by Scott Howard | Feb 11, 2013 | Monday Money, Really? The Personal ScLoHo
This weeks Monday Money tip is based on something we’ve been doing more of recently.
Free movie rentals from our public library.
1st let’s look at the alternatives.
Friday nights are when movies debut in most theaters. Price for 2 tickets are going to range from $16 to $24 just to get in the door. Add in snacks and you have another $10 to $30 on your credit card.
That’s just for 2. Got kids? You need a 2nd mortgage or 2nd job to take the family to the movies.
Even if you go to matinees, or the “Dollar Shows”, you still spend something on snacks I bet.
Blockbuster Video was a great alternative we thought about 10 years ago. I was renting videos when they were still on VHS tape, not DVD’s.
Then we started renting from a smaller chain, closer to home, Family Video.
This was our habit for quite awhile. Here’s the problem:
We were still spending $3 or more for movies.
Why more? We would check out 2 or more at a time in case one of the movies either:
- Blowed
- Was one that we saw before.
The friendly folks at the video store would never tell us that we already saw a movie, they just happily took our money.
So a few other alternatives:
- Netflix. Okay, but you’re still paying
- Redbox. Again, okay, but you’re still paying.
My goal was to reduce the cost of viewing movies to even less.
Enter the old standby. My public library.
If I truly want free movies, I need to factor in the travel cost.
In Fort Wayne, we have a county wide library system which means several branches which means easy access to at least a couple of locations nearly every day.
Now we can check out free movies with a three day or longer checkout. We can even place a hold on a movie, reserve it ahead of time, or renew it online.
Free Movies from the library have been another way for us to reduce our monthly expenditures with very little sacrifice.
by Scott Howard | Feb 4, 2013 | Monday Money, Really? The Personal ScLoHo
A Different slant to Monday Money today…
I want to call to attention the contrast between not having enough, and having more than needed.
I have been blessed to never have an empty kitchen.
Growing up in a middle class family in the midwest, our kitchen cupboards were never empty.
As a single teen moving out on my own, I don’t recall the contents of my kitchen cupboard, but there was always something.
Now my wife and I are looking around our home and slowly but surely, we are using up, giving away, selling, or getting rid of stuff.
Creative cooking has resulted in some tasty dinners using every thing from old boxes of pasta to canned soups, fresh veggies that aren’t nearly as fresh and a few spices.
My wife also has a habit of sharing leftovers. Some may think, “Who wants second-hand food?” But the recipients usually see it as a quick and easy microwave ready meal!
We really don’t have a food shortage in this country, we have a food distribution problem. We have an abundance of food, and yet there is scarcity of food in our midst.
Much food is wasted, I’ve seen recent stories that say up to 50% of the food in this country is thrown away due to waste, including restaurants that put too much food on a plate, to food that never gets into the hands and mouths of people who are unable to afford it.
Panera Breads has been featured a couple of times with a concept they have launched in Boston and other cities, that helps remove some of the barriers.
Here in Fort Wayne we have several churches, and other ministries that are feeding those who need food.
Food is just one item, look around and you’ll see many more that fits into this abundance/scarcity concept in our lives.
My challenge to each of us is to not turn a blind eye to the abundance in our lives and the scarcity in others lives, but to be open to see what we have been blessed with in a new light, perhaps some of what we have can be used as a blessing for others.
by Scott Howard | Jan 28, 2013 | Monday Money, Really? The Personal ScLoHo
Monday Money continues with advice to those of us who are impulsive.
Stop.
Okay, that’s too simple.
Couples that agree about spending (and are successful) often do very little impulse spending.
Or they have a budget for impulse spending!
Nearly each time I had to make an important decision to make, I would force myself to wait. It could be for a few hours, or a few days.
Generally I would put it off until the next day and see how important it was after a good nights sleep.
Granted there are times when you need to decide right now, but not as often as you might be doing now.
Replace a furnace? We made that decision in an hour.
Replace a car? I did that last year when the car died on a Saturday afternoon. Sunday I went to my favorite used car dealer and did my research including CARFAX reports with the VIN #’s from 4 cars I was considering.
Then on Monday, my wife dropped me off at the dealership and I checked out each car and made my decision WHICH car to buy, not IF I should buy.
