I Don't Have a Money Tree

When you find yourself spending money on silly things or things you don't need, it's time to re-evaluate what your money is worth to you. Like our parents always said, "Money doesn't grow on trees."

   The next time you go to Target and inevitably browse the "Dollar Spot", ask yourself if you really need colored mini buckets to put trinkets in. And while you're at it, do you really need the trinkets that go in said bucket? I know I don't.

   I tried on a dress today that I didn't love. I started talking myself into getting it anyway. I could wear it to work. It is the right length and neckline. I could wear a blazer or cardigan with it. It does fit. But I don't love it. Why do we do this? Why would I waste my hard-earned money on something I had to talk myself INTO buying? Shouldn't I save my money for something I love so much I can't even talk myself OUT OF buying it? I didn't buy the dress.

   The moral of today's story: If you don't need it or love it, don't buy it. Put it down. If you're still thinking about it in a week and you can afford it, go back and get it.

Tough Decisions About Vacation

   Who doesn't want a summer vacation? But right now, it's just not in our budget. We had the opportunity to join our friends, Piper and Tyler, in the Keys this July while they celebrate their first wedding anniversary. Because they are staying in Piper's mom's house down there, we wouldn't have to pay for lodging - which would be great. However, the gas to get there and back (an 8 hour drive), food and drink while we're there would be a significant expense. We had to make the tough decision to pass on the chance for a week in the Keys. Bummer.

   But don't be blue! There are ways to get the vacation feel without a full week's expense at another destination. Use the internet to find "daycation" opportunities in your own neck of the woods. For my Ocala friends, check out the historic towns of Dunnellon, Micanopy or McIntosh. Each one under an hour drive and plenty to do there for a whole day. Check out Juniper Springs or Rainbow River, tube/canoe/kayak rentals are about $10. Or, my favorite inexpensive getaway.....camping! Although it's hot and you need to be careful of heat exhaustion, misquitos and other bugs that swarm in the summertime, it can be a fun adventure. For the cost of filling your cooler with a few days food and your campsite fee, you could have a great time with your family and get off the map for a while.

   If you have inexpensive summer vacation ideas, please share!

Slowly But Surely

   It appears we have lost a little steam on this savings train. Mostly because it is really hard! In the last few months, we have taken some financial blows. We attended Ian's sister's wedding in Savannah which included gas to and from Savannah, renting a condo, food and drink while we were there, wedding gift, etc. The following week, we had family in town for 8 days = $300 grocery bill. Plus, going out of town and having people in town means taking days off work, which for Ian means less sales, less commission, smaller paycheck. Our car ($710) and boat ($280) insurance came due. Ouch.
   We have had minimal to no opportunity to save money over the last few months. BUT, keeping up with simple savings habits has helped a little. I am proud to say I have brought my lunch to work every day this month. Turning down lunch invites on numerous occasions was difficult but had to be done. We celebrated Mother's Day and Father's Day with delicious homecooked meals and homemade cards instead of gifts that neither parent really needed anyway. Instead of going out on the weekends, we have invited friends over for dinner and played games in the backyard like cornhole and used the pool table quite a bit.
   Unfortunately, we were not able to put much in savings recently, but we haven't had to take any out to pay bills either so I still consider it a win. Keep on truckin'.

Unnecessary Services

   With the advancing technology in cell phones, we can get internet and phone service almost anywhere. In addition to our iPhones, Ian and I both have access to the internet all day long at work. And now, I have a Motorola tablet for work that has 4G on it. I can check my email, download movies and music, check my bank account, Facebook, and even write Word documents. So what do we need a home computer with internet for? We don't.

   Beginning today, for the first time since living on my own at 18, I do not have home internet service. We also came to the decision back in February, that we don't need our home phone line. I understand the "importance" of a land line if you ever need to call 911 from your home....but I still think it's a silly, unnecessary cost. So with the combined cancellation of our phone and internet service - drum roll please - we are saving approximately $90 a month! This is over $1,000 a year. 

   However, since there are only 8 months left in our calendar year savings plan, we will save $720 towards our goal of $10K. From now on, each month when the Dish Network bill comes due, I will pay it and then take the $90 that used to pay the internet/phone portion of the bill and put it right into savings. Good-bye Century Link!

   How much money are you wasting on unnecessary services? Don't forget about cell phone minutes!! A lot of wireless service companies offer unlimited mobile to mobile minutes. If you're still paying for a package with more minutes than you need, you're wasting that money! If you text more than you talk, switch to a plan with unlimited text and fewer minutes to save on your bill. Ask about family plans that offer a second line for only $10. You could combine your family's phone lines into one account and save money that way too.

Homemade Cleaners Series: Laundry Detergent

   Commercial cleaners can take a chunk out of your grocery bill. No need though. Many cleaners can be made at home with a combination of a few ingredients you probably already have at your house, or can purchase in bulk for just a few dollars. My cousin, Mike Fisher, shared with me that he makes his own laundry and dishwasher detergent from recipes he found online. He was kind enough to share them with me, and I will share them with you. This series will highlight a few household cleaners that are simple enough to make at home and will save you a lot in the long run.

