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Debt Snowball Vs. Debt Avalanche

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Two of the most common methods for paying off debt is the Debt Snowball and the Debt Avalanche.  Neither of these methods are superior to the other.  They both have great qualities and offer excellent motivation for getting rid of debt.

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Debt Snowball

The Debt Snowball is the method Dave Ramsey recommends.

When using the Debt Snowball you will list your debts in order from the smallest debt to the largest.

While continuing to make minimum payments on all debts, begin actively trying to pay off your SMALLEST debt FIRST.

This will mean that you will use ANY extra money that comes your way to paying off this one debt.

The reasoning behind the Debt Snowball is while starting small, you will gain confidence and traction.  As you pay off those small debts you will have more practice and motivation to be able to tackle the larger debts.

For Example…..

$5,000 Car Loan

$800 Credit Card Payment

$25,000 Student Loan

Pay off the credit card first, while continuing to make minimal payments on the other two debts.  Next you will pay off the car loan, and then lastly you will tackle the student loan.

Debt Avalanche

In the Debt Avalanche you will list your debts in order from the highest INTEREST to the lowest interest.  You will then continue to make all minimum payments for all debt while focusing all extra cash to paying off your debt with the highest interest rate.

The point of the Debt Avalanche is that by getting rid of the debts that charger higher interest you will be able to pay off the debt quicker.

The Debt Avalanche WILL have you spending LESS money overall than the Debt Snowball.

For Example…

$5,000 Car Loan with 4% interest

$800 Credit Card with 10% interest

$25,000 Student Loan with 5% interest

If following the Debt Avalanche method you will pay off the credit card first, followed by the student loan and then you will pay off the car loan.

What Works for You?

Soooo……what does this all mean for you?

The answer to that question will be personal.  It will be different for everyone.  There is no RIGHT or WRONG method.

If you are feeling overwhelmed and unsure of yourself, then perhaps the Debt Snowball would work best in favor.  It helps you start small and gain quick wins at the beginning.

If you are feeling super motivated and you want to get rid of that debt ASAP, then you might prefer the Debt Avalanche.  This method will get you aggressively paying off that debt and will cut out some of those interest costs.

What do I recommend?

I personally recommend you research, research and more research.  Study everything you can about both the Debt Snowball and Debt Avalanche.  Once you have studied everything you can, make your decision.  You will naturally feel more comfortable and be drawn to a certain method.

Once you make the decision best for you, GO WITH IT, own it.  Do everything in your power to get rid of that debt.  Check out the article What we cut from our budget to save over $2500 a year, for a few ideas on finding some extra cash in your budget.

I promise paying off debt WILL be hard…..but I also promise that your future self will THANK YOU for being willing to put in the work.

 

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The life lessons that taught me to budget for JOY while living in the present!

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budget for joy

I’ve been asked a few times my opinion about spending money on life experiences right now, or if it’s best to keep saving and wait for the future.

The obvious answer from a frugal, budget loving blogger, who loves to encourage everyone to spend conservatively and plan for their future, would be to advise everyone to wait until later and build your wealth now…..

However……..

I actually feel very strongly about the importance of budgeting money to experience JOYFUL experiences right now.  In THIS moment….because, you know what, those golden years you are anxiously waiting for, they just might not come…..

My sweet mother was a huge saver.  I have learned ALL of my frugal ways from her.  And, the truth is……I’m still not as frugal as she was, I don’t think I’ll EVER be as frugal as she was.

I think the thing I admire most about her is the fact that she did NOT need to be frugal, she had a very comfortable income.  She CHOSE to be frugal because she understood the value of saving money.

She passed away when she was 48.  I was 22.

Losing her at such a young age has had a HUGE impact on the way I view life.  I have developed the mindset that life is temporary, short, and fragile.  It is a gift to be treasured and celebrated.

I am fairly confident in saying that my natural instincts would be to save EVERYTHING for the future and look forward to enjoying life once that comfortable retirement kicks in.

But…..my life experiences, have taught me a different lesson.  I do believe in saving for your future…..I ALSO believe in spending some money on enjoying life in the present.

I have begun to focus on BALANCE.

It MUST be a priority to pay off all debt, save aggressively for your retirement, save to send your kids to college, try to build wealth, etc…..

At the same time, you need to budget for a little bit of JOY.

This does NOT mean it’s ok to go on a luxury vacation while charging everything to your credit card.  This is NOT an excuse to blow your budget because you are “enjoying life.”

It does mean it is ok (and I would argue important) to give yourself some fun money, take a break every now and then, explore the areas around you, and LIVE life to it’s fullest.

This will look different for everyone.  For some this could be a weekend road trip, others might prefer a quiet stay cation.  It doesn’t matter what it is you do for JOY, it only matters that you are taking the time and effort to do it!  (and…you know what, it actually doesn’t need to cost a lot of money to have meaningful, joyful experiences!)

