Thoughts On Finance » cutting back

Marriage…When Your Spending Plans Don’t Agree

admin — Fri, 22 May 2009 13:47:57 +0000

The expression is opposites attract, and this is very much the case when it comes to spending plans in a marriage. If you are a careful spender than being married to someone who is a spender can be trying and challenging especially in difficult economic times. Whether your spouse is a person who spends to get a good feeling from it, or they overspend due to carelessness, the results are still the same, leaving you with too much debt and little savings to pay it down with.

If you attempt to solve this problem using the lecture method, then you may just drive your spouse to spend more, thus resulting in more problems.

A more effective strategy to combat this problem is to keep track of household expenses. Accountability for household expenses may be just enough to show your spouse the areas that need work, without really saying anything.

If this doesn’t work? Then the time has come to get separate bank accounts. And if your spouse’s spending is causing extreme stress on your household finances, then you may have to consider stronger measures.

Finally, you might consider lightening up a little. Marriage is one of life’s great blessings. If you think the occasional iToy is expensive, wait until you see how much a divorce costs.

When A Deal Real Isn’t A Deal

admin — Tue, 12 May 2009 16:48:56 +0000

In a struggling economy, more and more people are looking for ways to save money. Many stores, however, are taking advantage of this market and are trying to convince you that they are running sales and specials, that are really no bargain at all. The only way to really spot this out is to know your prices. If a price is genuinely lower and bumped up for the sole purpose of discounting it and still making close to the same profit, then really it is just a scam to get you to spend your money. That is why it is very important to be a wise shopper.

TIPS TO SHOPPING WISELY:

Shop with a list. This will keep you from being drawn to items that you don’t need just because they are “on sale”.
Be sure to use flyers from stores as well as the internet to shop around. Many times when a certain store in your area has a product on sale, you will find that other stores in your area will reduce the price on that item even more.
Know the prices of the items that you regularly buy. This can help you spot what is truly a good deal.
Consider buying items that you use a lot in bulk. Some of these items can actually be purchased online and shipped to you for less.
Don’t impulse shop. If you have a specific need, then look around before making a purchase, don’t fall into the trap of I need it right now. This can allow you to fall victim to price gouging.
Don’t be afraid to wait. Many times we just buy what we need because it is there, but it is truly best to buy everything when it is at its lowest possible price.
Ask around. Many times when you are looking for a good deal on something, the people you know can be your biggest helpers. So don’t be afraid to ask, they may just know a friend of a friend or a bargain basement store where you can get a better deal.

It is important to use all the resources available to get the best prices these days. So don’t just buy the ads that the stores are running. Do the comparison yourself and you will find this method can help you really save big.

Frugal Is The Way To Be

admin — Wed, 24 Dec 2008 11:20:10 +0000

Everyone understands that finances are tight and therefore many people are cutting back. This does not necessarily mean to not buy presents for people but to be wise in what you buy. Don’t overspend and try to keep gift giving simple.

In the past, I have always overextended for Christmas, coming out of the day in a hole and then spending most of January trying to get out of it. I really thought that was normal, but this year, I stuck to a budget, and I can honestly say that I feel better going into Christmas than ever before. I know that I still have a dime left and that I will be in good financial shape in the New Year.

People tend to over spend at Christmas, so that they can give to others, however, I can honestly say that I would not want a gift from anyone who was putting themselves in a hole to come up with a present for me. I would much prefer a card or some cookies instead. That would make me happier, and I am sure that no one on your list wants you to go into hock, just to present a cool present to them at the holidays.

Do yourself a favor, limit the gift giving to simple things, and what you will find is that you will enjoy the holidays much more than you ever have before. I know I will.

A Season for Giving

admin — Wed, 10 Dec 2008 14:42:16 +0000

We all know that the financial status of the country and the world, is grim at best. In these trying economic times it is important to remember that there are people who are worse off than you are, and it is definitely a time for giving. Giving is not just something that you do for others, but also for yourself. With so many people falling on tough times, it is important that as we go through this holiday season we remember that things could be worse. If you are lucky enough to have friends and family to spend the holidays with and you have a few gifts under the tree, then be sure to give back. You never know when you will need help, so giving can be a very important thing. We all hope that if we are ever hit hard enough that there will be someone willing to lend a hand. Just think about all the people who will be unemployed this holiday season, without work, struggling to pay their bills and completely unable to buy any sort of presents for their children. Think of all the soldiers and their families who will have to celebrate the season without their loved ones. Think about all those who have lost a loved one, in the war or otherwise who will never spend another holiday with that special someone.

This year, buy a few less gifts for your loved ones, and instead donate to a charitable organization that will help out those who are in real need this holiday season. It is not too late. Give a little or give a lot, but definitely give. After all, giving is really what the true spirit behind Christmas really is, and although it may mean forgoing something you really want, your heart will be warmer on Christmas knowing that you made someone else’s day a little brighter.

