Archive for the ‘Spending’ Category

Aug 19

What do You spend your Money on?

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Real estateHave you ever thought about where your money goes?  I am sure you have some kind of idea when it comes to what bills are due at what time, etc.  However, I am talking on a deeper level. It is pretty easy to split your spending into two categories:  Money that is spent on assets (things that increase in value) and money that is spent on expenses (things that will decrease in value).  Do you ever wonder how the rich get rich?  They spend more of their money on assets than they do on expenses. 

I know it is impossible to not spend your money on things that decrease in value.  However, it is possible to limit it to things that are necessary.  I also know that the housing market here in California (and across America) has taken a bite out of our confidence in home ownership. 

But, do not let that sway you.  I remember watching a national morning news show one weekend morning and they had a guest on that said something that really resonated with me.  He said if you want to be rich, start with owning a home. 

With all that said, here are a few steps I recommend to start heading in that direction.

  • Pay attention to how you spend your money.  Limit your expenses to the necessities.
  • Try to live below your means.  By doing this, you will find you have more money in the bank (which always feels good).
  • I realize home ownership may not be in the cards for everyone right now, but that does not mean it is out of the picture forever.  If you have the dream of owning a home again, make it a priority now by saving money for a down payment and/or rebuilding your credit.
  • Before you spend your money, think about how it will affect you or your family in the future.  Does it have an effect at all?  If you feel the effect will be negligible or  negative, you may want to rethink the purchase.

Think before you spend…

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Apr 30

Top 5 Little Things You Can Do to Make a Big Difference

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iStock_000007893322XSmall[1]In this economy, I have found that the littlest things can make a big difference. They are:

1.    Set your thermostat – 68 degrees in the winter and 78 degrees in the summer. Try it with these temperatures, pull out a couple of blankets and snuggle with your loved ones or pull out the fans to cool down the room you are in. You will start to notice your utilities bills decreasing.
2.    Watch where you shop – Instead of shopping at your specialty grocery stores, check out Wal-Mart or WinCo. You have to be creative with your timing if you do not like crowds, but it could help your wallet drastically. Try it for a month, then go back and compare, you will like what you see.
3.    Try a big box retailer – I know some people do not like to join places like Costco because they do not like paying the annual fee. You can get the Gold Star Membership for $50 or the Executive Membership that is $100 annually. With the Executive membership, you are able to start shopping an hour earlier than everyone else (great for crowd avoidance) and you get 2% back on all your purchases annually.
4.    Walk the kids to school – I am guilty, I admit it. I live about three blocks from my son’s elementary school and I used to always drive to drop him off and pick him up. Now, weather permitting, I try to walk to pick him up from school. I take the time to clear my head and enjoy nature for a few minutes. On the way home, I listen to my son tell me all about his adventures that day. It is great bonding time. We are getting exercise, helping the environment, reducing stress and saving money to boot!
5.    Shop wisely – Again, I have to admit it, I have been raised to like the finer things in life. I have always shopped at the large retailers at the mall, places you would easily spend $150 on a skirt and top. Recently, my husband and I discovered that the discount retailers really do carry name brand clothes for a fraction of the price. A top I would normally pay $50 for I spent $15 on. How can you beat that?! You still look like a million bucks, but you don’t have to spend it. 
These are just a few of the ideas I have come up with. Please feel free to share with me some of the things you are doing to save your pennies in this economy. I will be happy to share them with everyone in a future article. 
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Apr 23

How Do You Feel When You Spend Money?

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iStock_000001815695XSmall[1]Have you ever thought about how you feel when you buy something?  I never used to.  I walked around wearing Coach shoes and driving a $55,000 SUV (that I really couldn’t afford), thinking I had it all together…or at least that I looked like I had it all together. 

I have been going through a primal shift over the last several months.  This shift really began the day I realized that the SUV I was driving was really a very large anchor pulling me down in the sea of life.   MORE

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