Be intentional with your spending.  Intentional with saving money.  Intentional with budgeting and building wealth.  But also, be intentional with your life experiences.  Life is to short to only enjoy it when you get older…..make sure you are experiencing it right now too!

I would love to know your opinion on this subject!  We each have had different life experiences that have shaped us into the people we are today.  Do you agree or disagree with my thoughts?  Are you trying to be intentional with budgeting AND enjoying life?  Let me know in the comments!!

 

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Budgeting for Beginners: FAQ

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I receive so many messages on a daily basis from people wanting to start managing their money and living frugally, but they don’t know how to take that first step.  I admire everyone who wants to improve on their life and financial situation, it can be scary trying to make such a big change into the unknown.  I decided it was time for a FAQ article for all you brave beginners.

I asked my followers on instagram for all their budget beginner questions and today I will be answering a few of those.

A great place to start for a beginner is with my Free 14 Day Frugal Living Challenge.  This is a challenge made specifically for those just starting to manage money and live frugally.  This will give you a good starting place and should help you develop frugal habits.

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Where do I begin?

The best place to begin is your budget.  It is vital you have a working budget.

If you are new to budgeting, it might take you a while to figure out just how much money to budget for each category.  This is normal!  A budget is fluid, meaning it is always changing.  The budget below is one that I made as a free printable.  It has many of the categories I use in my personal budget and is also easy to customize and add your own.  This (along with the spending tracker below) is available for free in my 14 Day Frugal Living Challenge.

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You will also need to begin tracking all of your expenses.  This helps you keep your budget accurate, and gives you a great window into your spending habits.  By tracking your spending habits, you will be able to see what areas you are over spending in and areas you could cut back.

A great resource, and the book that completely changed my financial views, is Dave Ramseys book, The Total Money Makeover.  Check it out from your library, borrow it from a friend, or order it from Amazon.  No matter how you get it, I HIGHLY recommend everyone read it.  Dave Ramsey uses easy to understand terms as explains exactly how to fix your financial situation.

What is the best way to keep track of day to day spending?

There are a few different ways of doing this.  It doesn’t quite matter HOW, it just matters that you do it and that you stay consistent.

For years we used an excel spreadsheet that my husband made.  It took quite a bit of work for him to put it together, but it worked out really well.

About 7 years ago we discovered You Need a Budget.  It is so user friendly and very affordable.  You can download the app onto your phone and update it as you spend.  This is not sponsored in any way, we REALLY do love it!  A similar program is Every Dollar, I have never tried it, but have heard lots of good things.

There is also the good ol’ standard paper and pen method.  I’ve never tried this method, but I do know other people who enjoy it!

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When tracking spending it is important to stay consistent.  Pick a day of the week, schedule a time, and develop a routine for tracking your spending.  We do it every Monday evening.  We save all of our receipts and go through each item one by one and write it down.  It is not necessary to write EVERYTHING down, for example:  when buying groceries, just write groceries and the amount.  There is no need to write down bread and bananas, etc.

You could track your spending daily on your phone, or weekly like we do.  Try a few different things until you find a good fit for you.

How do you start the envelope system?

Using cash envelopes is a great way to limit your spending.  I have an article written all about how to get started and the benefits you’ll gain.  You can check it out at The Envelope Money System: A Beginners Guide.

How do you make a grocery budget?

My grocery budget has been all over the place.  When I first started budgeting, I set the grocery budget FAR to low.  I kept going way over the budgeted amount and couldn’t figure out how to cut the costs down.  I finally decided that I needed to budget more money for our weekly groceries.

I tell this story to give you encouragement that all budgets, but especially grocery budgets, are trial and error.  It might (and probably will) take you a few months before you have the best budget for you.

While you are tracking your spending you should be able to see how much you are normally spending on groceries.  This gives you a good ballpark figure to begin with.  If you feel it is unnecessary spending, you can try to slowly bring the budget down week by week until you get it to a place you feel comfortable with.

How do you minimize grocery costs?

Groceries are one of the biggest expenses for most budgets.  This is one of my personal struggles.

The number one way I have found to keep those costs low is to meal plan.  Plan out every meal you want to eat for the week.  As you meal plan, write out your grocery list, and stick to this list while you shop.  I’ve found using Walmart Grocery Pickup has helped me to stick to my list, AND my budget.

A few other ways to lower grocery costs are to cook from scratch (avoid convenience foods), shop sales, and use the cashback apps regularly.

What are the easiest apps for frugal beginners?

I love cashback apps!  Long gone are the days when you have to sift through ads and cut out coupons, now all you need is a receipt and an app on your phone!  I actually love these apps so much I already have an article written about all my favorites.  You can find it here:  My Favorite Cashback Apps.

What should my budget look like?  What is normal for our family?

No two budgets will look the same.  My normal will be different than your normal.  What I spend on groceries, will be different then what you will spend on groceries, etc.  This is one of my favorite parts of a budget.  You can customize it and find something that works for you personally!

