The Money Dare - 40 Days and 40 Ways to Save Money
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Day Six - Dare to Go Cashless
Most of the time I have very little if any cash in my wallet and I have
probably only written ten checks in the past year. Virtually all of
our bills are paid automatically through our debit cards or checking
accounts. Sometimes it's a little inconvenient but generally I am able
to use my debit care wherever I need to spend money.
The other day I took my wife's car to the nearby truck stop to fill it up with gas. Since I had no cash on me I paid at the pump with my debit card. Then I went inside to get her a cup of ice. She's addicted to their crushed ice, which used to be free but now they charge $0.50 for the cup. Anyway I thought I had at least a dollar on me until I reached the counter. Not wanting to use my debit card for a mere $0.50 transaction I asked the cashier if I could get cash back if I paid using my debit card. The cashier said no and pointed me to their ATM machine by the door. I thought I needed a little pocket money and was about to make a withdrawl until I saw that the machine charged $3.50. If I had used my ATM card I would have had to pay $3.50 at the ATM and my bank would have charged me another $2.00 on top of it. Adding it up in my head that cup of ice would have actually cost me $6.00. I set the cup down and walked away.
I hate paying foreign ATM fees. I remember when ATM's first came into use by banks. Initially they were installed to offload some of the tellers work and their fees were reasonable (between $0.50 and $1.00). At that time banks were saving money by not having to hire more tellers and customers were offered the convenience of being able to withdraw money or make deposits 24 hours a day. But over the years banks have come to rely on ATM fees as revenue streams. If I had paid $5.50 to take out $50.00 I would have paid 11 percent, if I had taken out $20.00 the interest rate would have been 27.5 percent. Do this a couple times a week or month and it really gets out of hand. So unless you are really, really desperate for cash, only use your ATM card at your home bank.
The other day I took my wife's car to the nearby truck stop to fill it up with gas. Since I had no cash on me I paid at the pump with my debit card. Then I went inside to get her a cup of ice. She's addicted to their crushed ice, which used to be free but now they charge $0.50 for the cup. Anyway I thought I had at least a dollar on me until I reached the counter. Not wanting to use my debit card for a mere $0.50 transaction I asked the cashier if I could get cash back if I paid using my debit card. The cashier said no and pointed me to their ATM machine by the door. I thought I needed a little pocket money and was about to make a withdrawl until I saw that the machine charged $3.50. If I had used my ATM card I would have had to pay $3.50 at the ATM and my bank would have charged me another $2.00 on top of it. Adding it up in my head that cup of ice would have actually cost me $6.00. I set the cup down and walked away.
I hate paying foreign ATM fees. I remember when ATM's first came into use by banks. Initially they were installed to offload some of the tellers work and their fees were reasonable (between $0.50 and $1.00). At that time banks were saving money by not having to hire more tellers and customers were offered the convenience of being able to withdraw money or make deposits 24 hours a day. But over the years banks have come to rely on ATM fees as revenue streams. If I had paid $5.50 to take out $50.00 I would have paid 11 percent, if I had taken out $20.00 the interest rate would have been 27.5 percent. Do this a couple times a week or month and it really gets out of hand. So unless you are really, really desperate for cash, only use your ATM card at your home bank.
Day Five - Dare to Ride a Scooter
Last summer when gas prices spiked to over $4.00 per gallon I couldn't get the idea of owning a scooter out of my head. I kept thinking about the time I spent driving by myself in my car. Most of the trips I made were to and from work or to the grocery store for a handful of items. In most cases it wasn't necessary to drive a car but that was all I had. At that time I was spending about $40.00 a week on gas just to get to and from work and the occasional trip to the store.
I read all kinds of scooter reviews on the web and looked at several motor cycle shops in search of the right scooter. Finally I decided to buy Yamaha Vino 125 from a local dealer. It it black and shiny and looked pretty cool (to myself anyway). Most of the people I told about my scooter thought it was pretty dorky until I told them that it got about 90 miles per gallon.
