5 Tips to keep your spending under control all year long

How are your New Years Resolutions going? I wrote this article for an online website, I thought I'd share it again as we wrap up the first month of 2013.

"5 Tips to keep your spending under control all year long"

Financial management is a New Year's Resolution for many people.  Goals need to be specific in order to be obtainable and simply "spending less this upcoming year" is too broad of a goal. In order to be in control of our finances, we must first have a change of attitude.  I've created a list of 5 small changes that can help you have a change of attitude about your finances.

1. Make a list of priorities in your life and post it where you can see it daily.  Before making any purchases ask yourself "How does this purchase fit into my priority list?"  If it doesn't, then it's not worth spending money on.
2. Before purchasing small things, think about how the money you spend now could  be used on something more important to you.  That daily Diet Coke or coffee adds up over time.
3. Break purchases into per use cost.  This will give you a long term perspective on what it costs to own this item.
4. Purchase only what you need.  Just because you find an amazing deal on something, doesn't mean you have to clear the shelf of that item.
5. Simplify your life. Declutter and clean your space.  You might find things you previously bought that you forgot you had.  This will save you time and money because you won't be buying duplicates.

Managing your money is a lifestyle change, not just a quick fix.  Take a step back and look at the big picture of your life before you make any purchases.  Ask yourself if this purchase fits into your priority list.  We all want to live our best life and what better way to do that then to focus on the things that are most important to us?  In the end, it's not the things that matter.

Smart Women Smart Money Conference notes

I was able to attend the Smart Women Smart Money conference a few years ago. I was going through my blog looking for finance resources (and inspiration) and came across these notes. I found them interesting, so I thought I'd re post for you all. :)

 For those of you interested in my notes from the Smart Women Smart Money Conference, here they are.  It was interesting and very motivating to listen to this "Dave Ramsey" breakout session:

• 70 % of people live paycheck to paycheck.  55% of those people say they "Always" or "Sometimes" worry about money.
• Women invest less, earn less, save less.....and live longer them men. ~They used this quote to show the importance of Women taking control of their finances and learning to manage them better.
• Emotional spending is BAD spending.  It's not targeted and therefore leads to excessive spending. ~The example used was buying a shirt or new pants so I don't feel fat, or "treating" yourself to something as a reward too often.

Self.worth, value and confidence should be who you ARE.  Not what you SHOULD BE or what you have

"Where do you find your value?"  now take away all your "stuff"....where does your value lie?

"Is APPEARING more important then BEING?" ~Debt is dangerous because it's personal.  No one knows that you have no money, they just see that you drive a nice car, wear nice clothes and APPEAR to have "it all".
Before you buy anything ask yourself "What is my motivation in this purchase?"

We have to separate Happiness and Stuff.

What do you value most in your life?  Write it down as a daily reminder.

Finances

Lately I have been really interested in finances. I know it sounds boring, but more specifically, I want to know what things I can do now to ensure I have money down the road. I'm taking an online Personal Finance class, two weeks ago I attended the "Smart Women Smart Money" all day conference in SLC, and my husband and I just refinanced our home. I thought I would share a few of my findings through this process:

IRA's.
The government gives you a tax break if you contribute to a Traditional IRA. You can claim deposits up to $5,000 if you are married filing jointly. This money is there for you later, and saves you money on taxes now. It's a win win....if you can afford to store it now. The #1 thing I have learned through my studies is you DO NOT invest money that you need. The experts say money that you need in the next 5 years you should not touch.

Refinancing
Interest rates on loans right now are EXTREMELY low. It's definitely worth your time to do a quick Google search for "current interest rates" and see what's out there. There is a chart on Bankrate.com that shows the rates over the past 4 months.

UESP
The Utah Educational Savings Plan (UESP) 595 college savings plan is one of the best in the nation. I use this program and I see it listed on CNN and Money Magazine all the time as a great 529 college savings plan. While I was at the Smart Women Smart Money conference, the Key Note speaker Allan S. Roth (author of How a Second Grader Beats Wall Street, and Colorado resident) went on and on about the UESP and how great it was and that his children all have accounts through it. And if you are a UT resident, you get a state tax deduction for contributing to the account. It's worth requesting info and looking into it. (There is a small maintenance fee for those of you out of state, in state residents do not get charged a fee, plus you get the tax credit)

Insurance
Give your insurance provider a call and see if there is anything you can adjust to lower your payments. (note that this usually means raising your deductible) If it has been a while since you have looked into your insurance coverage now is the time to give them a call and make sure you are where you should be. I called my insurance company today and I was told "It's been a while since you have changed anything, let me take a look at your accounts. Things are not as expensive as they were a few years ago..." She got back with me and Allstate has a new program where I don't lose any coverage, but I get a "safe driver" deductible credit for every year we don't have an accident. So I'm now saving over $100 every six months, have better coverage, accident forgiveness and a deductible credit.

