Being Frugal.net

YNAB 3

Lynnae — Mon, 16 Nov 2009 11:00:36 +0000

In a few hours my YNAB giveaway will be over. I promised to let you know about changes that will be made when YNAB 3 comes out (probably by the end of the year). I’m so excited about this!

Mac Compatible

As I mentioned in my last post, YNAB 3 will be Mac compatible! I think this is great news, as someday I’d like to switch to a Mac, and I love YNAB too much to give it up!

Reports

YNAB Pro includes three reports: Spending by Category, Total Spending (month-by-month), and Current Balances (for each of your budget categories).

YNAB 3 promises to provide even more reports, that are customizable. And if you don’t see the reports you want, you can export the numbers to create your own reports.

Customizable Fields

In YNAB Pro, the register is the register. You can’t change it. But YNAB 3 will include a customizable register, so you can only show the fields you use.

Much More

An undo option, an improved scheduler, a better error-catcher, and better use of monitor real estate are other changes in YNAB 3. All in all, it sounds like YNAB 3 will keep the aspects that make budgeting so easy and add a more user-friendly interface to make using the software even easier! I can’t wait to try it out for myself!

And if you’d like to get a head start, remember that if you purchase YNAB Pro between now and the time YNAB 3 is released, you will receive a free upgrade to YNAB 3! YNAB Pro is $10 less than what YNAB 3 will sell for, so if you’re interested in YNAB 3, it’s less expensive to buy YNAB Pro now and upgrade to YNAB 3, when it’s available. And the coupon “beingfrugal” (without the quotes) is good for 10% off until the end of the month!

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You Tell Me: Overdraft Opt-In Rule

Lynnae — Fri, 13 Nov 2009 11:00:26 +0000

Yesterday the Federal Reserve enacted a rule, which would make it mandatory that banks allow customers opt-in to overdraft protection, rather than automatically enroll customers, as is the current practice. In other words, consumers would have a choice as to whether they get overdraft protection, rather than the banks choosing to enroll them without permission. In retrospect, I didn’t make the new rule clear originally. (Italiacs are an edit from the original version of the post).

This rule will go into effect July 1, 2010. As it stands right now (or at least a couple of months ago when I researched overdraft fees), most banks automatically enroll customers into overdraft protection.

When you’re enrolled in overdraft protection, if you make a debit card transaction and don’t have money in the bank, the transaction goes through, and you pay a fee..usually $30-$40.

If you don’t have overdraft protection, if you make a debit card transaction and don’t have enough money, the transaction is denied at the register. In essence, you can’t spend money that you don’t have.

The overdraft cycle, once started, can quickly sink someone who lives close to the edge financially. Especially in these economic times, there are lots of people living paycheck to paycheck. While I believe banks have the right to charge overdraft fees for covering overdrafts, I also believe consumers should have the option of paying for the “convenience” of having bad transactions covered or turning it down.

Don’t get me wrong. I think people should keep close track of their finances. If you don’t have the money, don’t spend it. Know how much money you have in the bank.

But the fact is that even the most careful people occasionally make mistakes. Occasionally companies make mistakes and wrongly debit accounts. Occasionally escrow refund checks bounce. I don’t think any of these reasons justify throwing a consumer into an unending cycle of overdraft after overdraft.

Understandably, the banks weren’t happy about these new regulations. Scott Talbot, chief lobbyist for the Financial Services Roundtable, said,

It radically changes and alters the overdraft services for consumers. The result will be confusion and embarrassment and frustration.

It’s true that a debit card transaction denied at the register might cause confusion, embarrassment, and frustration. However, I’d rather deal with the negative emotions and be alerted that my bank balance is lower than I thought, than pay a $40 fee and carry on, blissfully unaware.

What do you think? Is this new rule a good thing? Or is it too much regulation?

Photo by epicharmus.

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This Christmas Give Presence

Lynnae — Thu, 12 Nov 2009 11:00:53 +0000

No, that’s not a typo in the title. This Christmas, instead of giving presents, give presence. That’s the message the people behind the Advent Conspiracy want you to hear.

Click here to view the embedded video.

Let’s make this a Christmas where we all worship fully, spend less, give more, and love all. That’s my goal this year. Less stuff, more worship.

If you want to learn more about the Advent Conspiracy, please check out their website at adventconspiracy.org.

RSS & email readers may have to click through to the site to view the video.

