Personal Budgeting and Finances

I'm Back!

noreply@blogger.com (EJ Cooksey) — Fri, 29 Oct 2021 19:30:00 +0000

After many life-changing happenings, I am finally at a point to start updating this site again.

Many new articles to come!

Elisabeth

How to Efficiently Deal with a Financial Emergency

noreply@blogger.com (EJ Cooksey) — Tue, 10 Aug 2010 05:05:00 +0000

It happens to everyone at least once — just when you think you are on top of your finances and your budget is flowing smoothly, disaster strikes. The size of the disaster may not be huge; it could just be a blown tire during your tightly budgeted vacation. Or it could be as big as the loss of a job, a house fire or a disabling health condition. Whatever your financial emergency, you can get through it if you have planned ahead and prioritize.

A big part of making your budget is saving for the unexpected. Most financial experts agree that everyone should have an emergency fund of at least one month’s expenses. Ideally you should have savings and investments that could support you for six months or more.

Even if you are well set with savings to take care of financial emergencies, certain considerations will come into play.

* Redo your budget

While the cost to replace a blown tire may be covered in your ongoing car budget, you might find yourself spending an unexpected night in a motel while waiting for the tire shop to open. Or the kitchen fire that is covered by insurance may put a jump on your plans to renovate, requiring some shifting of budgeted savings. If a sudden loss of income has occurred, the budget may have to be drastically redone to meet basic needs.

* Negotiate payments

Call lenders and utility companies and see if a modification is available. Sometimes loans have built-in deferment options that could be available to you, or perhaps they can refinance to lower or put off a couple of payments.

If loan holders aren’t at the point where they are likely to sue you, you may just have to ignore them for a couple of months. Utility companies will often take one or two bills and spread them out over the next year. This would help if it’s a short-term crisis, but may only make things worse a few months down the road if nothing has changed.

* Ask for help

Consider getting any available help from the state or charities. Perhaps a new disability makes you eligible for Social Security or even food stamps. You can usually find help with groceries and utility payments at local food banks, social service organizations and churches.

* Prioritize

What expenses are most important? Always consider the roof over your head and the food on your table first. If that means your credit cards don’t get paid, so be it.

* Cut expenses down to the bare minimum

You do not need cable TV to survive, so it can go. Eliminate extra phone lines, leisure activities, and non-work related internet service. Cancel subscriptions and memberships that are about to renew or have monthly payments. Be careful of the legal implications of breaking any associated contracts, though.

* Earn extra money

You may not be able to take on an extra job in your current situation, but chances are you have things in your house you could sell. Try Craigslist or eBay, or just have a big rummage sale. You may be surprised at how much money you could make.

These are a few of the ways you can make it through a financial emergency or flat-out disaster. It may seem impossible, but many others have walked in the same shoes before and come out on the other end stronger and wiser for it. You can make it through.

Have a “No Splurge Month”

noreply@blogger.com (EJ Cooksey) — Mon, 09 Aug 2010 05:01:00 +0000

Do you need to save some money for a big purchase or recover from a large bill you just paid? Perhaps you just want to gain better control of your spending. Having a "No Splurge Month" could be the answer for you.

A “No Splurge Month” is when you designate a month where you won't spend any money on anything that isn't absolutely essential. There is no spending money on anything you don't legitimately need. When done as a family, this is a great way to save some money and learn more about what you can really live without.

Before you decide to stop spending unnecessary money, you will have to make a plan. Otherwise, old habits will probably take over and your "No Splurge Month" can easily be derailed.

First of all, pick a month that will realistically work for you and your family to not splurge. You'll probably want to avoid months where you are celebrating a major holiday or taking a vacation. Also, plan it for a month when you won't have unexpected genuine needs, like when the kids go back to school.

When you have your month selected, plan how you will handle specific situations that will arise during that month. For example, if there is a child's birthday party in the month you're deciding not to splurge, decide ahead of time how you will handle that. That will help you stick to your no-splurging plan.

It might also help for you to set a budget for the month. That will help you stay focused in your spending. You may want to put away your credit cards during this time too. Having your credit cards close at hand makes it each to follow to urge to splurge when it strikes.