Talk to friends, family and coworkers and see how they are saving money. It's at least worth looking into.

31 steps to a financial tuneup

With all of us striving to be better in 2013, I thought I'd offer this 31 step check list I found on the NY Times so you can see how you are doing financially.

I love to watch shows, listen to talks, attend classes and read books about how to save money and get your finances in order. To me it's like putting a puzzle together, or like playing the game of LIFE.

Here is 31 step check list that you should look over to fine tune your finances. It was posted on the New York Times website. I think it's a really nice reminder for everyone. It doesn't take long to look over either.

I always feel when it comes to finances, unless you meet with a personal finance counselor, any advice you get will be generalized. So take a look at this list, pick and choose what will work for your situation, and try to pick a few that seem like a challenge.

One challenge we do every year is we choose one month, usually January, and we do not eat out at all that month. This makes us use our food storage and saves us money.

FREE Parents Guide to teaching kids about money

Photo from Zionsbank.com

Zions Bank has a Financialzie by 18 program to help parents educate their children about finances.

They have age appropriate lessons that every parent should be enforcing with their children.

All resources are FREE and can be found HERE.

FREE Planner Downloads from Simple Organized Living

Simple Organized Living if offering a bunch of FREE planners:

 FREE 2012 financial planning workbook download! "This is a 2012 Planner" you say.....yes it is. BUT once you download it, you can change the year and the workbook will work the same. ☺

FREE Meal Planners

Free Daily Planners

FREE Misc Planners


Download it and keep up on those Resolutions! :)

Utah Readers: Frugality Boot Camp Discount Registration! "Start your New Year off Right"

I just found out about a Frugality Boot Camp "Start your New Year off Right!" happening January 19th in SLC!! And even better, they are offering a discount to Thrifty 101 readers!

Last years registration was $225. 

For Thrifty 101 readers it's only $45 before Jan 1!
Use Promo Code: LIVINGTHRIFTY at checkout

Here's what's included in your Boot Camp:

Interactive discussions, lectures, and classes

Good food (lunch provided)

A day of education and fun

Giveaways and take-home gifts

Mingling with other like-minded people, and forming new friendships

One-on-one coaching and Q&A from Jordan Page and other frugality and finance experts throughout Utah.

The info and skills to save your family thousands of dollars for years to come!

New this year: Hands-on workshops where you will physically make and take home budgets for your family, binders, helpful tracking tools, and more!

Come learn:

Step-by-step "how-to" on setting and maintaining a budget

"How much should I spend on...?"

The simple way to grocery shop and meal-plan, saving you thousands...no coupon clipping needed.

Fun, cheap, or free family activity ideas

Health, beauty, and fashion on a budget

How to fit home decor, shopping, DIY, and hobbies into your budget

How to gain and maintain an overall balanced frugal lifestyle

Involving the family in frugality, easy allowance system, etc.

How to be able to BUY what you want, DO what you want, and LIVE how you want, without breaking the bank.

And more!

 Click HERE for lots of information, photos of last year's event, and details.

Seating is limited. Last year it sold out so register quickly!

Ready to get your finances in order and Start your New Year off right?? 

Register below and be sure to use promo code LIVINGTHRIFTY to get the Thrifty 101 discount! Spouse tickets are 1/2 price!

Disaster Ready Info

Money Magazine created a list of finance documents you should have in your disaster plan. Some of these you might need access to so storing them in a safe at your house, or a safety deposit box is the best place. Having copies of everything in another location is also a good idea.

• Driver's license and/or passport
  
• Social Security Card
• Health insurance card
• Insurance policies
  
• Mortgage and other loan papers
• Property deeds
• Car Title and Registration
• Marriage License
• Birth Certificates
  
• Your will
• Last years tax return
• Bank and Brokerage account numbers

"The majority of Americans haven't included financial documents in the disaster plan." -Jim Judge of the American Red Cross

Money Saving Website

I just found BillShrink.com. It's a really neat website where you enter info on your current

• Cable bill
• Cell phone plan
• Credit card
• Savings and CD info
• or Gas station info (to find the cheapest gas)
  

After you enter your info it calculates based on what you input and tells you if your current plan is the cheapest or if there are other plans that would save you money.
I entered my cell phone info and it said:

Way to go!
Based on what you've told us about your cellphone usage, it appears that you are already on the best plan! The market changes quickly so we'll let you know if money-saving opportunities become available...