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Thank a Veteran Today

Lynnae — Wed, 11 Nov 2009 14:49:52 +0000

I’m taking the day off to celebrate Veteran’s Day. The plan was to go to a local veteran’s memorial, but the boy has a cold, so I’m not sure that’s going to work out.

I’d just like to take a moment to recognize and thank those who have served and are serving in the armed forces. Because you were and are willing to put your lives on the line, we enjoy our freedom. Thank you for making the sacrifices you do for the benefit of our country.

God Bless You.

Photo by The U.S. Army.

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Tightwad Tuesday: Frugal Grain Grinder

Lynnae — Tue, 10 Nov 2009 11:00:31 +0000

In my quest to eat healthier, I’ve been wanting to try to grind my own grains. But I’ve found the cost of grain grinders to be somewhat prohibitive, especially since I don’t know if I’ll grind enough to make such a big purchase worth it.

While I was visiting my good friend, Julieanne, last week, she mentioned that she was looking into getting a Cuisinart coffee grinder for grinding grains. Like me, she didn’t want to spend the money on an expensive grain mill, if she wasn’t going to use it very much. She got the idea from the Sue Gregg website.

A few days after my visit with Julieanne, I headed to Costco for a basic shopping trip and came across this Cuisinart coffee grinder for $30! You can’t beat that price!

So now I have a grinder that will work for small amounts of grains. If I find I’m using it a lot, I may someday splurge on something that’s a bit more heavy-duty, but this is a good first step.

Do you grind your own grains? Is a grain mill worth the price?

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Photo by not a hipster.

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Budgeting is Easy with YNAB & a Giveaway!

Lynnae — Mon, 09 Nov 2009 11:00:53 +0000

Last week I mentioned that this time of year is when a lot of people let their budgets slip a bit. The easiest way to stay on track with your budget is to have an easy and effective way to keep track of your budget.

My favorite budgeting tool is YNAB Pro. I’ve been using it for a couple of years now, and when I’m consistent about using it, I can see a positive difference in my spending habits.

The Basis of YNAB

YNAB (or You Need a Budget) is based on four rules.

Live on Last Month’s Income
Give Every Dollar a Job
Prepare for Rain
Roll with the Punches

The software is really set up to help you through these four steps, so you step away from the financial edge of disaster and are prepared for anything that comes your way. Of course you have to do the hard work, but YNAB does a good job of guiding you.

Stop Living Paycheck to Paycheck

YNAB is set up to help you live on last month’s income, rather than living paycheck to paycheck. For a new user, who is currently living paycheck to paycheck, you enter all of your income as supplemental, rather than regular, income. Every month you put money toward your buffer, until one day you have a month’s worth of income as a buffer. It takes a while to get there, but it’s worth it.

Once you have a month’s worth of income as a buffer, you enter your monthly income as regular income. That income will show up as available to spend next month, not this month. So every month you have at least a month’s income in reserves.

Ideally, of course, you want to have three to six months worth of expenses as an emergency fund, but if you’re currently living paycheck to paycheck, having a month in reserve makes a huge difference.

Give Every Dollar a Job

Jesse Mecham, the creator of YNAB, believes that every dollar should have an assigned job. Dave Ramsey would say the same. And I agree.

If you don’t have a plan for your money, it tends to evaporate a dollar here and a dollar there, instead of helping you reach your goals. When I’m consistently keeping up with my budget, I do a better job of paying down my debt. No matter how committed I am to getting out of debt, when I let the budget slide, I don’t do as well, because I don’t see the results.

By keeping track of my budget in an easy to use software like YNAB, I easily see where my money is going and where I’m overspending. I can nip bad habits in the bud and get back on track right away.

Prepare for Rain

I live in Oregon. And every year, it rains. Without fail. I never know what day the rain will start, but I know it’s coming.

It’s the same way with finances. Everything is going smoothly for a while, and then suddenly the rain starts. Medical bills. Car repairs. A leaky roof. An unexpected expense blows the budget.

I recently experienced this as last week our car needed new tires (which we were anticipating) and then the radiator cracked (which we weren’t anticipating). We had an emergency fund to cover the expense, but it took a big hit.

And that’s the meaning of Rule 3. Unexpected expenses will come. So be prepared. In YNAB you are encouraged to save an emergency fund above and beyond the one month of income you have tucked away. Know the expenses are coming and have the funds on hand to cover them.