I read all kinds of scooter reviews on the web and looked at several motor cycle shops in search of the right scooter. Finally I decided to buy Yamaha Vino 125 from a local dealer. It it black and shiny and looked pretty cool (to myself anyway). Most of the people I told about my scooter thought it was pretty dorky until I told them that it got about 90 miles per gallon.
Day Four - Dare to Plant a Vegetable Garden
Today was my 38th birthday. My brother called to remind me that I'm
pretty darn close to 40. My checking account currently has a whopping
$13.26 in it but I am happily married, relatively healthy and have a
few good friends and a really great family, oh! and payday is on
Friday. My favorite birthday present (besides the "Guitar Hero"
pajama bottoms and homemade oatmeal cake) was some vegetable seeds.
My wife and daughter must think I'm as crazy as my boss (he could be the subject of a whole other blog altogether) for thinking that we're going to plant a vegetable garden this hear. They caught me browsing the Burpee and Gurney's websites a few weeks ago, so as a joke they bought me some vegetable seeds for my birthday. I now have summer squash, garden beans, peas, sweet corn, tomatoes, watermelon, radishes and carrots to plant this spring. Little do they know that I plan to add lettuce, cucumbers and pumpkins
.
I have never planted a garden but I do take learning and saving money very seriously so between now and May I have lots of homework to do. We live in an old farmhouse that sits on 65 acres of land in the "middle of nowhere" Western New York. When I meet new people and tell them where I live I say that there are more cows around here than people. So finding room to plant a garden will not be a problem. Besides, Mickey said that she used to have a vegetable garden...so I'm expecting a little help. I do however forsee a problem with our dogs Mason and Mia digging things up as quickly (or slowly) as I can plant them.
Seriously, I believe that inflation will become a huge problem over the next few years especially with a Democratic President, House and Senate handing out "stimulus checks" as campaign literature. I can't see how growing a little of our own food could be anything but a win-win situation for us. It could also be a great source of good old family fun and bonding. So I dare you to pick up a shovel, grab a hoe (no not that kind), put on some coveralls and join me. I promise I will keep you updated as planting season approaches.
Tomorrow I will tell you how I get 90 miles per gallon.
My wife and daughter must think I'm as crazy as my boss (he could be the subject of a whole other blog altogether) for thinking that we're going to plant a vegetable garden this hear. They caught me browsing the Burpee and Gurney's websites a few weeks ago, so as a joke they bought me some vegetable seeds for my birthday. I now have summer squash, garden beans, peas, sweet corn, tomatoes, watermelon, radishes and carrots to plant this spring. Little do they know that I plan to add lettuce, cucumbers and pumpkins
.I have never planted a garden but I do take learning and saving money very seriously so between now and May I have lots of homework to do. We live in an old farmhouse that sits on 65 acres of land in the "middle of nowhere" Western New York. When I meet new people and tell them where I live I say that there are more cows around here than people. So finding room to plant a garden will not be a problem. Besides, Mickey said that she used to have a vegetable garden...so I'm expecting a little help. I do however forsee a problem with our dogs Mason and Mia digging things up as quickly (or slowly) as I can plant them.
Seriously, I believe that inflation will become a huge problem over the next few years especially with a Democratic President, House and Senate handing out "stimulus checks" as campaign literature. I can't see how growing a little of our own food could be anything but a win-win situation for us. It could also be a great source of good old family fun and bonding. So I dare you to pick up a shovel, grab a hoe (no not that kind), put on some coveralls and join me. I promise I will keep you updated as planting season approaches.
Tomorrow I will tell you how I get 90 miles per gallon.
Day Three - Dare to Shop at Salvation Army
Over the years we have given a lot of our unused clothing, bedding, kitchen items, furniture etc to the Salvation Army Thrift Store. We have also returned there occasionally as a buyer. We have bought clothes, books, decorations and even Halloween costumes. One our better purchases was a queen sized bed frame our 16 year old daughter.
