A custom debt-reduction budget that fits your own family’s size, needs, etc., is crucial to debt reduction success.
Almost a full year ago, we committed our family to a “Back to Basics” kind of a lifestyle. In an effort to reduce our ridiculously high debt-to-income ratio, we committed to some Depression-era type living so that we could cut our expenses and work toward paying off our debt. As we near the end of year one of our simple living experiment, we’re even more encouraged to stick with it for 2014. What will our 2014 look like as far as simple living is concerned? Read more
Christmas is fun as you get to meet with all of your family members, friends and other loved ones. You get to party and enjoy your time as you’d like. However, the downside of Christmas is that you may end up in debt. Planning your Christmas is important as it can save you from the Christmas money hangover. Going frugal is the trick, but you need to do that subtly enough so that you do not miss the fun. It wouldn’t be any fun at all to follow up Christmas celebrations by getting collection calls a few weeks into the New Year? And opening that January credit card bill is no fun for most. Although, the answer to this would depend on the person you are and on your perspective, it cannot be denied that nobody likes being in debt.
Planning your frugal Christmas
It is high time that you plan as to how you are going to enjoy Christmas. This year, you need to plan a frugal Christmas so that you can avoid debt as much as possible. Some of the most important strategies you need to follow are: Read more
December is always a very reflective month for me: I look back on the year, what I did well, and what I could’ve done better on, financial and otherwise. Then I start that mental list of what things I want to change for the coming year.
As I’ve said before, I’m one of those people that has an insatiable need to know “why” about everything. This trait leads to a lot of self-analysis, and LOTS of learning from others. As we have worked over the last year to analyze how we got ourselves into such a huge financial mess, despite being “good” people and hard workers, I’ve learned a few things. One of the things that’s become very evident to me is that part of the reason we’ve gotten ourselves into such a financial mess is that we’ve followed some very evident family traits, and not the good ones, either. Read more
It’s that time of year again. Christmas is fast approaching and I’m once again thinking about what gifts I’m going to give my friends and family this year. Every year I try to make something for everyone. It may be a Christmas ornament, something baked or something canned from my garden, but whatever it is, it’s handmade. For me handmade items not only add a personal touch to Christmas but they also can be thrifty. Read more
Hey, friends! Today we welcome back Kyle, our semi-monthly contributor from Rather Be Shopping, who has for us today a valuable post on Black Friday shopping. Thanks, Kyle!
I have to admit that I use to shop on Black Friday regularly. Inevitably, I would wake up at 5 a.m. and head for the mall with a few items on my “want” list. Sometimes I was successful, but more than not, I came home empty-handed and really saddened by humanity. But I did learn a few things. In particular, I learned that some items are terrible buys on Black Friday. Here are five of the worst. Read more
Welcome back Fehmeen today, our occasional guest posting friend who mixes money-saving with humor over at her blog, Loans and Lifestyle. Thanks, Fehmeen!
Vacations are exciting for the heart but depressing for the wallet. The truth is, there are hundreds of ways to splurge when on holiday, especially when visiting another country with a more valuable currency. Luckily, there are also lots of ways to keep your spending in control, and here are a few promising tips that you can follow once you’ve reached your dream destination.
1. When Shopping Till You Drop
While carrying a credit card on vacation makes good sense (to meet unexpected money requirements) it’s better to cover as many transactions as possible with cash. Since impulse buying is pretty common during this time, your expenses can quickly add up, and even though it’s easier to swipe the card, you often end up spending more than you would if you paid directly out of your wallet.
The same problem arises when your host country’s currency is more valuable than your home currency. Unless you convert prices to your local currency, you are likely to think everything is less expensive even if the reality is opposite. Another problem related to exchange rates is getting the best possible rate. Tourists end up losing a lot of money during the conversion process if they don’t hunt for the best deals at ATMs, exchange houses or banks.
2. When Talk-Talk-Talking Away
Cellphone companies are happiest when you carry their SIMs (mobile phone connections) to other countries because they get to charge the smithereens out of you. It’s usually best to buy a new connection in your host country because call and data charges will be significantly lower than those on your old package. Make full use of free messaging and chatting applications on smartphones. They have the potential to save you big bucks.
3. When Getting Around
A friend of mine recently travelled to London and had an unpleasant afternoon trying to find his way to another friend’s house. He was using the underground tube – a very well-developed and very complex system that takes some time getting used to if you’re visiting from anther continent. Getting lost on public transport systems wastes time as well as lots of money in unnecessary tickets – let’s not forget the stress bonus. Before purchasing your tickets and boarding these trains, fully understand the route you’re taking, which connecting trains to take, which platforms to exit, and so on.