I prefer a zero based budget.  Start with the amount of money you expect to make for the pay period.  Then, using your budget, find a spot for every single one of those dollars.  Keep budgeting until you have “spent” on paper every dollar of your paycheck.

This WILL take some adjustments and some TIME.  Focus more on giving every dollar a place in your budget, and less about how it compares to other budgets.  Again, I recommend Dave Ramseys, Total Money Makeover book.  He gives good advice about how much your percentage you should be spending in each category.

Coming Soon:  I am currently working on an article to share my personal percentages in each category.  Hopefully this can help you get an idea of where to start.

What can you do when you cut back, budget and still don’t have enough?

I loved this question; because it is such relatable and real situation for many of us.

My first piece of advice is to keep your head up!  You are NOT alone!  There are so many dealing with similar struggles.  I strongly believe that together, we CAN help each other reach our financial goals.  Reach out to facebook groups and instagram accounts that discuss this issue.  Surrounding yourself with others in this situation should give you the strength, support and ideas to help get you through it.

I love Dave Ramseys quote to be “gazelle intense.”  When you have done EVERYTHING you can think of and the money is just still NOT adding up, that means it’s time to take more extreme actions.  Here are a few ideas to take when you need to be “gazelle intense.”

  1.  Sell items in your home (see 10 Items In Your House You Can Sell Quickly To Make Money  and 5 Places Online To Sell Your Clutter and Earn Cash).
  2. Start a side hustle.  Is their a side job you could take on to earn some extra money?  Google side hustles ideas and you should be able to find a good variety of ideas.
  3. Look through that budget one more time, what else could you sacrifice?  Could you cancel your tv subscription, quit eating out, lower your phone data plan, cut out all entertainment, etc.  None of these things are FUN, but they might be necessary in this situation.  Here is an article where I share What we cut from our budget to save over $2500 a year.
  4. Could you ask for a raise?  Would it be beneficial to make a job change?
  5. What could you downgrade?  Perhaps trade in your car for a cheaper model or move into a more affordable home?

I understand it is NOT easy when the money just ISN’T there.  ESPECIALLY when you feel as if you have sacrificed again, and again and again.  I get it.  I have been there!  Keep your head up.  Keep trying.  Be “gazelle intense.”  I believe in you!

FAQ from Budget Beginners (2)

I hope these questions and answers helped you in some way as you begin the exciting, yet sometimes difficult world of budgeting.  It’s never easy to develop new habits and start fresh.  Most things in life that are hard, and the ones worth doing.  I can guarantee keeping track of your finances are one of those things.

 

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5 Easy Ways We Cut Costs While Eating Out

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My husband and I do not eat out very often.  We both learned years ago that we are able to save such a huge amount of money simply by eating at home.  We still enjoy eating out occasionally, we just try to do so frugally.

It is possible to enjoy eating out at restaurants from time to time, even while being on a tight budget.  The most important thing is to include the expense in your monthly budget and try to cut out a few common restaurant costs.

Here are the 5 ways we try to cut the costs when we eat out:

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1.  Eat Out For Lunch

Go out to eat for lunch instead of dinner. A lot of places will have cheaper lunch options to choose from. You will also be much more likely to order a cheaper meal, such as a sandwich or salad if it’s during lunch time.

2.  Skip all the Extras

Order water instead of ordering a drink. I will usually request a lemon in my water so I feel like I’m getting something slightly fancy. 😉  Always skip the appetizer and desserts as well.  They are both very overpriced.  Try to order a big meal to fill up on instead.

3.  Shop the Deals

Become familiar with your local restaurant deals. A lot of restaurants will have kids eat free nights. Our favorite Italian restaurant offers buy one entree get one free during a certain day of the week. Find out the deals in your neighborhood and plan your outings around those days.

4.  Split the Meal

Only eat half of your entree and take the rest home for another meal. This way you get two meals for one price.  Or, you could split the entree with a spouse or friend.  Most restaurants will be more than happy to serve you one meal with two plates.

5.  ⠀Turn an Appetizer into a Meal

Consider ordering an appetizer instead of an entree.  Appetizers are usually much cheaper than entrees and still provide a large amount of food.  Look for a restaurant with a trio appetizer for a well rounded meal.

It is possible to still enjoy eating out at restaurants while on a tight budget.  It takes a little self control and some planning, but it is still possible.

What are some of your fave tips for eating at a restaurant while on a budget???? Share below in the comments, I always need fresh ideas!⠀

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What I Learned From the July Pantry Challenge

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I just finished my month long pantry challenge!!  If you’re not aware of the term, a pantry challenge is meant to encourage you to use up items you already have in your home, (pantry, fridge, freezer, shelves, etc.), instead of spending money at the store on groceries.

My goal was to save a little extra money during the month by spending less on groceries.  To do this I decided to cut my regular grocery budget of $400 a month in half.  This would mean I could only spend $200 for our family of five.  This was no easy task and I was incredibly intimidated from the beginning, but I was determined to make it work.