(I have a Virgin Mobile phone; if you are wondering.)

If you have a bundle package it might be helpful to have the bill in hand when you enter the info so you can enter just the cable info. It does not take into account that you are also getting phone and internet with a bundle deal.

It only takes a few minutes and if anything it's educational. ;)

FREE Dave Ramsey Download! (repost)

Click HERE to download your FREE MP3 copy of Dave Ramsey's "Dumping Debt"

I downloaded this in Sept and already listened to it once. Yesterday I listened to it again on my ipod while I was at the gym. I really enjoyed it! It's a wonderful audio, very motivational.

This was a great audio lecture I recommend it to anyone. Especially this time of year when spending gets out of control!

Dave Ramsey Giveaway

Everyone likes FREE things right? lol, that's what I thought. :)

I'm offering my Dave Ramsey Monthly Cash Flow Budget form to Thrifty 101 followers......for FREE!

The only thing I ask is that you click the little button in the left margin that says "Join This Site". I'm striving for 1,000 followers by the end of the year and I thank you in advance for your support.

To get the budget spreadsheet; email me at livingthrifty101@gmail.com or leave your email in the comments below and I'll forward it to you.

*Remember to help me meet my 1000 followers goal by December 31, by clicking "Follow" on the left margin!!* ☺ Thanks!

FREE Women's Finance Conference in SLC, UT

Zions Bank is sponsoring the 2nd Smart Women Smart Money Finance Conference! TODAY

Keynote speaker this year is Geena Davis.

They cover topics like spending, saving, investing, retirement, building your own business and this year's keynote speaker is Geena Davis. There is a TON of information available, vendors to talk to (and of course get your SWAG), network opportunities and valuable everyday finance information.

There are two "break out" sessions where you get to choose your class topic and go to the subjects that most interest you. The whole conference is designed to be relaxing, informative, all encompassing and valuable to people of all incomes and levels of expertise. I took a lot away from my experience last year and have been hoping they would do it again this year. I'm already registered for this years conference.

When: Wednesday, Sept 28
Where: Salt Palace, SLC, UT
Time: 8:30 am till 3:00

Click HERE to see the day's Agenda

and click HERE to register.

Unexpected Dental work....now what?

My sister found out today that she needs quite a bit of dental work done. Almost $4,000 worth of dental work done. She instantly started panicking about how they were going to be able to afford it. Here are some things I suggested to her.

1. Get a second opinion. The place she went offered a free exam, x-ray and cleaning to new patients. This place is known to be the "posh" of all dentist offices in the area. I told her to go to another dentist (or 2) and get a second opinion. Chances are the estimate will be lower and possibly some of the work might be considered "cosmetic" and not "necessary" at another place.
2. Check prices with other offices. They gave her a print out of what needs to be done and the cost of each item. I suggested she call her old dentist and ask for prices on each of the items listed. She could scan or fax them the estimate and see if they can do better. I'm sure they will want to see her for an office visit (no dentist would do work based on another dentist's exam) but at least she could get a ballpark quote from another dentist to put the "posh" dentist's quote in check.
   
3. Financing through the dental office, or even paying it off on your credit card are not the BEST options, but they are still options and should be considered.
4. Have a $1000 emergency fund set up. I know this is "too little to late" in this circumstance, but going forward follow the advice of several financial advisers and have AT LEAST $1,000 in savings.
5. And last but not least..........STOP DRINKING SO MUCH SODA!!! hee hee
   

It's amazing how things hit you like this when your life (and finances) are going so well. This is where the $1,000 emergency fund comes in. No, it' won't cover all her dental expenses, but I'm sure it would put her mind at ease that a big chuck of it was able to be paid off quickly. The emergency fun will also lower any payments she would have to make on the work.

Do you have any tips on dealing with payments for Dental Work?

"It may seem like a mountain right now,
but when you look back on your life,
it will be a bump in the road."
~Michelle :)

Shopping Clearance Items

I just got back from Smith's and thought I'd share a few good clearance deals I got.

First I picked up this package of Capri Sun for .99 because one of the corners was damaged was $1.99.  All juice pouches were accounted for and not damaged.