About a year ago we noticed that our daughter was sleeping most nights on a futon in the landing/computer area upstairs. She had basically turned that part of our house into her second bedroom. She didn't come right out and say it but we believed that she was sleeping there because she had outgrown her bedroom or more specifically her bed. Her bed really wasn't that old but it was fairly small for a teenager.
Anyway we had a spare queen sized mattress but no frame, so we went to the local Salvation Army store and found a frame and headboard in decent shape. However, it was painted white and kind of ugly for a teenager's bedroom. She had just entered her "John Deere" phase, it seems as though everything she's wanted in the past year has to have a John Deere logo, even her belly button ring. Mickey decided to crackle paint her "new" bed frame John Deere green and yellow. We scraped and sanded off as much of the white as we could, painted it yellow then green, put the crackle glaze on it and topped it off a few coats of polyurethane. The whole project cost about $60 and I have to agree that it looks pretty cool.
If you look in the places you can find great deals at thrift stores.
About a year ago we noticed that our daughter was sleeping most nights on a futon in the landing/computer area upstairs. She had basically turned that part of our house into her second bedroom. She didn't come right out and say it but we believed that she was sleeping there because she had outgrown her bedroom or more specifically her bed. Her bed really wasn't that old but it was fairly small for a teenager.
Anyway we had a spare queen sized mattress but no frame, so we went to the local Salvation Army store and found a frame and headboard in decent shape. However, it was painted white and kind of ugly for a teenager's bedroom. She had just entered her "John Deere" phase, it seems as though everything she's wanted in the past year has to have a John Deere logo, even her belly button ring. Mickey decided to crackle paint her "new" bed frame John Deere green and yellow. We scraped and sanded off as much of the white as we could, painted it yellow then green, put the crackle glaze on it and topped it off a few coats of polyurethane. The whole project cost about $60 and I have to agree that it looks pretty cool.
If you look in the places you can find great deals at thrift stores.
Day Two - Dare to Cook at Home
After my nap yesterday I did manage to get to the store for groceries but didn't buy that much. We picked a few things for breakfast the next week and supper tonight. The total bill before our savings was $45.15. We saved $8.09 using the stores "shoppers club" card and $1.55 using coupons. The shoppers club card also gives us $0.10 off gas for every $100 that we spend and according to them I have saved $94.53 this year so far and have earned another $0.10 of in gas. Woo hoo! On my way out I picked up the local newspaper to cut coupons.
I looked through the coupons for products that we actually buy. I figure we will save about $50 which is pretty good considering that the newspaper cost only $1.50. It took only and a few minutes to cut them out. Following is a list of some of the coupons I found:
* $1.00 off Cascade diswasher tablets
* $1.00 off paper towels
* $1.00 off two Tide Laundry detergent
* $0.20 off Downy Fabric Softener
* $0.55 off Zone Protein Bars
* $0.20 off Bounce Fabric Softener
* $0.40 off battered Fish Filets
* $1.00 two packages peperoni
* $1.00 off Feminine Pads
* $1.00 off Crest Toothpaste
* $10.00 off Crest Whitening Strips
* $1.00 off Olay body wash
* $10.00 off PetCareRx.com
* $1.00 off two Red Hot Sauce
* $1.00 off Secret Clinical Strength Deodorant
* $1.00 off Secret Deodorant
* $2.00 off Gillette Razors
* $1.00 off Duracell Batteries
* $1.00 off Gillette Body Wash
* $1.00 off 4 Campbells Chunky Soup
* $1.00 off 5 Campbells Creme Soups
* $4.00 off Red Lobster
The trick to using coupons is to only buy items that you actually need and/or use. You also have to be careful while shopping with coupons in hand...just because you have a coupon for $1.00 off a particular item it doesn't necessarily mean that you are getting the best deal.
Okay now it's time for todays Money Dare. Dare to Cook at home. Recently we considered going out to brunch with my parents. I called a local restaurant that I knew served brunch and they were charging $10.00 per person plus tax and tip. It sounded reasonable except that there were five of us. It would have cost over $60, so instead I went to the store and bought some eggs, potatos, bacon, sausage, pancakes and OJ. The whole meal cost less than $20. Ka-ching!