The pantry challenge is now officially over (thank goodness) and I am proud of how the challenge went.  I would LOVE to say that I was able to only spend $200 on groceries….but I didn’t quite accomplish that.  I went over budget by $1.98.  I spent $201.98 on groceries for our family of five….and you know what I am so PROUD of MYSELF!!!

I wanted to share all about how I was able to make it work and what I learned during the process.

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Make a Plan

The ONLY way I could be successful with this pantry challenge was to plan ahead. I’ve always been a meal planner, but I learned quickly I needed to be much more detailed about planning every snack and meal.

At the beginning of each week I looked through my pantry, made an inventory of all our food.  I wrote down the meals and snacks we could make with what we ALREADY had in the house.

I was able to eat out of the pantry exclusively about 50% of the time.  The other 50% of the meals I tried to only plan really frugal meals with only a few cheap ingredients I would need to buy.  This meal planner that I use is available as a Free Printable in my Free Frugal Living Challenge.

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Successful Meal Plans

I listed out a few of the meals and snacks I found to be the most helpful in keeping the grocery costs low.  A few of these recipes (starred) are also available for free in my Frugal Living Challenge.

Breakfasts

*Fluffy Eggs

Pancakes

Eggs and Toast

Oatmeal

*Breakfast Potato Casserole

*Slow Cooker Oatmeal

Lunch

Muffin Tin Lunch

Sandwiches

Salad from Garden

Leftovers

Dinner

*Freezer Burritos

Layered Zuchinni

Spaghetti

*Taco Soup

*Balsamic Chicken

Pasta Bake

*Taco Tortilla Soup

Grilled Chicken

*Korean Beef

*Baked Island Chicken

Snacks

Pretzels

Homemade Cookies

Energy Bites

Popcorn

Canned Fruit

Bananas

Homemade Pudding

Homemade Bread

Grocery Shopping

I am a little obsessed with grocery shopping using Walmart Grocery Pickup (hello, shopping in my PJs and groceries loaded in the car FOR ME!  Sign me up!).

With my $200 monthly grocery budget, I was only allowed $50 a week.  One of my favorite things about Walmart Grocery Pickup is the ability to watch my cart total while I’m shopping.  (I know I COULD use a calculator at the store, but I’m just not great at it….) Being able to see how much I’m spending WHILE I’m shopping was crucial for me during this challenge.

If my cart ever went over the $50 amount I knew I needed to go back through the cart and delete a few items.  This was MUCH harder to do than I had anticipated!  My family all had to sacrifice a few items we were use to having regularly in order to make the month work.

Getting the Family Involved

I would LOVE to tell you that my family was totally on board and excited about my little July Pantry Challenge Experiment……but, they didn’t really love the idea.  When they saw the amount of food I was bringing home with each grocery trip they started complaining about the lack of food.

I tried to get my kids excited about the goal and had them help me make a lot of our homemade snacks.  They liked being able to help and were somewhat excited at the thought of having a challenge.

Unfortunately, this only lasted a couple of weeks.  As the month went on they began to get a really tired of the challenge.  The biggest problem was the snacks.  They are use to having snacks in the pantry, and we just couldn’t have those this month.  I decided to make a list of snacks we did have available and I hung it on the fridge.  This helped them a lot!  I think they had gotten so use to those convenience snacks (not awesome parenting, I know) that they had forgotten about all the other great options we had.

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Even though my family didn’t necessarily ENJOY the pantry challenge, I am really glad they were able to go through it with me.  It was such a good life lesson for my kids to learn about stretching dollars and how much food really costs.

What I learned

My biggest takeaway from the July Pantry Challenge is that I CAN live on less than I usually do. Yes, it took A LOT more effort, (preparing a lot more food from scratch and a lot of time planning), but I CAN do it!  We survived.

Moving forward I have a new sense of motivation to stay in budget, shop my pantry, and really spend with a purpose.  I’ve always told myself the lie that I HAVE to spend money on this food because we NEED it……but, we don’t!  We were just fine having less food around.  I am excited to take this new knowledge and adjust my grocery shopping from here on out.

What’s Next

My pantry challenge is over!  Does this mean I get to spend a lot of money next month restocking my shelves?????  Absolutely NOT!

I will be going back to my regular grocery budget of $400 a month.  I will slowly try to restock my pantry, but I will always stay within that $400 budget.

I honestly was terrified for this challenge!  I really didn’t know if I would be able to meet my goal, $400 a month is usually a little bit of a challenge.  But I did it, and I’m so glad I was willing to try!  If you are wanting to find a way to save a little extra cash, try having your own personal Pantry Challenge.  Be sure to come back and let me know if you did it and how it went!!