Roll With the Punches

No budget is perfect 100% of the time. Overspending happens. But what are you going to do about it?

Well, if you overspend one month, take the overspent amount from your available income the next month to make it even. YNAB automatically calculates this for you, so you can see how much money you have available in each budget category currently, and how much is available next month.

And if the amount you have budgeted in a certain category really isn’t working for you, it’s easy to adjust your budget to reflect a new amount.

YNAB Pro/YNAB 3 Giveaway

This post is getting long, so I’ll save the rest of it for another day. But before I sign off, I have an exciting giveaway!

I’m giving away one copy of YNAB Pro, worth $49.95! But even more exciting than that is the fact that YNAB 3 is coming out soon, and the winner will get a free upgrade when YNAB 3 is released! YNAB 3 will include lots of cool upgrades, and it will be Mac compatible, so you Mac users, feel free to enter the giveaway, too! I’ll be writing about YNAB 3 later this week, so stay tuned.

Since I absolutely love this software and think everyone could benefit by using it, I want to get the word out. So here’s how you can enter.

Leave a comment
Tweet about this giveaway on Twitter (you tweet an entry once a day)
Write a post about this giveaway, linking back to this post

For easy tweeting, here’s a short url for this post to use. http://budurl.com/wx95

To make it easy for me to count the entries, please leave a separate comment for each way you enter. So if you enter all three ways, first leave a regular comment. Then leave another comment with the link to your tweet. Then leave a 3rd comment with a link to your blog post.

If you tweet or write a post, please leave a link to your tweet or post, so I can make sure the entry is legitimate. I hate to have to do that, but it’s necessary.

I’ll close comments next Sunday at noon PST and draw a winner with a random number generator. The winner will have three days to contact me, or I will draw a new winner.

For those of you who can’t wait for the contest to end, you can get 10% off your copy of YNAB Pro by using the code “beingfrugal” (without the quotes…good through the end of November). In addition, if you download the free trial and purchase your software within 48 hours of starting your free trial, you will get 10% off, for a total of 20% off!

AND people who buy YNAB Pro after September 1 (so that’s everyone making a purchase after the time of this posting), will be given a free upgrade to YNAB 3 when it comes out! Not a bad deal!

I just love this software, and I know you will too!

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Friday Linkfest: Savvy Shopping Edition

Lynnae — Fri, 06 Nov 2009 11:00:38 +0000

I used to buy my kids’ clothes a year in advance, on clearance. Then they both hit huge growth spurts and started skipping sizes. So this year I found myself needing to buy winter clothing for both kids…right before winter.

I wasn’t too hopeful that I’d find a great deal, but I did. For my son, I hit The Children’s Place Online. Looking in the clearance section, I was able to buy 7 shirts, 4 pairs of pants, and a nice, heavy hoodie for $82. Then I applied a $20 off $80 code. Add $5 for shipping, and I spent $67. In addition, I shopped through Ebates, so I’ll receive 3% back.

But could I find that kind of deal for my daughter, since she’s right between children’s and junior sizes?

I logged into Swagbucks, and realized I had enough for a $100 JCPenney gift card. So I redeemed my bucks for a giftcard. As soon as the gift card hit my account, I hit the sale section at JCPenney, logging in through Ebates. I was able to buy 4 shirts, 2 pairs of jeans, and a hoodie for $111 shipped. But then I used a coupon to take $15 off, to bring the total down to $96. So I paid nothing out of pocket, and I’m getting 3% back from Ebates. Not bad, huh?

If you’ve never used Ebates or Swagbucks, make sure you sign up! It’s definitely worth it!

News of Note

Next week I’m going to be writing more about budgeting, and I have a fantastic giveaway to go with the theme! So be watching for that.

And I don’t usually beg for votes, but the daughter of some very good friends of mine is entered in a Halloween costume contest. She’s doing very well, but there’s some stiff competition. If you could vote for her, I would appreciate it! You can vote 3 times, and voting ends today! Let’s help the princess win!

The Roundup

If you’re looking for more great reading, make sure you check out these articles:

How Much Can You Save by Negotiating on Craigslist? – No Debt Plan
How to Buy a Slow Cooker or Crockpock – Squawkfox
Stocking Stuffer Ideas for Christmas – Investing Made Simple Book – Four Pillars
10 Simple Steps to Buying a Car or Truck on Ebay – The Dough Roller
The Great Big List of 75 Budgeting Tools, Finance Softwares, and iPhone Money Apps – Bible Money Matters
How I Paid off $15,000 in 9 Months by Selling my “Stuff” on eBay – Man vs. Debt

Have a great weekend!