In your planning, be realistic. Acknowledge that unexpected yet legitimate expenses may arise, no matter how well you plan. You may want to set aside a certain amount cash to cover those. You can still keep costs down by putting only a small amount of money aside, and any surprise expenses have to come from that amount.

Before you start your "No Splurge Month" it's essential to talk about it as a family. With everyone on board, it will be easier to avoid needless spending. Decide as a family what you are allowed to spend money on. This may be a good time to talk about the difference between needs and wants. If you explain to everyone what you're doing, and the purpose behind it, they will be more helpful and not ask for things that you haven't agreed on beforehand. Kids may even view a "No Splurge Month" as a fun challenge and hold you accountable for your own spending.

Having a "No Splurge Month" is a great way to get spending under control and find out what you really can live without. By planning ahead and involving the whole family, it can be a success for everyone involved.

5 Ways to Make Your Salary Stretch Further

noreply@blogger.com (EJ Cooksey) — Sun, 08 Aug 2010 05:00:00 +0000

Living on a budget is not always an easy thing to do, especially when expenses will arise when you least expect them. But, even though it may not seem possible there are many ways to make your salary stretch further. Avoiding needless spending, comparison shopping and utilizing budget billing are a few ways to achieve this.

1. Avoid any needless spending.

How many times have you gone to the store to pick up one or two items and left with a cart full? Sometimes it is easy to get drawn into sales that you did not know about and spend more than you wanted to. Most of the items are not necessary or needed at the moment.

To help you curb unnecessary spending, either wait until you have a list of items to buy or keep yourself limited to the items you only need. Wants can be purchased at a later date as your budget allows.

2. Comparison shopping is the best way to save money on expensive items.

If you find yourself in the market for an appliance or a similar item, be sure to do some comparison shopping before committing to the purchase. Many times stores will offer sales around holidays or when state-run programs are being funded.

3. Grocery shopping can be expensive, especially if you have a large family to feed.

Consider buying store-brand items instead of name brand. This will alleviate some of your grocery shopping costs. You will find that most items are comparable in taste.

4. Budget billing is a great way to budget for your utilities.

Most electric and gas companies allow for budget billing for those on strict budgets. Simply call your provider and ask for details on the plan. The way it works is a single monthly payment amount is implemented based on your average yearly consumption. At the end of the year you’ll either have a credit or a lump sum payment due for the difference.

5. Eat at home.

Plan accordingly each week and plan your meals. This will help avoid unnecessary purchases at the grocery store as well as mid-week trips to pick up forgotten items. Avoid restaurants as they can be overpriced and if you do decide to go out, search for coupons first. Many restaurants will offer coupon deals such as 50% on a second meal.

Stretching your money may seem impossible but with a little training, it is possible to not only stretch your salary to cover bills, but also have money left over. Use budget-conscious moves such as avoiding unnecessary expenses, comparison shopping and budget billing for a few ideas. In the end, your wallet will thank you.

7 Easy Strategies to Practice Self-Discipline and Frugality

noreply@blogger.com (EJ Cooksey) — Sat, 07 Aug 2010 05:01:00 +0000

Deciding to practice self-discipline and be frugal in your spending is one thing. Actually doing so is often quite another. Our old habits are hard to break. However, if you apply strategies to your spending, you will find it easier to practice self-discipline and frugality. Here are some easy strategies to get you started.

* Change your attitude about money. How you think about money determines the role it plays in your life. Stop thinking that you have to have the same things as everyone else. Instead, focus on what you really need instead of what you just want.

* Recognize and be grateful for all the positives in your life. Changing your perspective can help you see the abundance you already enjoy, regardless of how much money you have to spend.

* Take positive action. It can be tempting to make excuses about why you can never save any money, or why you can't spend less than you already do. Instead of wasting energy complaining about it, focus on positive steps you can take. Can you do something to bring in some extra income? Do you have any unneeded items you can sell on eBay or Craigslist? This can give you a sense of control over your finances and a more positive outlook.