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10 Items In Your House You Can Sell Quickly To Make Money

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Did you see my post 5 Places Online To Sell Your Clutter and Earn Cash?  I am a HUGE fan of selling ALLLL of my house hold clutter (because let’s be honest, there’s a lot of clutter) and making some quick and easy money.  I make the goal to sell a few items every month.  It’s not a huge money maker for me, but it gives me a little extra spending money!

I’ve had a few people comment to me that they just have “nothing to sell.”  I truly believe EVERYONE can find SOMETHING (probably even a few things) to sell.  The more desperate you are to earn some money the more likely you’ll find something.

Today I am sharing a few household items that will usually sell quickly.  I am hoping these ideas will inspire a few people and help you brainstorm what YOU have in YOUR house to sell.

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10 Household Items You Can Sell Easily

1.  Children’s Clothes

Children’s clothes are ALWAYS a hot item to sell online.  Clothes will need to be in good condition (no stains or rips) in order to have a good chance of selling.  Brand names (think Gymboree, Gap, etc.) will sell best.

2.  Furniture

Used furniture is a GREAT sell.  There is always someone wanting to buy.  The great thing about selling furniture is that it doesn’t matter if the furniture is older or newer, you will most likely be able to sell it.  There is a different market for all types of furniture.  The older items will usually be bought by someone looking for a DIY project and the newer by someone looking for a good deal.

3.  Electronics

Do you have an old phone or ipad laying around?  Or maybe a computer that doesn’t work anymore?  Electronics is a popular item to buy/sell used.  Phones are so expensive to buy new which makes for a lot of people jumping on the opportunity to buy a cheaper used phone.  Try selling your non working electronics as well!  There are a lot of people out there who will buy something that doesn’t work so they can use the parts out of it.

4.  Baby Items

Baby items are some of my FAVORITE things to sell.  High chairs, strollers, bumbo seats, cribs, bouncers, etc.  These are all hot items to buy used.  Use a magic eraser and washcloth to clean them up for an easier sell.

5.  Kids Toys

If your kids are anything like mine, you probably have toys laying around that never get used.  Clean those toys up and sell them!  Popular items include plastic play toys (such as play kitchens and slides), barbies, hot wheels tracks, etc.

6.  Tools

Do you have a garage full of tools like I do?  Look through all those tools (or ask your husband to do this) and find a few that haven’t been used in months (or maybe years???).  We have been able to sell MOST of the tools we have tried, but not all.

7.  Decorations

Search your house and try to find a few household decorations you could part with.  Maybe your style has changed or you just want to scale back a little bit on the decor.  Either way, there is always someone looking to update their home and will love getting a good deal on used decor!

8.  Clothing

Look through your closet (or your husbands closet) and find a few items that haven’t been worn for weeks.  Sell them!  If you’re not wearing something regularly, there’s no reason to save it in your closet.  I’ve sold shirts, pants, shoes, etc. If the price is right, it will most likely sell.  Be sure to get out all stains before trying to sell any clothing.

9.  Holiday Decorations

I have WAY to many boxes of holiday decorations.  I have found that all I really need are a few favorite pieces and the rest of the holiday decorations are just not necessary.  List these items for sale about 3-5 weeks before the actual holiday.  This will increase your chances of being able to make a sale.

10.  Outdoor/Yard Items

Do you have a swing set that rarely gets used? Maybe a hose that just seems to sit around.  I have always been successful in selling outdoor items.  Things like bikes, slides, lawn mowers, sports equipment, etc. all sell really well.  Look through all of your yard/outdoor items and if you find anything that seems to take up more space than necessary, sell it!  Try doing this during the late spring months when everyone is anxious to get outside.

 

What did I miss?  What are some of the items you sell that are always bought quickly? Share below in the comments so we have even more ideas!

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5 Places Online To Sell Your Clutter and Earn Cash

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I am a member of online affiliate programs.  I may receive compensation for purchases made through links on this post.

I try to sell a few things online every month.  I don’t make a lot of money doing this, but I do make a little bit, and I am a firm believer that EVERY little cent matters.  I’m sure if I spent more time doing it I could easily make even more money.

I’m convinced EVERYONE can find at least a few items to sell.  Clean out your closets, look under the bed, search through your garage.  Try to find something that hasn’t been used in years (or even months?).  There is no use in hoarding something if it’s not getting much use.

I love clearing and the clutter AND getting to make a little extra cash on the side.  Being able to do it ALL online makes it EVEN better (hello, not leaving your house and getting to stay in PJs!)!!!

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Here are a few of my favorite places to sell online:

Sell on Facebook Marketplace

Facebook Marketplace is my very VERY favorite place to sell.  If I price my items right, they will sell immediately!  I love to post large items on Facebook Marketplace; such as furniture, baby items, lawn care, etc.  I have the most success with these.