Photo by theogeo.

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Kyle’s Coupons: Not-So-Common-Sense Money Saving Tips

Lynnae — Thu, 05 Nov 2009 11:00:33 +0000

The following is a regular feature by Kyle of Rather-Be-Shopping. If you like this post, consider subscribing to his blog’s RSS feed.

I like Lynnae’s tagline, “Live More. Spend Less.” This made me think of some of the more unconventional ways you can spend less money in everyday life. Most of us are already familiar with money saving tips like cutting back on the cable bill or stop driving through your local Starbucks for a $4 milkshake, I mean, umm, cup of coffee. Those are fairly common sense. But here are a few not-so-common sense ways to save money. Some of which I have done and some are courtesy of my very frugal Dad.

~ Water Plants With Recycled Water. This one comes from my Dad. He puts a 5 gallon bucket in the corner of the shower and when it gets full, he uses the water on his houseplants and plants on his patio. Plants can always use a little conditioner I guess.

~ Haircut For Less. This one is courtesy of my wife. She was going to a hair salon for a few months when she decided to ask if they had a “training day”. They did, and now she gets her hair done by a trainee, they always do a great job, and it costs a fraction of the regular price. Ask about this at your hair salon or look for a cosmetology school in your area that may offer training days.

~ Save Water In The Shower. Again, this one is from my frugal Dad. He gets in the shower, turns on the water to get wet, turns off the water, soaps up, then turns the water back on. He does indeed save water, but he has not had a warm shower since 1973. :-)

~ Brick In The Toilet. By putting a brick in the back of the toilet, you use less water every time you flush. This tip works best if you have an older toilet that uses a lot of water on every flush. The newer ‘low-flow’ toilets use much less water and would make a brick in the back less useful.

Do you think any of these tips are worth the time and effort? Please feel free to add your unconventional frugal living tips. Looking forward to your comments.

Now on to a more conventional money saving idea, online coupons. These coupons may be able to help you save money on things you need or maybe your early Christmas shopping. If your favorite store is not listed, please contact me and I will do my best to personally find you a coupon code.

Eddie Bauer.com
Get 20% Off your entire online purchase
Coupon Code: HOLRESTW9
Expiration: 11/09/09
See All: Eddie Bauer Coupons

Lands End.com
Free shipping on your entire online purchase
Coupon Code: NOV6 w/ the PIN 00009025
Expiration: 11/06/09
See All: Lands End Coupons

Mikasa.com
Get 20% Off the Highest Priced Item in your order
Coupon Code: TWENTY
Expiration: 11/22/09
See All: Mikasa Coupons

Melissa & Doug.com
Free Shipping on your entire online purchase
Coupon Code: freeship75
Expiration: 12/31/09
See All: Melissa & Doug Coupons

Old Navy.com
Free Shipping on your $50+ online purchase
Coupon Code: ONSHIP50
Expiration: 11/08/09
See All: Old Navy Coupons

Puma Store.com
Get 30% off your entire online purchase
Coupon Code: FANDF0911
Expiration: 11/07/09
See All: Puma Coupons

Sensational Beginnings.com
Save $10 off your $50+ online purchase
Coupon Code: MONEYSAVER
Expiration: 12/25/09
See All: Sensational Beginnings Coupons

Photo by stevendepolo.

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Tightwad Tuesday: Photo Christmas Cards

Lynnae — Tue, 03 Nov 2009 11:00:55 +0000

I like to send and receive Christmas cards. In today’s busy society, sometimes Christmas cards are the only time I update relatives on our family. And sometimes it’s the only time I receive updates.

But a few years ago, I found that my Christmas card routine was getting pretty cluttered…and expensive. I would buy the cards. Then I’d sign every one, with a short, personal message. Then I’d type up a longer family update in a family newsletter. I’d march the family down to a photo studio, for a Christmas picture. Then I’d have to cut out the pictures and stuff them into the envelope with the card and newsletter.

There had to be a better way.

These days I’ve changed my card routine a bit. We still write the Christmas letter, which we sign with our very own handwriting. Sometimes we attach a personal message too.

But instead of buying Christmas cards and paying for a professional portrait, I take a picture at home, and then I order photo cards. I stuff the envelope with the photo card and the family newsletter, and send them on their way.