* Learn to make and fix things yourself. Packaged foods and restaurant meals are convenient. However, they are an unnecessary expense. You can learn how to make them yourself. You can also save money by making your own home-made cleaning supplies, specialty coffees, and many other things you buy. As well, learn to fix things around the house instead of replacing them when they break.

* Comparison shop. If you've always shopped at one particular store for your favorite products, it may be time to do a little comparison shopping. Shop around for better deals. You may even want to check online and see if you can order your items for a better price. It might be time to try a less expensive brand as well.

* Track your spending. Knowing exactly where your money is going will help you keep on top of your spending. Even small expenditures can add up over time. Track every purchase you make, no matter how small. You might be surprised to find how much money is really slipping through your fingers. Having to record each purchase will also help you maintain self-discipline in your spending.

* Explore other options. Just because you've always done something one way, it doesn't mean you can't change your patterns. Do you need to drive to work, or could you save money by carpooling instead? Do you need the full cable package for your TV, or is this a good time to turn off the television and get the family outdoors? Looking at all your options will help you decide which are the best for you and will help you save money.

If you've decided to practice self-discipline and frugality in your spending, you will have many challenges to overcome. However, by applying some of the above strategies to your spending habits, you will find it much easier to follow through.

Top 5 Features of a Successful Budget

noreply@blogger.com (EJ Cooksey) — Fri, 06 Aug 2010 06:06:00 +0000

Budgeting seems simple enough, but when put into practice most people suddenly realize it is incredibly difficult to make and stick with a budget if certain factors are not developed. Successful budgets, no matter the size or purpose, all have a few common denominators: reality, goals, commitment, focus, and self-discipline.

1. Reality

Your budget needs to be tailored to fit your particular needs. Consider your income, debt, housing payments and utilities, insurance costs, food requirements, clothing requirements, transportation, activities for each family member, the ages of family members, and your particular financial goals.

Do you need to budget semi-temporary expenses or long-term goals? Do you have plenty of income or are you barely scrimping by? Look at your own situation and seriously consider what money needs to go where to meet the needs and wishes of yourself and your family. Don’t forget unexpected and once-a-year expenses in your planning.

2. Goals

To create a successful budget you need goals. Having goals will help you decide where you want your money to go. Plan your goals at least monthly and yearly with some long-term goals thrown in. If it works for you, take your monthly goals and break them down into weekly and daily goals as well.

For example, if you have a goal of reducing your environmental footprint, then perhaps a logical goal for you would be to reduce your electric bill through energy conservation and to save money towards installing eco-friendly appliances or solar panels.

3. Commitment

You could spend a month breaking down your budget to the tiniest detail and setting great goals, but if you aren’t committed to meeting those goals and maintaining your budget, then you will be wasting your time. Commitment is as important to keeping a budget as earning the supporting income is.

4. Focus

Once you have your budget and goals in place and you have committed yourself to achieving them, you will start thinking of them every time an expense comes up. Breaking the budget on a new, bigger television will not seem so attractive when you know that doing so will mean one day less on your vacation in the mountains this summer. Focusing on your goals and your budget will keep you on the straight path towards a successful budget and achievement of your financial goals.

5. Self-Discipline

Similar to commitment in many ways, self-discipline is the factor that allows you to focus and stay committed to achieving your goals and sticking to a budget. It is the factor that keeps you from buying a snack in the checkout line when you are hungry but your grocery budget is at capacity. Self-discipline keeps your housing budget at the amount you know you can afford, no matter what the bank or realtor suggests you can afford. It is a vital trait to develop, not only to maintain a budget and meet goals, but for just about every aspect of your life.

Working together, the factors of reality, goals, commitment, focus, and self-discipline will be just about all you need to create and stick with a budget. No matter if your income is ten thousand dollars a year or ten million, a fully functioning budget will help you have more, earn more, and live better.

Discipline Yourself to Spend Less

noreply@blogger.com (EJ Cooksey) — Thu, 15 Jul 2010 05:48:00 +0000

No one wants to go into debt. We try to avoid it if we can, but we fall into the traps of credit cards and delayed payment specials so easily. Curbing our spending requires discipline and an honest effort.

