Vending Machine
The Frugal Web: Food Labels, Decode Coupons and Big Charts
With people stuck indoors on the weekend and the spending for Superbowl Sunday done with, now is a good to surf the web and see what other people’s ideas are about frugal living.
First, time to get the bad new out of the way, 9 food label lies. I read through this and found it both enlightening and a little bit depressing. All the more reason to read the ingredient labels thoroughly. Also, serving sizes today aren’t what they used to be (though that may change) - have you measured out what a cup of cold cereal is and compared it to what is usually poured into a cereal bowl? There’s usually a big difference.
Two things jumped out to me while I was reading through SmartSpending’s Learn how to decode coupons - That expiration dates are ending sooner than they used to and that the prevalence of counterfeit coupons that are out there.
We don’t think anything about popping in a dollar into the vending machine or into a money changer - but back in 1929 a money changing machine invention was a big deal and made the pages of Modern Mechanics
The best way for me to learn is to do it as I learn it, the second best way to learn for me are really BIG charts with pictures and lines and all kinds of fun.
Recently Mint.com blog, Lifehacker and Billshrink had some really cool BIG charts that are actually kinda handy.
? Lifehacker has their Best Time to Buy Anything chart and corresponding detailed post on buying times all year around.
? BillShrink has a chart on the best Cell Phone Plans. Of course this is probably the first one to expire of all the charts, but handy still.
? Mint.com Blogs with many charts and this one in particular caught my attention, How Some Companies Prey on Poor People and the chart covers payday loans, credit cards and rent-to-own places.
Speaking of credit and buying stuff - I noticed that Credit Info Center has pulled together the facts on what makes up our FICO scores
I finally got my final W-2 form in the mail on February 5th and I was worried because it is rare that they reach me after January 31st. However, on Walletpop came to my rescue in case I didn’t haven’t all my W-2 forms with help on getting all the tax documents - most important piece of advice, “The IRS instructions specifically request that you wait until Feb. 15 before calling about a missing form“
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Saving Money: The Procrastination and the Games
Saving money can be hard when there is so much stuff that needs to be taken care of, the pipe under the sink is dripping into a bucket or their is an oil stain on the ground under the car. It seems being an adult just makes me want to look around and sigh a lot.
I know that many of these procrastination ideas have gone through my own head, here is how I counter them.
1. I don’t have time to save, and it’s cousin, it takes too long:
Since it depends on the price tag of the item saved for it can take weeks, days or months. But how many times have I bought little frivolous items, maybe even put them on a credit card that I pay minimum on and end up paying double for it in the end?
If I start putting aside $10 a paycheck I can have enough in 3 months to cover most of the cost of a decent pair of much needed new sneakers. I can set up an extra savings account with my bank in less than 10 minutes and have them take the money out automatically and write it down as a bill.
Recently I set up a SmartyPig savings account to get started on next holidays gifts and a summer vacation. The reason I don’t do it with my bank is that the interest is better and if I don’t see the money every time I log into the bank, it isn’t a temptation.
2. What’s the point of savings if I don’t have a goal.
If a certain item isn’t appealing, then go with a certain amount within 6 months and see if the challenge can be met. Of course let’s say a co-worker has tickets to the local NFL game they are willing to part with at half price, that is a spur of the moment decision that savings goals can’t predict. So forget the goal of attaining a certain amount or item, just tell yourself you won’t stop putting $25 into savings for 4 months, no breaks, no distractions and see if the challenge can be met.
3. Saving money is impossible when I’m the only one in the family doing it.
Wait a second, so popping $1.25 into the vending machine can be done without the family but putting $5 a week into a savings can’t be done without the family on board? That doesn’t make sense. Money tears a whole in my pocket, literally. I play with it so much and put holes in my pocket that I need to spend it so I don’t jingle it constantly. Now I don’t keep cash on me, except a dollar at most, no change. If I carry anything more than that it goes into savings or it will be spent.
4. Saving money means I will never have anything good
Unlike food where you can eat all the bland rice and beans you want and none of the fun Twinkies, saving money isn’t like that. Most people’s spending goes towards basics like food, rent, and transportation, but that’s an average, not a rule. If you want to rent a cheap room in a run-down neighborhood so you can afford designer clothing, go for it. Saving money means honoring your own priorities.
5. I have to set up a dreaded budget to save money
Actually, that isn’t necessary at all, since savings could technically be considered a bill. This saving of $5 a week or $50 a paycheck will now be part of the ongoing bills like rent, gas and food. See how simple and much fun that is, plus no budget necessary!