Photo cards don’t have to be boring or expensive. A couple of our pictures from years gone by are:

The kids in front of the Christmas tree (I gave my son a present to hold, to keep his hands busy).

And the whole family in front of the tree in our matching pajamas.

I’ll admit that I’m not creative when coming up with Christmas picture ideas. A quick search of the internet will lead you to more ideas than you’ll ever use, though. The best ideas I came across can be found at Thrifty Fun here and here.

After you’ve taken (and possibly photoshopped) the perfect picture, you can either make up Christmas cards yourself and print them out, or you can upload the picture to a third party website, like Shutterfly or Snapfish to create Christmas cards for you. I don’t have photoshop, and I haven’t had time to learn Gimp yet (the free alternative), so I use whatever site has the best deals on photo cards at the time I’m shopping. Right now Vista Print has the best deal, so that’s probably who I’ll use.

If you give yourself enough time, you can create your own unique and frugal Christmas cards.

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Don’t Wait Until January to Think About Budgeting

Lynnae — Mon, 02 Nov 2009 11:00:38 +0000

It’s November, and people are thinking about buying Christmas presents, shopping for Thanksgiving dinner, and all the other little expenses that go along with two months of holidays.

There’s a temptation to bury your head in the sand, pull out the credit card for expenses, and deal with the aftermath in January. I know. I’ve been there. But do you really want to do that? Are you really going to be better able to pay for Christmas come January than you are right now? Probably not. So don’t set yourself up for budgeting failure.

This month I’m going to be focusing on controlling spending during the holiday season. To get you started, here are a few guidelines to live by.

Make a Holiday Wish List

Determine what you absolutely need to buy this holiday season. This is going to vary from person to person, based on your lifestyle and priorities. Things on your list might include:

Food for hosting dinners or holiday parties
Gifts (How many per person? Know the answer to this before you shop)
Christmas Tree
Christmas Cards
Stamps
Christmas Outfits
Photos

The list could include all of these items, or just a few. And the list could contain many more items. The important thing is that you make a list of your expectations.

Compare Your Ideals to Reality

Next compare all the things on your list to the reality of the money you have available. If you have plenty of money to cover your holiday expenses, without sacrificing life’s necessities or running up the credit card debt, you’re finished.

But if your holiday wish list exceeds your ability to pay for it, you’re going to have to adjust your thinking.

Cut Your Holiday Budget

You have some tough decisions to make, if you don’t want to rack up holiday debt. Begin thinking of ways you can save money on the holidays.

Shop for bargains on gifts…or make your own
If you have an informal family, consider potlucking big holiday dinners. My family does this every year, and it takes a lot of stress off the host.
Trim your Christmas card list. Or do what I did one year and send Easter cards instead. Moving the expense of sending cards to a different month gives you time to save for stamps.
Do you have a friend who could take a great family picture, instead of using a studio? You can often find bargains on printing your photos online.
I don’t know about other areas of the country, but in Oregon you can get a permit to cut your own Christmas tree for $5. Pack some soup in a thermos, head up to the snow, and make a family day of getting a cheap Christmas tree.

These are just a few ideas for cutting your holiday budget. I’ll be focusing on more ideas as the month goes on.

Don’t Cut the Holiday Fun

Make a second list. This list should contain fun things you can do that cost little (or no) extra money. Your frugal holiday list might include:

Christmas caroling
Watching holiday specials on TV (make sure to pop some popcorn)
Baking cookies or making candy
Looking at Christmas lights
Writing in a Thanksgiving Journal
Attending free community or church events
Reading holiday books with your kids

Make sure you ask your kids for input, too. My kids always have fun, creative suggestions for holiday activities.

Consider Giving Back

A great way to take the focus off your own lack of money is to focus on people who are even less fortunate. And there are always people who are less well off.

This time of year there are many ways go give.

Salvation Army buckets
Operation Christmas Child
Holiday Trees (the ones in the store, where you pick a child’s name off the tree and buy gifts for that child)
Toys for Tots
Baking cookies for shut ins
Visiting nursing homes and taking the time to talk with residents who have no relatives nearby.

If you look for ways to give, the possibilities are endless. And giving will not only bring joy to the receiver, but also to you, the giver.

Are you mindful of your holiday budget? Or are you going to worry about it later?

Photo by mangpages.

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