Another tip is to save your leftovers for lunch. Tonight we had spaghetti and meatballs. As I was cleaning up I put the leftover meatballs in some Tupperware to take to work tomorrow. It's amazing how much you can save by not spending $5 to $10 everyday for lunch. Also skip the convenience store coffee on your way in. Instead get yourself a travel mug and make your coffee at home.
I looked through the coupons for products that we actually buy. I figure we will save about $50 which is pretty good considering that the newspaper cost only $1.50. It took only and a few minutes to cut them out. Following is a list of some of the coupons I found:
* $1.00 off Cascade diswasher tablets
* $1.00 off paper towels
* $1.00 off two Tide Laundry detergent
* $0.20 off Downy Fabric Softener
* $0.55 off Zone Protein Bars
* $0.20 off Bounce Fabric Softener
* $0.40 off battered Fish Filets
* $1.00 two packages peperoni
* $1.00 off Feminine Pads
* $1.00 off Crest Toothpaste
* $10.00 off Crest Whitening Strips
* $1.00 off Olay body wash
* $10.00 off PetCareRx.com
* $1.00 off two Red Hot Sauce
* $1.00 off Secret Clinical Strength Deodorant
* $1.00 off Secret Deodorant
* $2.00 off Gillette Razors
* $1.00 off Duracell Batteries
* $1.00 off Gillette Body Wash
* $1.00 off 4 Campbells Chunky Soup
* $1.00 off 5 Campbells Creme Soups
* $4.00 off Red Lobster
The trick to using coupons is to only buy items that you actually need and/or use. You also have to be careful while shopping with coupons in hand...just because you have a coupon for $1.00 off a particular item it doesn't necessarily mean that you are getting the best deal.
Okay now it's time for todays Money Dare. Dare to Cook at home. Recently we considered going out to brunch with my parents. I called a local restaurant that I knew served brunch and they were charging $10.00 per person plus tax and tip. It sounded reasonable except that there were five of us. It would have cost over $60, so instead I went to the store and bought some eggs, potatos, bacon, sausage, pancakes and OJ. The whole meal cost less than $20. Ka-ching!
Another tip is to save your leftovers for lunch. Tonight we had spaghetti and meatballs. As I was cleaning up I put the leftover meatballs in some Tupperware to take to work tomorrow. It's amazing how much you can save by not spending $5 to $10 everyday for lunch. Also skip the convenience store coffee on your way in. Instead get yourself a travel mug and make your coffee at home.
Day One - Dare to Use Coupons
Today is March 1st, 2009.
A few weeks ago my wife Mickey and I watched the movie "Fireproof". My first impression of the movie was that it seemed a half step off. A little like those after school specials I remember as a kid...thrown together quickly, cheaply produced, poorly acted, melodramatic and a little too preachy. I remember feeling very cynical after watching the movie especially when I saw an advertisement just before the credits rolled for book called "The Love Dare". As I saw it then the main objective of the movie was to sell a book; if a few marriages get saved or a couple more people show up in church next Sunday....well that's a bonus. Since then we have had several conversations about the movie and she has pretty much "dared" me to buy the book. I consider myself a very considerate person but I do agree that I tend to fall into a rut like a lot of people and sometimes take things for granted.
The first nice thing I remember Kirk Cameron trying to do for his wife was to make her coffee one morning. (I make our coffee most mornings so I figure I already have a head start on most people). Anyway, this morning as I was pouring the water an idea came to me....since money is at the root of so many marital problems and financial hardship is at the forefront of every ones mind right now why not start the "The Money Dare".
So here we go, for the next forty days I will post something new about our financial situation as well as a new money saving tip to try for yourself. First a little background...