 2. I bought this huge container of Clorox wipes for $2.49 was $4.99.  I don't use these and I'm not even sure this is a GREAT deal.  I know it's a GOOD deal, but I figured it was worth $2.50 to donate to my sons classroom.

 On clearance because the package was ripped.

 3. Purina Cat food with ripped bag.  Was $13.79 now to $5.99.....but wait....there's more......

 BOOYAH!!! -$2 coupon = $3.99 for a package of cat food normally $13.79

 On a side note I bought this cute little "Puppy Playdoh" set yesterday at Walmart for my "gift stash" for $9 was $14.97.  They have a lot of toys on clearance as well as summer toys and baseball equipment.

A few "Clearance sale" tips:

1. Know what the sale price is normally for the item.  I disregarded this tip today when I purchased the Clorox wipes, but like I said...I am okay with a $2.50 donation to my child's class.
2. "Clearance" does NOT mean "GREAT DEAL" (refer to #1)
3. You CAN use coupons on clearance items (sale items too FYI)
4. Check for packages that are TOO damaged before you purchase them.  Be sure it is something still usable and worth the amount left. Like the cat food I bought.  The bag was ripped and taped back together.  I'm sure there was some missing (the bag did rip at some point in time) but the amount missing was so little that I was okay buying the item damaged.

What is the biggest waste of money that every family can avoid?

What is the biggest waste of money that every family can avoid?

That is the question that Circle of Mom's website asked me to answer.  They are asking money saving blogs this question and their readers get to vote on the best answer.

Click HERE to see my answer and vote for me if you have a second.

How would you answer that question?  I'd love to hear your thoughts in the comments below.

Cost Cutting Ideas

I use Quicken software for my family book keeping.  I created a few reports today that my husband and I looked at in detail for things we could cut from our spending.   Here are a some areas we found that we can cut back. Think of your own situation and see if any of these ideas could help save you money:

• School Lunch. I was SHOCKED at how much lunch money costs for my 2 boys!  I only pay $1.50 per child per day, which doesn't seem like a lot but the amount I've paid this year to date (YTD) is $198.00.  That's $25 per child per month. Capri Suns are about .15 each, plus a sandwich,a baggie of chips and a cookie would cost you about .50.  That's a dollar a day that stays in your pocket, per child!
• Eating out.  Our YTD is $371.14.  This number does include our week long Spring Break vacation so it is a little inflated.  That's almost $100 a month that we could save by taking the time to make food at home.  Ordering pizza less would also cut this cost. (curse you Domino's!)
• Groceries.  As you know, I use coupons when I shop.  But there is always room to use  coupons more efficiently and save more money. :)
• Preschool.  May marks the end of us paying $85 a month for preschool. (YAY!!)  YTD for Preschool plus admission fees for field trips was $434.25.  yikes!  To save money on preschool tuition see if you can volunteer or team teach at the school.  Maybe you have a skill or trade that you could swap for a month's tuition.
• Cable. Do you really need all those channels?
• Extras. As you all know, I post internet deals on Thrifty 101.  I am very picky about what I post on Thrifty 101. I only post the best deals I find that I think my readers might benefit from.  If you have been looking for the item I've posted a deal on, that's great!  Please don't fall into the trap of "It's a good deal, I don't really need it but I can't pass it up!" That defeats the whole purpose of living a Thrifty life.  Just because it's on sale or a good deal does not mean you need to purchase it.  

You can't save money by buying things you wouldn't usually purchase.

10 tips for a better Garage Sale

It's Garage Sale Season!
Garage sales are a great way to make some extra income and also a great way to score some great finds.  Kids items are great things to pick up at garage sales.  Be sure to look closely at toys and clothes.  Some times you can find clothes with tags still on them!

Another great find is furniture, especially if you are into re finishing furniture.  Storage items (tupperware containers, book shelves, storage shelves are usually easy finds.

If you are planning on having a Garage sale, here are a few tips to having a great garage sale turn out.

1. Start gathering items that are worth selling.  This is a great way to de clutter and Spring clean. 
2. Get together with other families. "Multi-family" or "Neighborhood" garage sales draw more people then single sales do.
3. Make simple, clean, easy to read at-a-glance signs.  Bright colors (all the same color) or balloons are good ideas. Small writing when you are driving by in a car is too hard to read.  Post the address and an arrow.  You can highlight a few of the best items if you want, but keep it simple.
4. List your garage sale on free local sites, or craigs list
5. Also, you might want to check and see how much you could get for your large items on Craig's list or local classifieds. (ksl in UT)  The basic rule is you can get more for your item that way (or ebay for smaller items or collectibles) then via a garage sale.
6. Make sure your items are clean and in good working order.
7. Display items on tables, fold clothing and arrange in order of size.
8. Price all your items, and price them to sell.  Ask yourself what you would pay for that item and use that price.  Realize people might haggle you on the price, or try to "bundle" items.  Your goal is to de-clutter your home and make a little money.....keep your perspective.
9. Clearly mark your large items with a paper sign with the price written with a marker
10. Consider lowering your prices if things are not selling or you are getting near the end of your sale.