Sell on ThredUP

Thredup is where I sell a lot of my clothes and my kids clothes.  All you do is request a free bag to be sent to you, fill it full of clothes, and send it back.  Thredup will do all the sorting, picture taking, selling and shipping your items for you.  I really like selling with them because it requires VERY little effort on my part.  I have found that they are a little picky about what they accept (which is really nice as a buyer).  But, if you have clothes in good condition that you want to get rid of anyway, send them to thredup!  You can sign up through this link for a free $10 credit to shop.  It’s a great way to get a feel of the website before you start selling.

Sell on Poshmark

Poshmark is very similar to thredup.  It’s a great place to sell and buy used clothing.  I have found they aren’t quite as picky as thredup, making it easier to sell through them.  I am still a little new to poshmark and learning the tricks, but so far I have been very pleased.  Poshmark will give you a $5 shopping credit if you use my code sweetfrugallife when you sign up.

Sell on Ebay

I have had quite a bit of success selling on ebay.  I don’t sell with them as much as I use to (thredup and poshmark are just MUCH less work), but they are a great resource.  I’ve sold clothes and little trinkets and electronics stuff on ebay.  Sometimes it takes a little adjusting with the price to find the right fit, but more often than not I have been able to make a sell.  If you want to have a little more control over how your items are sold and for what price, ebay is a really good option for you.

Sell on Amazon

I have never personally tried selling anything on Amazon , but I do know others who have.  The fees are a little more than ebay’s fees, but EVERYONE shops amazon now, so I’m betting it is a really great market.  You will need to set up a free business account to start selling, but it is fairly straightforward from there.

Remember NOT to give up if an item doesn’t sell immediately.  Usually that means you will need to make some changes; such as adjust the price, take different pictures or try a new selling website. Try a few different changes BEFORE giving up.  Different websites tap into different markets.  Be patient with it.  Selling items online is a learning process.  The more you do it however, the easier it becomes.

Where have you had success selling household items?  Share in the comments your favorite place to sell!

Finances · Frugal Life · Money Educatioin · Money Helps

Overspending Triggers and Solutions

sweetfrugallife5 Comments

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Lately I’ve been thinking a lot about my spending habits.

I sometimes have these really awesome moments when I am keeping to my budget, spending wisely, and stashing lots of money away into savings…….

But then, I have my moments where I S.T.R.U.G.G.L.E.  I shop impulsively.  I buy things without consulting the budget.  I develop a “I need it so I get to have it” mindset.

Does ANYONE else have this happen????

I ALWAYS know this behavior is wrong.  I ALWAYS know that I shouldn’t be buying “x,y, and z.”  Yet, I ignore that small voice of reason and just keep on spending.

I have learned that these overspending urges are usually the result of a trigger.  SOMETHING going on in my life (usually emotionally for me 😉 ) that causes us to want to overspend.

 

The other day I got an urge to SPEND.  Like, really really spend.  I wanted to buy decorations for my home and I wanted to buy myself a few new shirts and I wanted to go out to eat and I wanted to take my daughters on a back to school shopping spree and I just.wanted.to. SPEND MONEY!

I was fortunately able to stop myself in this moment and asked myself, “What brought on this urge to spend?”

I thought a lot about my emotions in that moment and I realized that I was feeling frustrated.  I was frustrated by my budget.  I was frustrated that I was so limited with the amount of money I am “allowed” to spend each month.  I just wanted to throw the budget in the garbage and show that budget that I can spend what I want when I want!

Once I realized what I was feeling, I knew that I needed to change something in the budget.  As a parent, I always ALWAYS choose to have money budgeted for the kids wants/needs instead of budgeting for my wants/needs.  Which I am so HAPPY to do for them, but I was limiting myself so much that I became frustrated which resulted in me wanting to overspend!

So, I decided to change my budget.  Next month I will be budgeting more money for my personal spending money.  I am hoping that by doing this it will eliminate that trigger and help decrease those spending urges.

Everyones will have different  triggers and you won’t experience the same trigger every time.  I tried to brainstorm below a few possible overspending triggers and a suggested solution.

Overspending Triggers and Solutions

Trigger:  Overspending because you are bored and shopping is a form of entertainment.

Solution:  Develop a new (cheap) hobby.  Ask a friend to join you in the hobby to help keep you accountable and active with it.

Trigger:  You lack confidence and are trying to boost your self esteem with new purchases.

Solution:  Read some self help books (from the library) about confidence.  Learn to develop inner confidence without needing to spend money.

Trigger:  You are upset or emotional and use shopping as therapy.

Solution:  Find a new way to release your emotions.  Go for a run or walk.  Call up a friend or watch a favorite movie.  Find a non-spend alternative to help you calm down.

Trigger:  Feeling jealous when you hear how friends have been spending their money.

Solution:  If your friends are a temptation to spend money you need to distance yourself from them.  I have unfollowed friends on social media before because their posts trigger my urge to spend money.  If you need to make some new frugal friends, do it!  Just do whatever it takes to delete that temptation.

 

Trigger:  A friend invites you to do something that will encourage you to overspend, maybe a day of shopping or a weekend trip.