6. I don’t want to live in a dump to take vacations
Then if lowering the standard that you live on isn’t appealing now is the time to get creative and figure out ways to save money on the things being bought today or just making money on the stuff hidden away in the storage room. Heck, this coming tax season, take the refund to the bank, put the raise you get into the bank and live on what you made last year. If the raise is only 20¢ an hour for 80 hours of work, then there is $16 a paycheck to be put away for savings and the standard of living hasn’t changed.
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Living on Less: The Value and the Method
In the simplified version of “becoming wealthy” there are really only two rules along the road.
1. Make more money
2. Live on less
The make more money idea is great until a plateau is hit. Certainly more schooling, a second job and internal promotions can help but eventually it comes down to the annual raises and bonuses unless you have your own business - then there is a bit more control over the income and expansion of the business.
Now the live on less idea is more appealing to me because the benefits are seen much sooner than when one aims to make more money. And the other appeal is that the money saved living on less is not taxed, where as the extra money I make is taxed to the tune of 20% or more.
To take the money that we bring home, no matter if it is 12,000 a year or 1.2 million a year, and making that money stretch further would mean more to me than all the classes I could study. Because I have stretched the dollars that I did bring home by living on less expenses I have given those dollars more value. Below are ways to add value to the dollar.
Track the outgoing spending, even if it is looking over the bank ledger and categorizing what has been spent over a 2-3 month time frame; this tracking gives a pattern to your spending. The best way to fill the holes that let money escape is to jot down every dollar spent at the vending machine, tossed in for ordering lunch and extra snacks purchased when filling up the car. It is these small purchases that leave $30 gaps that can be easily filled by bringing a lunch to work and buying snacks in bulk to have at your desk.
Once money is being tracked, it is easier to figure out how much goes to necessary expenses and how much can be allotted for entertainment. There is not going to be a budget out there that has a one-size-fits-all tag on it and even my own budget can vary from month to month. But by setting up a budget all the money that comes in to the house is designated to go someplace, because if it doesn’t have a spot, it will most always be spent and not saved.
This can be necessary expenses such a lease, it could mean moving or bringing in a tenant to share in the cost. The easier items to cut are utilities, by being contentious of its use and cutting out the unnecessary expenses that come monthly in the form of subscriptions and memberships.
I hate to buy something without finding a coupon code or researching to make sure I am getting the best quality for my money. This would also include purchasing tested out store brand options as well. But, the best way to save while shopping is to not buy unless it is needed and not because it is on clearance. Savings doesn’t always have to found at the retail level, it can be found second-hand through yard sales and classified ads.
When it’s gone, it’s gone. There is no way to float a five until you get paid, instead creativity has to be the name of the game when it comes to putting off a purchase until later and making do for now. Cash also makes itself abundantly clear to it’s owner when it is about to run out, there are no rough estimates or pending transactions.
Making a mechanical or electrical item last even a few months longer may be the necessity until the item can be budgeted and saved for. Decorating a home seems to me to be one of the most expensive parts of having one, however, with a little creativity and patience a home can be decorated with what is already on hand, what can be picked up free from the community and what can be purchased at cut rate prices by getting them second hand
With a high interest loan the money sent each month has very little that goes to principle as the interest is paid down first. By paying extra towards the debt that has the largest interest rate, it is effectively saving money for you by applying that extra towards the principle which make the interest amount lower even though the rate is high.
The natural affect that the above methods of living on less is the abundance of patience and willpower that grows. Sometimes living on less is just saying “No.” or pushing it off for later. Eventually these methods add up and you find yourself flourishing and living well with less and for less.
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15 Ways to Save Money Every Day
We are always looking for ways to save money so I thought I would repost an article a wrote a long time ago giving you a few ideas..
Stay home more- first off with the cost of gas staying home more is just going to save more because you are not driving. But staying home makes sure you are not buying things on impulse.
Get movie Rentals from DVDPlay Or RedBox- These vending machine movies only cost $1 to $1.50 per rental and can be picked up when you are at your grocery store. The only down side is they are one day rentals- so make you have time the next day to return it. Sometimes you can alot find free codes here at FFD or just by doing a Google Search.
Stop drinking soda and juice- Drinking soda a juice on a regular basis is expensive and a habit that is worth breaking. Think of all the calories that you will not be taking in and the money that will stay in your pocket. If you go out to eat soda can add as much as $10 to your bill for a family of 4.
Exercise at home- Drop that gym membership and get a few exercise machines for the home off Craigslist or Freecycle. You can pick them up super cheap (or free) and you also save gas and your time.
Turn the lights off- Turn the lights off when you leave the room- pocketbook and environmentally friendly.