I will be 38 years old on Wednesday and my wife Mickey is 39. We both work, Mickey as a full time Skill Builder for a local non-profit and part time as a hair dresser out of our home. I work for a small payroll company and wear many hats (programmer, sales, customer support) and work about 45 hours a week and occasionally on Saturday's. She has two daughters (17 and 21) from previous relationships one of whom lives with us. I have no children of my own. We both would like more children and since it is too late to try for a pregnancy we are looking into foster care and/or adoption.
We have known each other for about two and half years and got married in July of last year. Before meeting Mickey I was working over 60 hours per week but still struggling to keep my head above water financially. A couple of years ago I cashed out about $12,000 of my employer sponsored IRA in order to pay off my credit cards. At the time it was the best thing I could have ever done but I still owe roughly $6,000 in unsecured debt. Mickey was recently divorced when I met her. She was working two jobs, trying to go back to college and raise her 15 year old daughter at the same time. She was struggling, but making ends meet.
Presently our household gross income is well above the local average. However, I am embarrassed to tell you that as of today we only have about $200 between the two of us in our checking accounts. For the past two years it seems as though we will never get "caught up" on our bills. Now I am not crying poverty but it would be nice to not have to worry about paying overdraft fees before next weeks paychecks come in.
Today we need to get groceries. Dare to Use Coupons. Before we go to the grocery store today I will get the local Sunday paper and cut out coupons for items we will need and use in the coming week. Tomorrow I will let you know how much I spent and saved. Until then it's time to take a nap.
A few weeks ago my wife Mickey and I watched the movie "Fireproof". My first impression of the movie was that it seemed a half step off. A little like those after school specials I remember as a kid...thrown together quickly, cheaply produced, poorly acted, melodramatic and a little too preachy. I remember feeling very cynical after watching the movie especially when I saw an advertisement just before the credits rolled for book called "The Love Dare". As I saw it then the main objective of the movie was to sell a book; if a few marriages get saved or a couple more people show up in church next Sunday....well that's a bonus. Since then we have had several conversations about the movie and she has pretty much "dared" me to buy the book. I consider myself a very considerate person but I do agree that I tend to fall into a rut like a lot of people and sometimes take things for granted.
The first nice thing I remember Kirk Cameron trying to do for his wife was to make her coffee one morning. (I make our coffee most mornings so I figure I already have a head start on most people). Anyway, this morning as I was pouring the water an idea came to me....since money is at the root of so many marital problems and financial hardship is at the forefront of every ones mind right now why not start the "The Money Dare".
So here we go, for the next forty days I will post something new about our financial situation as well as a new money saving tip to try for yourself. First a little background...
I will be 38 years old on Wednesday and my wife Mickey is 39. We both work, Mickey as a full time Skill Builder for a local non-profit and part time as a hair dresser out of our home. I work for a small payroll company and wear many hats (programmer, sales, customer support) and work about 45 hours a week and occasionally on Saturday's. She has two daughters (17 and 21) from previous relationships one of whom lives with us. I have no children of my own. We both would like more children and since it is too late to try for a pregnancy we are looking into foster care and/or adoption.
We have known each other for about two and half years and got married in July of last year. Before meeting Mickey I was working over 60 hours per week but still struggling to keep my head above water financially. A couple of years ago I cashed out about $12,000 of my employer sponsored IRA in order to pay off my credit cards. At the time it was the best thing I could have ever done but I still owe roughly $6,000 in unsecured debt. Mickey was recently divorced when I met her. She was working two jobs, trying to go back to college and raise her 15 year old daughter at the same time. She was struggling, but making ends meet.
Presently our household gross income is well above the local average. However, I am embarrassed to tell you that as of today we only have about $200 between the two of us in our checking accounts. For the past two years it seems as though we will never get "caught up" on our bills. Now I am not crying poverty but it would be nice to not have to worry about paying overdraft fees before next weeks paychecks come in.
Today we need to get groceries. Dare to Use Coupons. Before we go to the grocery store today I will get the local Sunday paper and cut out coupons for items we will need and use in the coming week. Tomorrow I will let you know how much I spent and saved. Until then it's time to take a nap.