As consumers, we have to learn to live within our means. This is more than having enough money in a paycheck to pay our bills. Financial security is having something in a savings account and money left over from our paychecks to use in an emergency if we need it.

Living paycheck to paycheck can be dangerous, especially if you have a family. Children get sick; cars break down. Taking money from the bills is not a wise decision, but if you are in a bind, you do what you have to do. The way to break this cycle is to spend less money each month.

Everyone wants to know how to do that.

Discipline begins with a plan. A sound financial plan begins with a family budget. The first budget will be the hardest to develop, but once you get the hang of it, it won’t be so time-consuming the next time.

A budget is only as good as the people using it.

Keep yourself accountable to someone — your spouse, your friend, your parents. Have a person who will call you out if you are spending too much money.

It takes two weeks to make or break a habit.

Start at the beginning of a month and try out your budget. If you eat out for lunch at work, why not prepare your lunch for a month. Include lunch items on the grocery list and pack your lunch the night before.

Spending less requires changes in other areas besides the finances.

Lunches for the kids and yourself can be fixed at night so no one forgets in the morning. Thaw out a meat for dinner in the morning so there is no excuse to eat out. Leave notes on the bathroom mirror and the refrigerator if you have to until you get the hang of the new way of doing things.

Don’t run out armed with your credit card or checkbook each time anyone wants something.

Ask if it is necessary to have that particular item. Search around the house first to see if you already have it. I seem to buy a new pack of crayons each time my kids have a project. At the end of the school year, I find at least five boxes of crayons lying around. I would only have invested in one if I had taken the time to look. Okay, crayons aren’t that expensive, but it is the discipline that we are going for here.

Don’t alter your new spending habits when you get a raise at work or a holiday bonus.

Treat the extra money as a way to save more. Don’t include it in the monthly budget. Simply take the cash and put it in the savings account.

Spending habits don’t change overnight. It takes time to change a shopaholic into a frugal fan, but it can be done when you try.

Recommended Product: Money Tree Personal Budgeting Software

Frugal Fourth of July Party Ideas

noreply@blogger.com (EJ Cooksey) — Sat, 03 Jul 2010 22:09:00 +0000

Summer is a time for celebrating and the Fourth of July is the keystone summer holiday. Fourth of July celebrations can get quite expensive, especially if you throw a big party every year. There are ways to keep your costs down without sacrificing the quality of the party. Here are some ideas to help create the perfect Fourth of July party without the big price tag.

Close neighborhoods are famous for a potluck get together. A potluck is where each person attending the party brings a food item to share with others. This way, no one person bears the brunt of the hefty food bill. In turn, it is an excellent way for neighbors and families to try different recipes.

If a potluck is not possible, one neighbor can be in charge of a Fourth of July fund. The fund will include donations from friends, neighbors and family members who are participating in the party. It helps to keep costs down and allows for a wider variety of food and decorations.

Fireworks are a staple of the Fourth of July holiday, but in many places, they are illegal to own and set off on the holiday. If you live in an area that allows fireworks, it can be fun to set them off. Always remember to follow safety precautions at all times.

If your own fireworks are not an option, visit a local park. Many state and county parks set off fireworks in an annual celebration. It usually does not cost much, if anything, to visit the park. To keep it cheap, eat at home before attending the park. Many people hold barbeques at their houses or within the neighborhood and visit the parks at dusk for the fireworks show. Fireworks can be expensive, especially if you plan to have a good show, so you can cut out that cost completely by watching the local shows.

There is nothing wrong with keeping things simple. If you only want to host a small party with family and close friends, do so. Feeding many people can be expensive, especially if beer and other alcohol is provided. In today’s economy, saving money, where possible, is important and most people will understand why you are not hosting a big party if that is the norm.

While the Fourth of July is a big holiday weekend, it can break the bank if you throw a big party every year. With the economic state being in a recession, it may not be possible to throw the big shindig that you typically do. Fear not, because there are several ways you can still celebrate and enjoy the holiday with your friends and family.

Organize a neighborhood potluck or a neighborhood fund for the party. Visit the local annual fireworks show instead of buying your own and above all, keep it simple if need be hosting only close friends and family. The holiday can be a big bang without the added stress of going broke by following the above tips.