Unless, of course, you’re in the mood for exploring, then be my guest and enjoy getting lost. 🙂
4. Skip the Cab to Lower the Tab
If you’re in a country with a good railway infrastructure, using a taxi to get around should be your second choice. Taxis are always more expensive because they charge you for the convenience of taking your directly to your destination, as opposed to trains that make several stops along the way. Another friend of mine ended up paying $110 for a 45 minute taxi ride that would have cost no more than $10 had he taken the train – it was late at night and there were no alternatives, but it goes to show how important proper planning is when on holiday.
5. Regard the Travel Card
These smartcards are electronic tickets that let you travel on public transport systems for more than one journey so you can take advantage of bulk pricing discounts. These cards are more prominent in Europe, and features vary from country to country, but overall, travel cards are much cheaper compared to paying cash for individual tickets.
6. In the mood for food?
You may be surprised at how expensive it is to keep your stomach full when traveling. Visiting budget fast food corners at each meal time is unhealthy and taste-bud-unfriendly, but regularly going to restaurants can be very expensive. It’s best to cook your own food if you’re renting a holiday apartment. Purchase a few cans of processed food, some pita bread, rice, sausages, and basic spices, you’re good to go for a couple of meals.
If, however, you’re paying for a ‘Bed and Breakfast’, serve yourself a king’s morning meal and head out for the day. Many travel blogs say lunch menus are less expensive than dinner menus, so eat light at night. Or simply go out and enjoy some street food the country or city is famous for (with fingers crossed to prevent any dangerous bacteria from entering your stomach).
Lastly, if you’re staying at a hotel, avoid the minibar because they charge you double or triple the market price. On the other hand, nobody will kick you if sneak off to the market to purchase refill-items you already consumed from the minibar.
7. Show-off your student-status or credit card
Many tourist spots offer special discounts to students and senior citizens so be sure to carry the relevant identification when on vacation. Theme parks, national parks, museums, and galleries are just some of the places that skim a few dollars off the entry fee (if not waive the entire amount). Similarly, some credit card companies have discount arrangements with eateries, retailers, cinemas, and public parks, so go ahead and pay for the ticket with your card (but remember to repay the credit card bill before the month ends).
As mentioned earlier, these are frugal choices you can make after you reach your destination, but there are also lots of ways to save money before you begin travelling. If you still end up going over-budget, no need to fret. You did your best to curb wasteful spending and now deserve to relish the sweet memories of your vacation.
Fehmeen blogs at Loans and Lifestyle – a site with semi-amusing articles about moving away from debt and improving one’s lifestyle.
Hey friends! Welcome Kyle again from Rather-Be-Shopping with his bi-weekly guest post. Thanks, Kyle! Along with your mega-valuable tips, you always keep us laughing. 🙂
I grew up on a small farm and to this day I still miss the smell of sheep manure and bales of oat hay. Pretty weird, huh? I was also heavily involved in 4-H and took market lambs to three different county fairs in my area and used the money earned to fund my college education. As for 4-H, nothing pulls chicks like white jeans and a dress shirt along with a green tie and hat. But that is a story for another day. Today I wanted to talk about some of my favorite quotes I heard growing up from my Dad and Grandfather, who were both true farmers and very frugal men, and how they changed my life and can hopefully do the same for you. Read more
By far my most pressing and concerning questions from readers have to do with getting their grocery bill down. I’ve written on 7 Ways to Save Money on Groceries, and The Frugal Farmer’s Guide to Feeding Your Family for Less. Read more
So, we had family game night a few weeks back. My oldest daughter loves family game night with our extended family, because our sarcastic and silly comments throughout the night keep everyone in giggles, and we always have a boatload of awesome food. What more do you need for happiness, right? 🙂
However, at the last family game night, I got a good lesson in why we need to be skeptical of what we’re told, weighing comments carefully before submitting to their message. Read more
Thanksgiving is just around the corner, my friends; a mere 5 weeks or so away! You may or may not entertain on Thanksgiving, but if you don’t, you can just forward this post to whoever’s house you go to on turkey day. 🙂
We entertain every year on Thanksgiving. It runs on my father’s side that we love to feed people, and we love to eat. Add that to my love of cooking, and you’re set up for one pretty darn yummy Thanksgiving dinner, but one that can get out of hand real quickly, cost-wise.
Here’s a sample menu from The Frugal Farmer on Thanksgiving Day and what we’d pay out of pocket full price: Read more
