Posts tagged ‘money’

Saving Money is My Main Money Focus in 2010

21 January, 2010 | dcfemella | Comments

The Piggy Bank

When I was in my twenties, I had the worst credit, and I didn’t know how to save money. I would spend and spend on anything that I wanted, and live paycheck-to-paycheck. It wasn’t until 2007 when I started getting serious about getting rid of my debt and start saving for short-term and long-term goals. I picked up a bunch of personal finance books and started reading away.

By 2008, I had paid of all of my debt, minus my student loan, and saved money to buy a place of my own. I did. I felt empowered and free. Living paycheck-to-paycheck, having tons of credit-card debt, and not having anything in savings is huge stress. Therefore, I was glad to have eliminated it.

I started following Dave Ramsey’s plan to financial freedom and it helped. Now I plan on following it again because I have some new short-term and long-term goals that I want to become a reality:

Short-Term Goals

  • Go on three international trips
  • Save $1,000 a month
  • Increase my retirement contribution
  • Make more money

Long-Term Goals

  • Buy a bigger place in 2011
  • Pay off student loan
  • Have 3-6 months in emergency funds

Goals are the best way to ensure that you maintain on track. I love eating out, so I know that is something that I need to keep in check if I want to be able to succeed in making these goals a reality. Here is a great video from Dave Ramsey on how to set goals, especially when it comes to finances:


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Frugality Challenge: Getting Rid of Subscriptions

7 January, 2010 | dcfemella | Comments

Embroidered Saver Miser Quote Card

After spending entirely way too much during the holidays, having to buy a new dishwasher, and replacing my Jeep’s drive belt, I have decided that it’s time to be super thrifty. I started thinking about all the things that I could get rid of and have already come up with a few suggestions that will save me $175.00.

  1. Cable/Tivo – I don’t watch TV as much as I used to, and I usually watch my Netflix movies if I am plopped in front of it. I really don’t need cable. It’s time that I cancel it. I usually can’t find a damn thing to watch, so there really isn’t a point of it. The only thing I wonder is that I have Internet through my cable, provider, so I have to see what I have to do to separate the two.
  2. Gym – I am currently working in two buildings, and they both have a free gym. My neighborhood’s gym is amazing, and it’s free as well. Also, I am usually doing something outdoors, so I haven’t been to my gym for over three months. It’s time to save those $40/month.
  3. Rhapsody – I love, LOVE Rhapsody. I access it using my Tivo, and I usually listen to it while I work or are cleaning. However, I do have ITunes, and my desktop has a booming system. There really is no need for it.
  4. Audible – Another service I love. However, I just found out from a coworker that many of the books I listen to can be found at the library for free. It’s time to let it go.

One thing that I always want to get better at is using coupons. My mother is the “Coupon Queen.” She usually saves tons of money using her coupons, and it’s time that I adopt that behavior. All this money can be spent to traveling, eating out, emergency fund, and doing fun things with family and friends. Therefore, it’s time that I say goodbye to it.

Anyone have money-saving tips? Where can I find grocery coupons? Where to find store coupons?

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Stressed Over Christmas Gift Giving

1 December, 2009 | dcfemella | Comments

Stressed Over Gift Giving?

I decided that the kids (and the adults) in my family have way too many things. They all seem to have iPods, gaming systems, TVs, and anything imaginable. My kids are definitely in the mix (excluding the iPods). Back in the day, I could manage to buy everyone Christmas presents. It was just my immediate family (i.e. parents and sisters) and one aunt. We have now grown to:

  1. Kids
  2. Parents
  3. Sisters
  4. Two nephews
  5. Niece
  6. Three cousins
  7. Two aunts

One of my nephews and niece are my godchildren, so imagine how much I have to spend. Last year, I finally put my foot down and said that I was going to buy for the kids, but the adults had to do a Secret Santa. It helped to alleviate some of the financial burden that Christmas brings.

This year I tried doing the same, except adding the kids in the mix. I proposed that instead of all the adults individually buying the kids presents, we pitch our money to buy them one, big gift that they will use more than once. My older sister agreed, and we made plans on how to carry out the plan. However, there was one person who was dead set against it: my mom. Without her being part of the plans, it fell apart.

Her excuse is that this is her last Christmas before she goes to Panama, so she wants to go all out. My question to her was, “So does that mean that we all have to resort to doing the same?”

I decided that for my children, I am going to get them one, big gift (Playstation 3 Bundle I got on Black Friday), a book each, clothes (my kids love clothes), and one toy. For the rest of the family, I decided to take advantage of Cyber Mondays and got great deals on their stuff.

I am mad at myself cause I didn’t stick to my guns. I should have said no, but it seemed like there was no point cause my sister caved as well. These kids are now going to get a bunch of stuff on Christmas that they are not going to appreciate. They will use it once and then leave it lying around. I am the one that has to drag all that unwanted stuff to charity.

Definitely for next year, I have to come up with a better approach.  I remember being happy with two or three presents.  Months later, you will still see me using my Christmas presents.  I need to start teaching my children that Christmas is for being with your loved ones, and not what presents you get.

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How Much Should the Tooth Fairy Give a Child?

22 September, 2009 | dcfemella | Comments

My son lost his 8th tooth, and my daughter is going to soon lose her 3rd.  I decided during the summer that I was spoiling the kids.  I was going overboard on what I was giving and doing for them because I was trying to give them everything that I didn’t get.  When I was losing my teeth, I was getting 25 cents.  The first tooth the kids lost, I gave them $10, and then I was giving them $5 for each tooth.

I usually have them put it in their piggy bank to save the money.  After they have saved a certain amount, I have them take some out and save the rest.  I am trying to teach them how to manage their money, so they are not one of the college kids you hear about during studies on how America is surrounded by debt.

However, I think that is way too much.  Is $2 enough? Or is it still too much?

How much do you give your kids when they lose a tooth?

Photo Details: Girl’s Tooth Fairy Pillow, originally uploaded by pkoriginals.


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Money Doesn’t Define Me

22 May, 2009 | dcfemella | Comments

Free Fun Happy Colorful Birthday Party Balloons Creative Commons

Originally uploaded by Pink Sherbet Photography

I had an epiphany while I was driving back home after getting the kids. In front of me were two guys in a beatup car with a smashed windshield, and they were laughing and having a good time. It made me remember when I was in college and living off of $100 a month. I had an awesome time! Broke and fabulous was how my friend Shauna and I would describe ourselves and there was not a day that passed by that we didn’t have a smile on our faces.

I realized that I have put too much emphasis on money and material possessions. I’m so busy trying to eat at fine restaurants, travel to different locations, and buy expensive things that I am missing the point. Even though I smile, I don’t smile the same way I use to when I was broke and appreciated life without money.

Money isn’t everything. Keeping up with the Joneses is not going to do anything for me except cause unnecessary stress. There are tons of activities that are free that will keep the children entertained. I need to realize that I will find a way to be ok because I have my children, freedom, and are still alive. The saying that things happen for a reason is true.

I remember what Celie says in The Color Purple and thinking how liberated she sounded:

“I´m Poor… Black, I may even be ugly, But dear God , Im Here, Im here¡¡¡¡¡¡¡”

Or what Alanis says in Hand in My Pocket:

I’m broke, but I’m happy. I’m poor but I”m kind

I finally know that I need to shape up and refocus before I lose myself.


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