Thanks to my Entrecard Top Droppers for May!

noreply@blogger.com (EJ Cooksey) — Tue, 01 Jun 2010 23:22:00 +0000

How to Make Money - This is my internet marketing blog. I try to drop back on all websites that drop their card on my blog, so consider dropping by. 1000 ECs to top dropper on 7th June

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Frugal Mother’s Day Gift Ideas

noreply@blogger.com (EJ Cooksey) — Fri, 30 Apr 2010 19:08:00 +0000

We all want to celebrate and honor our moms on Mother’s Day, but you may be stumped for frugal Mother’s Day gift ideas this year. Giving Mother’s Day gifts doesn’t have to break your budget if you use one of these ideas.

Many restaurants offer discounts for mothers on Mother’s Day; some even allow moms to eat for free. You can check your local newspaper to see if there are any local restaurants offering this type of deal.

If you can’t find a restaurant that allows mom to eat for free or a reduced price, that doesn’t mean you can’t take mom out for the day. You may be able to find a museum or concert that has a Mother’s Day special. Check local colleges or universities, the newspaper, or online to find a venue offering a special for Mother’s Day.

You can also plan a picnic for you to share. It’ll give you time to enjoy each other’s company, can be healthier than restaurants, and will be much cheaper.

How long has it been since your family had a family portrait done? If it’s been a long time, you may want to find a relatively recent photo with everyone in it. Take the photo or negative to have it enlarged. You can also find a nice frame for the enlargement and it doesn’t have to drain your pocketbook.

Think about the things that your mom likes but rarely splurges on. Maybe she has a favorite magazine she used to read but hasn’t lately. She may enjoy good quality chocolate but feels it’s an indulgence she can’t afford. Splurge a little and buy that thing for her for her special day. You may find that she appreciates this gift more than any other you’ve given because it shows that you listened to her, recognized her self-denial, and then gave her what she wanted.

Cut flowers can be expensive and they die within a week or so of receiving them. You can find a nice flowering perennial that can be planted in her yard and enjoyed for years to come. Why not make a certificate offering to plant the perennial at a time that suits her?

Consider finding old family photos and putting them into a memory scrapbook for her. Yes, it’ll take some time to complete this task, but she’ll love having access to family photos she hasn’t seen in years.

Mother’s Day doesn’t have to be a holiday you worry about each year because of the cost. You can find many frugal Mother’s Day ideas here or by searching for them on the internet. And, really, it is the thought that counts much more than the amount of money you spent for the day.

8 Tips to Help You Beat Budget Busters

noreply@blogger.com (EJ Cooksey) — Thu, 15 Apr 2010 06:06:00 +0000

If you want to have control over your finances, a budget is essential. Knowing exactly how much money you have coming in each month and how much it will take to pay bills, buy the things you need and save a little, is the best way to prevent a financial meltdown. But it only works if you follow it closely.

Sometimes sticking to a budget is easier said than done. Everyone has a lapse every now and then, and while a couple of dollars won't make a huge difference, it can add up when it happens repeatedly. This will throw off your budget, and it could leave you struggling to come up with the money for the things you truly need.

By planning ahead and avoiding impulse buying, we can beat the budget busters. Here are some tips:

* Pack your lunch instead of eating out every day. But don't just slap a sandwich together. If you incorporate some variety into your lunches, you won't be as tempted to indulge in fast food.

* Make your own coffee to take with you instead of stopping at the coffee shop. It's much cheaper to brew it yourself, and a good insulated coffee mug will keep it hot for hours.

* Don't go window shopping. The temptation can be overwhelming, making it hard to come home empty-handed.

* Go to stores only when you need something specific. Make a list and stick to it.

* When going on trips, buy all of the snacks and drinks you'll need at the grocery store and bring them along. Prices are usually much higher at convenience stores.

* If possible, do your shopping without the kids. They have a way of finding something that they just have to have during any shopping trip, and it can be hard to say no. Try to shop while they're in school, or have a friend or family member watch them while you shop.