Ho, Ho, Ho Or Bah Hum Bug

admin — Mon, 13 Oct 2008 16:03:04 +0000

I have always loved the holidays. Always a fun and exciting time of year filled with hustle and bustle. Some years, though, have been more difficult than others. Many years, we didn’t really have enough money for Christmas gifts, and it put a lot of added stress on us. The years had more and didn’t have to go into hock to make a Merry Christmas were also a lot nicer. I didn’t have to worry about what I would get everyone, I could relax and shop early and get whatever I idea came into my head for that special person. On years when I didn’t have enough money I would stress and by the time Christmas day would roll around, I would be completely broke and miserable knowing that I spent money that I didn’t have to get through it. This year, I think that with the economy where it is, we all need to take a few steps back and really look at how much money we are spending on Christmas. There is nothing fun about buying gifts and then stressing about how to pay for them. I know I wouldn’t want to think that anyone was getting stressed about a present that they bought me and really couldn’t afford, the gifts are not that important but the people are. It is a great time of year to acknowledge people, but you have to make practical choices and shop for the deals. There are a lot of good bargains out there and a lot of really creative ways to give exciting gifts without spending too much money. This year, let’s all be smart and limit our spending of dollars and just spend time with the ones we love instead. It is more important than ever to realize that the material stuff is just stuff. Let’s not buy into the madness that the local businesses perpetuate, let’s take a step back and just enjoy the holidays and not go broke in the process, after all you don’t want to end up in the same financial state as our government do you?

Why Is The Green Paper So Important To Us?

admin — Sun, 05 Oct 2008 13:12:03 +0000

Finances are on everyone’s mind these days, from the rich to the poor, we are all concerned about the financial standing of our country and of our families, but when did this green paper become so important.

With financial times being difficult more and more people will turn to crime, drugs, alcohol. More and more people will go to counseling and get divorced and my question is still why? Have we become a society so driven by the dollar that without it we will just crumble? The answer to that is very simply yes.

While some of us are just worrying about how we are going to make ends meet and pay for the essentials to sustain our families, some of us are actually in a worse financial situation. The rich will feel this financial crunch too, because unlike the poor in this country, who realize that we will just have to generate more income to survive, the rich, who have based their existences primarily on the stock market, the real estate market, and credit cards and loans, will probably be hit even harder than the poor. The lifestyle changes that they will need to undergo to survive this rocky road, will be a much bigger adjustment for them. They will have to give up living on credit and will have to find ways of generating an income through the necessity avenues in this country. They will have to find ways to invest money now in businesses that will be able to survive the financial rough patch, and that could be difficult for many wealthy people.

If you are worried about the financial future of your family, then take action now to sustain your family, we can live without a lot of what we have, we just need to begin to realize the difference between true necessity items and luxury items.

Some People Really Don’t Understand What Cutting Back Means

admin — Thu, 18 Sep 2008 12:52:03 +0000

I guess, with all the talk about money and finances in the forefront of everyone’s minds, you would think that more people would be taking action and cutting back and saving money now for the future. This is really not the case because some people really don’t understand shopping wisely and saving money and all that stuff. It seems pretty simple to me, maybe because I learned from my grandparents, who came from the Great Depression times and didn’t have much money even after they started a family. Growing up I would hear my grandmother tell stories about wanting to buy a Christmas present for my aunt when she was a little girl and about how they could only afford a doll, but they couldn’t afford the clothes, so she made an outfit for the doll which was my aunt’s only Christmas gift. I heard stories about adding water to stretch things and making lots of Koolaid to quench the thirst of friends who would come for a visit. My grandparents now have money, but still do not spend. My grandmother still recycles her tin foil and uses it again. She shops a bargain whenever possible and will reuse items past the point of exhaustion. Since they never really had money, when they did get it, they still continue to act as if they don’t. This is how they were raised. Many times when speaking to my grandmother and grandfather about my struggles with raising a family and about having no money, they share stories about wondering how they would pay for heating fuel and about the tough times. I look at them now and hope that my future holds for me money in it, as they are a true testament to the power of pushing forward and going from have nots to haves. A rags to riches story that even now, makes you think about how you are spending your money and what you are spending it on. I am gradually learning how to cultivate my money and keep it going far past where it should. I am cutting coupons and shopping sales, I am going to yard sales, I am cutting back. My kids feel it and are hating it, but I can’t just blow money on their every desire, I keep trying to explain to them the difficult financial times that we are in, but I really don’t think they get it. The time to cut back is now, so start making gifts for Christmas and thinking of ways to reduce costs where ever you can. This is a time of “Economic Slowdown” so be ready because when things start to slow down, they eventually come to a stop.