Cook at home- This is a no brainer- eating out is easy and yummy but very expensive. If you have to eat out use the Entertainment Book (below) or order at lunchtime when the menu offers less expensive options.
Shop at yard sales- You would be amazed at how sometimes people literally give stuff away- especially clothes. When your kids are young you can easily get away with yard sale clothing shopping- teenagers might not be so thrilled.
Swap toys with friends- Kids get bored with toys or out grow them so start a swap with all your friends where you trade toys.
Get rid of or reduce your cable- We did this and really- it’s not a big deal. Right not I think we have about 20 channels and I will admit flipping channels does not feel as good as it use to but the $40 a month savings does feel pretty nice.
Freecycle- if you haven’t checked out FreeCycle yet get to their website now!!
Pack a Lunch- When you realize how much it costs to buy lunch every day; packing a lunch doesn’t seem like such a big deal.
Make your own coffee- Make Starbucks a special treat- not an everyday thing.
Entertainment book- I love the Entertainment Book- when you do eat out it is a great way to save money. My family has been using it since I was a teenager. I like it not only for the half price meals but also because it helps you experience new restaurants. There are a lot of multicultural options to choose from.
Day old Bread Store- Half price bread is always a good thing- just watch out for other junk food temptations.
Have “Pot Luck” Dinner Parties- Instead of stressing out over planning a major dinner party go with a theme and have all your friends bring pot luck. It not only spreads out the cost it alleviates the stress.
13 Areas of Wasted Money
I am going to go over some ways you and I may be wasting our money. Of course, you are welcome to add your own thoughts.
1. Lottery- Your chances of winning the Powerball jackpot are 1 in 195,249,054 or you could put together a a Hummer made from losing lottery tickets.
2. Buying a new car every few years — Buying even a used car can be a waste if you do it every few years. The exception to the rule might be someone like my uncle who can take the car apart to the last screw, clean all parts and make it look better than when it was bought, take it back to the dealer and make money on the trade in.
3. Anything you already have that’s “new and improved” — cell phone, computer, most technology or house ware appliance fit into this catagory
4. Credit Life Insurance — This is a waste as it only prolongs payments you have to make anyway and the annual percentage just keeps ticking away on what you owe.
5. Fancy restaurants — These are fine once in a while. But if you are having trouble paying down credit cards, eating out in general might be an item you will want to cross off your list until you have money leftover.
6. Sales — Are you buying something just because it is on sale and getting multiples in different colors, just in case?
7. Courses that teach you how to buy real estate for no money down — There is so much information on the web that you can get for free on real estate and the no money down idea has been torn to shreds.
8. Cable and Satellite services — Again, if you are hard-pressed for money then extra cable channels aren’t a good idea. Unless, one, your job depends on it or two, you are laid up in bed due to illness.
9. Vending Machine Food – They suck you dry one quarter at a time. You know you can buy that bottle of soda at the grocery store for much cheaper in a 6-pack.
10. Lavishing expensive gifts on loved ones — I do this on a rare occasion. Unless your family views love as what is gotten and not the thought behind it, then I think your family will love you even if you don’t give them a trip for two to the Bahamas.
11. Driving to work alone - A majority of us do it, but if you can bike or a scooter or even carpool, then great. Check with your local city or state websites to see if they have a carpool program that would work for you.
12. Designer label clothing - You can find many of the designers you love at your local thrift store for pennies on the dollar.
13. TV Shopping/As Seen On TV Products — There is a reason these are on at night and on the weekends, we get bored or tired and don’t think straight and buy crap we don’t need!
Stashing a Can of Coke in the Company Frig Saves $140
A friend of mine skips past the vending machine where a can or bottle of Diet Coke is $1.25 per container. Instead, from home she brings a can of soda to work every day for a lot less. She purchases a case of soda from the grocery store for a fraction of the unit price charged by the vending machine. Every morning, she chills the can in the office frig until mid-afternoon when she needs a shot of caffeine.
Consider the numbers: Office Depot sells a case of Diet Coke for $12.99. For that price, you get 24 cans of 12-ounce soda for $12.99 or 54 cents a can. In five days, she saves: $3.55. For a one-month period, she saves: $14.20, which equals: $170.40 over a 12-month period.
Here are other Diet Coke prices:
- 32-pack for $15.99 or 49 cents a can at San Francisco Wine Trading Company
- 24-pack for $8.63 or 36 cents a can at Bright Shine
Of course, instead of soda, juice or sports drinks, we could all drink free filtered water from the fountain or kitchen sink. Water is a healthier, no-calorie drink without preservatives, artificial flavors, sugar or sugar-substitutes.
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