   This weekend I started my homemade cleaner adventure with laundry detergent. There were several recipes to choose from that range from diluted (use more per load) to concentrated formulas (use less per load). I picked one in the middle.

• One Bar of Soap - Light or Fragrance Free
• 2 cups Muleteam Borax
• 2 cups Arm & Hammer Cleaning Soda 
• 1 quart water

   Directions: Shave bar soap (I used a cheese grater). Boil quart of water and add soap shavings. Stir until melted. Fill a 5 gallon bucket half full with hot water. Add melted soap mixure. Add the Borax and cleaning soda. Mix until disolved and top off bucket with more hot water. Stir again. The solution may form into a gel, it may not. It need not be a gel to be effective. Use 1/2 cup detergent per load for this recipe. Find other laundry detergent recipes here http://tipnut.com/10-homemade-laundry-soap-detergent-recipes/

   My tips: If you choose a frangrance free bar soap, you can add a few drops of essential oils in a scent you prefer - lavender, orange, etc. If you choose a soap with a light, fresh scent, don't add scented oil as the combination may not work well. We built our homemade laundry detergent container out of a 5 gallon bucket with a lid and put a spigot at the bottom. (See photo) So we have a storage container that works as a dispenser as well.

   Share with friends: Try a big batch yourself. If you like it, send a gallon home with a friend and share the recipe.

   Cost difference: Leading commercial brands such as Tide or Gain average $15-$17 for the largest container, 1.17 gallons. The ingredients for one recipe of this homemade detergent cost be $3.75, which I get 5 gallons out of. $3.75/5 = $.75 per gallon. As you can see, it's an incredible cost difference.
  **Stay tuned for more household cleaner recipes in this series!

Credit Card Rewards

   When I was in college, I signed up for an American Express credit card. By putting all purchases on this card and not using my debit card at all, I have maximized the return for myself. I have received an average of $500 a year in cash back rewards. I usually put it towards paying the next credit card bill. A credit card that earns you points or cash back is a big way to save. If you earn travel points, that's less dollars out of your pocket when it comes time to book plane tickets and hotels. There are tons of credit cards out there with consumer benefits that will suit your needs. Just do the research!

  Although the Amex card earns us a lot of points which equals cash back, there are many businesses that don't take Amex. For this reason, we decided to get a second credit card that was a Visa. I did the research and found a Marriott Rewards Visa that would give us 2 free nights stay and 30,000 points just for signing up and keeping the card active for 6 months. Now that we have it, we only use it at places that don't take Amex, because it doesn't earn as high of a percentage on return - we earn 5% on almost all purchases with Amex and only 1-2% with the Marriott card.

   This weekend, we are cashing in our 2 free nights at the Fairfield Marriott near Universal to celebrate our 2 year anniversary. It's a small, conservative anniversary vacation, but it will have to do for now since we're in savings mode. When we reach our $10K goal, we'll see about a cruise to the Virgin Islands :o)
   If we had to pay for the 2 nights out of pocket, we would spend $220 plus tax just on the hotel. Not to mention the park tickets at $85 a pop. But since we are utilizing our credit card benefits, we are saving that $220.
   The key to putting all your purchases on a credit card to maximize your return is to pay off the credit card bill at the end of every month. Don't go into debt just to earn points on your card! The interest alone could set you back quite a bit. Spend responsibly!

Coin Jar

   As simple as it sounds, you may be overlooking one of the easiest ways to save money. An at home piggy bank. A mason jar, 5 gallon water drum, a bucket, a wine jug, an actual ceramic pig, whatever you prefer. Toss your spare change in the container and forget about it. When I was growing up, my dad kept a 5 gallon drum - his coin jar - in the corner of his closet. Whenever it got full, he would let me roll the coins in little paper cylinders to take to the bank. He always gave me a percentage for helping him roll the money. And to teach me about savings. And here I am. Blogging about savings.

Rules:

   1. Keep your coin jar in a common place in the house where everyone can contribute.

   2. Determine how long you will save your coins. One year. 10 years. Until retirement. You choose. The key is to NOT TOUCH IT until then.
   3. Decide what you will use your coin savings for. A new car down payment, a home project, a new wardrobe, paying off your credit card. Ian and I cashed in our coin savings the year we got married and used it for spending money when we visited our friends in Alaska. It was only $200, but it sure helped! I heard about a guy who started his coin savings when his son was born. By the time the boy was 18, the father had saved enough to pay for the son's college tuition! That really puts things in perspective - especially for those of you with young kids.
   This project is not a catch all bowl on your coffee table that you give and take from regularly. It is a savings project. Empty the coins in your pocket/change purse on a daily or weekly basis with the purpose of saving it. If you're tempted to take quarters from it to pay parking and tolls, then make the opening only big enough for coins to go in and not out. Pick a container you can break open when you reach your goal in time. This will help keep you accountable.