Solution:  Be up front with your friends.  Tell them your spending limits and the activities that you will be able to or won’t be able to participate in.  Kindly ask them to stop inviting you to the activities out of your budget.

What are your personal spending triggers?  What are the solutions YOU have come up with to help overcome those triggers?  Share with me in the comments so we can help each other out.

 

Finances · for free · Frugal Life · Frugal Living Challenge · Good Ideas · Money Educatioin · Money Helps

Show Me the Money: 5 Ways to Earn CASHBACK on Purchases

sweetfrugallife3 Comments

I am a member of online affiliate programs.  I will receive compensation from clicks on my links.  All opinions are my own.  I guarantee to never share anything I haven’t already been using for years.

Who likes free money???  I LOVE free money!  And I’m betting you like free money too!

This post is all about how to earn cashback, just by shopping like you regularly shop!!

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Cashback with Discover Card

My FAVORITE way to earn cashback is by shopping with my Discover Card.  I talked in detail about why I love my Discover Card in my post The one idea I disagree with Dave Ramsey on.  In short, when I shop with my Discover Card I automatically earn cashback on all purchases.  They give you 1% cashback on EVERYTHING and 5% on different categories that are rotated monthly.  (Currently, I am receiving 5% on groceries).  You don’t have to do anything, just use your card and your cashback will grow.  I earn around $500 cashback with Discover a YEAR, and all I do is shop like normal!

Cashback with Ibotta

I love shopping with ibotta.  This is the very first app I check after completing my grocery shopping.  All you have to do is shop, check the app for rebates, scan your receipt, and the money is instantly put in your ibotta account.  Easy.  Peasy.  They have a wide selection of rebates, common items are milk, apples, pantry items, broccoli, beauty and household.  I can almost always find at LEAST one or two items to receive a rebate for.     If you don’t currently have an ibotta account you can get a FREE $10 just for signing up for one through my link.  (FREE money people!)  Once you have $20 in your account you can redeem your money as cash or a gift card.  I have earned over $100 by using ibotta!

Cashback with Checkout 51

Checkout 51 is very similar to ibotta.  It works as a rebate program.  You shop, scan your receipt and qualified purchases and you will get the rebated money instantly in your account.  Once you reach $20 in your account you can request your money, same as ibotta.  It only takes a few minutes to check for rebates and one minute to scan your receipt.  I have made over $50 cashback using Checkout 51!

Cashback with Ebates

It is so easy to earn cashback with Ebates.  If you like to shop online, you need to shop through the Ebates app.  If you shop through the ebates link you will earn cashback for every purchase.  They have a large variety of stores available to earn money with.  Everything from Kohls, Ebay, Zulily, Justice, Aerie, Lowes, Gap, Ulta, and so so many more.  Before I make ANY online purchase, I always check Ebates first to see if they offer cashback for that store.  All you do is click on the store link in the app, you will be taken to the store website, you do your shopping, and instantly earn money back.  SO SO easy!

Cashback With Fetch Rewards

Fetch Rewards doesn’t technically earn you cashback, but it does give you points that you are able to redeem for gift cards.  The gift card options are endless!  A few of my fave examples are Target, Amazon, Sephora, Best Buy, and a bunch of fun restaurants.  I love Fetch Rewards because you can start redeeming your gift cards at only $3, and it is easy to earn that first $3.  It is also very user friendly and easy to use.  Sign up using my referral code:  WC1TU and you will receive an automatic 2,000 points (equivalent of $2).

 

If you are going to be shopping ANYWAYS, you might as well be earning a little cashback along the way, right???  RIGHT!

A quick word of caution however.  It can become easy to want to buy a product JUST because you see you can get a rebate for it through ibotta or Checkout 51.  Be careful to NOT to fall into this temptation.

I have found the best way for me is to do my shopping FIRST and then check the rebate apps to see if I bought anything eligible for a rebate.  (Except for with Ebates, you must check Ebates FIRST!)  This has helped me immensely to not buy things I really didn’t need in the first place.

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What cashback secret did I miss???  How do you like to earn cashback?  Share your successes in the comments!  I would love to hear all about them.

 

 

Finances · Frugal Life · Money Helps

10 Tips to Stop Impulse Shopping

sweetfrugallife2 Comments

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Let’s talk impulse shopping.

I have always struggled with impulse shopping and am constantly trying to work on this.

Do I budget? YEP!  Do I love to save money and watch my bank account grow!  ABSOLUTELY!  Yet, I have always struggled with buying things on impulse.

So, here are a few of my 10 top tips that has personally helped me stop the urge to impulse shop.

10 Tips to Stop Impulse Shopping

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1.  Admit you Have a Problem

The first step to curing impulse shopping is to admit you have a problem.  I have gone through so many times of rationalizing my impulse spending.  I would use phrases like, “Oh, but it was on sale, so it was a smart buy,” or “It was something that we really needed anyway, so it wasn’t really an impulse buy.”