These tips are based on my experience selling and buying things at garage sales.  Have fun, and happy hunting!

FREE Finance Classes in UT starting in May

I blogged about this class when I attended it a few months ago.  Well, it was such a success that they have decided to do another round of classes!

You can click HERE to find a location near you.

Classes start as early as May 11 and as late as 5/19.  Classes will run for 4 weeks.  My class went for an hour with 30 minutes at the end for questions and one on one discussions.  This was a wonderful opportunity for me to talk to someone about where I was going with my finances and get some feedback.

Locations include: American Fork, Murray, Provo, SLC, Riverton, South SLC, Ogden, Layton, West Valley and Draper.

This is a completely FREE class provided by the Utah Association of Certified Public Accountants, Deseret Media, and imagineahappieryou.com

Once classes have reached capacity, they will no longer be available for open registration.  So book your spot early, the Sandy class is already booked.

Ebay fee changes April 19, 2011

Just a heads up for those of you that use Ebay or are thinking about using Ebay....

Ebay has a new fee policy starting April 19th.

Starting April 19th Ebay will not be charging any insertion fees.  If you list an item whether it sells or not you will not have to pay to list the item. (Currently they charge you based on your starting price....which is why so many people start at .99, there is no fee if your item starts at .99 or under.)

Ebay currently charges 9% of the final value fee.  They are keeping the 9%, but it looks like the 9% will be across the board where as now it is based on which category you are selling it under. (electronics, books, household...etc.)

The big difference I can see is that the final value fee will now INCLUDE shipping.  People have been getting around paying a lot for the final value fee by selling the item for cheap and then tacking on crazy prices for shipping.  (Example is a Cricut machine for $50 and $75 for shipping) Ebay is putting an end to that April 19th when they start charging you the 9% including shipping.  As a buyer, that's not the best news.  That means sellers will probably be raising their starting prices and offering free shipping, or raising their shipping costs to get back the 9% they have to pay to Ebay.

I always advise my readers to do research and check Amazon.com with free prime shipping (or free 4 day shipping with purchases over $25) and compare that price (and the knowledge that it comes from a company and not a personal seller) against Ebay.  Also, free local classified listings might be better for both selling and buying items.

Utah Money Watchers Conference

I won tickets to and was able to attend the Utah Money Watchers Conference in downtown SLC on Saturday. I had so much fun!  My kids were in heaven when I unloaded all the SWAG I picked up for them. :)

I had an amazing lunch, learned some new things, and got some awesome websites to share with everyone.

• Believeinyourfuture.org - This is the "Google" of finance questions.  You can search for any topic related to money, savings, spending, retirement, budgets and even life stages.  This is a Utah based website, but finance info is the same in any state, unless you search a question specific to living in Utah the info should be all encompassing.
• Financeintheclassroom.org - Is a WONDERFUL resource to help your kids learn about finances and how to save and spend money.  They have age appropriate lessons and activities for K-12.
• Annualcreditreport.com - This is the place to get your FREE annual credit reports.  Other sites that claim to be "free" are NOT free at all.  (i.e. "freecreditreport.com" is not "free")
• MyFICO.com - Has a credit dispute letter format if you find anything wrong with your report.
• AARP.com - This site has calculators you can use to determine the amount of money you will need for future purchases or retirement.
• FTC.gov - Has a list of ways to improve your credit score
• securities.utah.gov - You can check this site to make sure that people you want to invest money with are registered with the state of Utah. (search your state and securities if you are outside of UT)
• imagineahappieryou.com - This is a great site for all around financial information and tips. 

Many people have told me their idea of fun on a Saturday morning is NOT to go to a finance seminar.  I enjoy learning about money, what to do with it, how to save it, how to invest it and I love being able to share my finding with others.

I hope you find these sites useful.  If you are overwhelmed by finances in general, start with the Financeintheclassroom.org site.  It really motivated me to incorporate ways to teach my kids about money.