I’ve done the opposite too. Last fall I wanted to get a better deal on my cellphone and ended up walking out with a new phone and 2 year agreement.
A month later, I finally gave up that phone, paid the penalty and it cost me dearly. I should have followed my usual Sleep on It rule.
Besides spending money, this Sleep on It rule can apply to many other areas of our lives too.
What do you do to control impulse spending?
by Scott Howard | Jan 21, 2013 | Monday Money, Really? The Personal ScLoHo
Our Monday Money feature continues with a bare bones budgeting tip.
I was once one of those guys who would forget to pay bills even though I had the money.
The mail would come and I’d put the bills in a pile on my desk at home along with the rest of the mail and eventually I’d pay them.
The problem with that nonchalant attitude is sometimes you get dinged late fees on top on what you owe.
Some people are surprised when they get an electric bill in the summer that is double what they paid in the winter, or a winter gas bill that is triple what they paid in the summer. My solution for this I’ll have in a moment but first things first.
I came up with a simple form using a spreadsheet in Microsoft Excel that lists everything from my mortgage and each utility to other items that I know are going to be due each month.
My spreadsheet lists Who, What, Account #, Website, User ID, Password, How Paid, Monthly Amount, Due Date, Current Balance, Amount Paid, Date Paid and New Balance.
I don’t write paper checks except to my church, everything else is done online.
Some bills are on an auto-pay system either from my checking account, or from the utility.
I followed this pretty religiously for a few years, but that’s a lot of paperwork.
I have an even more basic system now.
I refer to my spreadsheet as a reference, but now I have a running Word Document that lists the Who, Monthly Amount and When Paid.
I list what bills I will pay with upcoming paychecks, even if I don’t have the exact amount yet.
An example would be our water and sewage bill. I estimated 60 bucks. When I got the bill in my email last week, it was 62.15 which I promptly paid and jotted down the real amount.
Here’s the tip that I have found to be a real lifesaver and that is signing up for the budget plan for our gas bill. We have a natural gas water heater and furnace. The actual usage dollar amount ranges from less than $10 for a month last summer to $155 for last month. My budget plan is $61 a month.
Now perhaps you have the discipline to set aside the funds into a savings account of your own and create your own version of a utility budget plan. Good for you.
My wife and I also have a savings account designed as a place to deposit funds for an upcoming trip.
But since the majority of Americans are living paycheck to paycheck, I have a feeling today’s tips on bare bones budgeting might help a few folks out.
What budgeting tips can you offer to help people keep their heads above water financially?
by Scott Howard | Jan 14, 2013 | Monday Money, Really? The Personal ScLoHo
I subscribe to a few email blogs and I used to share a lot of the articles from Dumb Little Man.
Here’s an abbreviated version of an article they shared recently:
There are no secrets to this strategy. It’s just common sense. Here are my 10 favorite ways to live beneath your means:
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Whenever possible, buy store brands.
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Avoid prepared foods.
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Shop at “you-bag-it” supermarkets.
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Brown bag your lunch.
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Don’t buy clothes or shoes with designer labels.
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Use coupons, but be smart about it.
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Buy used books instead of new.
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Keep your car as long as you can.
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Severely restrict your credit card spending.
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Reward yourself for your efforts.
Now some of those need a bit of explanation, so check out the original story.
by Scott Howard | Jan 7, 2013 | Monday Money, Really? The Personal ScLoHo
It’s another Monday Money discussion, and this time I want to share with you what you’ll notice when you get your next paycheck.
It’s 2% less.
That’s because “the payroll tax cut temporarily lowered the tax rate to 4.2 percent from 6.2 percent for income contributed to the Social Security program. The cut was designed to put more money into Americans’ hands and act as an economic stimulus.”
That 2 percent cut that went into effect in 2011 expired at the end of 2012.
So you and I have choices to make.
Earn more or spend less. Both if you can.
A couple months ago, my wife and I took a good hard look at our spending and I found ways to save up to $3100 a year that I’ve shared with you during previous Monday Money articles.
We also found ways to save a few dollars here and there by changing habits and routines.
As we move forward into this new year, I welcome your ideas and suggestions that I can share with others on what each of us can do. Drop me an email to Scott (at) ScLoHo.net.
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