These phrases are only excuses.  We use excuses to make ourselves feel better when we do something that we know was probably not the best decision.

Once I admitted to myself that I had a problem with impulse spending and I quit using excuses, I was finally able to begin to change.  I still mess up sometimes…..but I am much better than I was a few years ago.

If I impulse shop.  I tell myself I impulsed shopped and it was a mistake.  I no longer make up excuses and it has kept me accountable and aware of my goals.

2.  Recognize your Triggers

Once you’ve admitted that you have a problem, it’s time to pin point the triggers.

Is their a certain store that you leave buying more than you should have.  (Target is my biggest trigger when it comes to impulse shopping.)

Does the impulse to spend come after a highly emotional day?

Find whatever YOUR personal trigger is, this will be different for everyone.

3.  Find Alternatives

The third step to curing impulse shopping is to find alternative activities to keep you away from your triggers.

The past 2 years I have tried to just stay away from Target.  No matter what I do, I can’t seem to leave the store without impulse spending.

I’ve started shopping at other stores more and avoiding going to Target at all costs.  I still go occasionally, but every time I do I regret it.

If you have a store that is your trigger, find an alternative store.  If you shop when you are sad, upset, bored, etc. find a different activity to help get you through those emotions.  If you follow a really cute blogger on Instagram who posts links to her darling clothes and you always seem to swipe up…..unfollow her!

Do whatever it takes to find something to keep you away from your personal triggers.

4.  Leave the Cards at Home

When I shop with cash and leave all cards (debit and credit) at home.  I am much much more diligent to sticking to my list and budget.  I am always worried about being “one of those customers” who show up to the register without enough money to pay for my items.

When I know I only have a set amount of money in my wallet I watch my cart closer and it is much easier to walk past the items that catch my eye.

If you are new to spending with cash you can read more about my Cash Envelope System Here.

5.  Make a List

Making a list is so important.  If you aren’t already making regular shopping lists, you might be surprised by how much less you spend when you shop with that list in hand.

Before you go anywhere make a list of the things that you NEED.  Even if you are only going shopping for one thing, write it down.

Shop with that list in your hand and commit to only buying the things you have written down.  Even if you see something on sale.  Even if you walk past the cutest shirt you have ever seen.  If it’s not on your list than do not buy it.

6.  48 Hour Rule

I discuss my 48 hour rule in detail in my Free 14 Day Frugal Living Challenge.  The quick version is you wait 48 hours before making any purchase above a certain dollar amount.

The dollar amount is personal to you and your situation.  Everyone will have a different number that works for them.

When we wait to make a purchase we are giving ourselves time to separate emotions from logic, or want vs. need.

7.  Splurge Money

Be sure to include “splurge money” in your budget.  Splurge money is for you to spend however you WANT!

Your splurge money will give you a little taste of freedom.  If you don’t allow yourself a small amount of freedom, you are much more likely to over spend.

There is no right or wrong amount to budget for splurge money.  If you have a very tight budget, your splurge money might be small.  If your budget has some wiggle room perhaps you could budget yourself a little more.

8.  Shopping Cart

A few of you might roll your eyes at this suggestion.  And that’s ok!  It might not work for you, but this is something I have been doing more and more lately and it has really been helping me.

Occasionally, if I am out shopping and see an item that I really really want…..but it’s not on my list, I will just grab it anyways and put it in my cart.  I allow myself to walk around with it in my shopping cart while I do the rest of my shopping.

When it comes time to check out I look at the items I added on impulse and evaluate.  Should I really buy this?  Do I have money in my budget for this item?  Is it something I need?  Could I wait and budget for it later and come back and buy it?

I will usually be able to talk myself out of buying it and go put the items back where I found them.

9.  Use a Spending Buddy

Find a friend who has similar financial goals as you.  Use each other as someone to talk to when you are getting the urge to impulse shop.

A few years ago I had a good friend who agreed to be my spending buddy.  Whenever I would find that one item I thought that I just HAD to have, I would call my friend.  I explained to her what I wanted and she would ask me those important questions about if I really needed it, could I find something cheaper, etc.  I would often do the same for her in return.

My spending buddy was so great at helping me spend less.  And because I KNEW I would need to call her before I bought anything….it made me second guess my impulses, I only wanted to call her for important things!

10.  Forgive Yourself

This is one of my very most important tips!

Whenever you’re trying to change habits you will make mistakes.  It happens to everyone!

Forgive yourself when you mess up.  Learn from your mistake.  Make a plan to do better next time and then MOVE ON.

If I am to hard on myself I just end up throwing my hands in the air and giving up.  I’ve had those moments when I messed up on my budget and instantly felt like a failure.  I would convince myself I’ve already ruined my budget I might as well just keep on spending!  This was a giant mistake!

Once I started forgiving myself my budget benefited!  I am able to start fresh the next day and move forward with my goals.

 

How do you stop yourself from impulse shopping?  Share YOUR top tips in the comments below!