* Avoid buying things just because they're on sale. Finding things that you need and will use at a discount is wonderful for the budget, but making purchases that will do nothing but collect dust is a waste of money, no matter how good a deal you get.

* Institute a waiting period on non-essential purchases. When you see something you want or feel that you need (other than basic necessities), give yourself a couple of days to mull it over instead of buying right away. Once you've had the chance to think about it, you may find that you didn't really need it after all.

Breaking the budget is an easy thing to do. But getting back on track can be much harder. If you plan ahead and think about purchases before you make them, you can save yourself some money and keep your finances manageable.

Setting Financial Priorities During Hard Times

noreply@blogger.com (EJ Cooksey) — Sun, 24 Jan 2010 19:49:00 +0000

Most of us have experienced times of financial hardship at one time or another. Sometimes it's because of layoffs or reduced working hours. Other times, it's due to large, unexpected expenses. But no matter what the reason, financial difficulties necessitate taking a look at our priorities.

When money is no object, we often spend it on things that we do not really need. We might go out to fancy restaurants every week, buy designer clothes or buy expensive high-tech toys for the kids. But when our disposable income is reduced, we must often give those things up to have enough money to pay the bills and spend on necessities.

Each individual or family will have slightly different priorities. But here are some things that should always be near the top of the list:

* Savings - When funds are limited, it might seem counter-productive to think about savings. But this is actually the time we need to concentrate on savings the most. When there's little wiggle room in the budget, unexpected expenses can be devastating. Keeping a little money out of each paycheck may or may not pay for whatever comes up in full, but it will help.

* Housing - Having a place to live is something most of us take for granted, but when times are tough, keeping up the payments can be difficult. Try to pay the rent or mortgage early if possible, or at least make sure it's paid on time. If you own your home, homeowners insurance must also remain current.

* Transportation - If you live close enough to work to walk or ride your bike there, transportation may not be an issue. Otherwise, it's important to keep enough money to get to work and back so that you don't end up in even worse financial straits. Using public transportation, if possible, is less expensive than driving. If you must drive, try to find someone to carpool with. And don't forget about car insurance and maintenance.

* Heat and electricity - If you live in a climate that experiences cold weather, having heat is a must. Electricity is also important so that you can safely store food and cook. If it comes down to choosing which bills to pay, these must receive very high priority.

* Food - Everyone has to eat to live, so having food is a top priority. But if you're having trouble making ends meet, food pantries and soup kitchens can help. If your income is low enough, you may also qualify for food stamps.

* Health care - Doctor visits are not cheap, especially if you are uninsured. If you find yourself in need of health care but are unable to pay for it, look for free or low-cost clinics in your area. Most use a sliding fee scale that's based on income, and some will allow you to make payments if necessary.

When there's barely enough money to go around, setting priorities is crucial. You may have to cut unnecessary expenses such as cable TV and gym memberships, at least temporarily, to have enough money for necessities. If you still have trouble meeting basic needs, remember that help is available.

noreply@blogger.com (EJ Cooksey) — Sat, 02 Jan 2010 04:16:00 +0000

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7 Tips for Setting Up Your Christmas Budget

noreply@blogger.com (EJ Cooksey) — Wed, 02 Dec 2009 05:30:00 +0000

There are many ways you can set up a budget for Christmas. The key is to begin early. Since Christmas is only three weeks away, you will probably need to put your Christmas gift list together now.

Here are some tips:

As you begin to make your gift list, budget an amount that you can afford for each person and stick to it. If you think you are going over the amount specified, why not buy a gift card for that amount.
If you have been exchanging gifts with siblings and their children, now is a good time to talk with your brothers and/or sisters and decide that presents will only be given to children this year.
Instead of purchasing new decorations this year, enhance the ones you already have on hand. Get the family involved in making decorations, utilizing items you have in your home.
Wrapping paper and cards can be very expensive. Make Christmas cards online and/or send e-cards to your friends and family members. As for wrapping paper, you can use tissue paper, newspaper, or utilize the Christmas bags you received last year and spruce them up.
Pay for gifts with cash if at all possible. Using your credit card will just put you into debt or, in some cases, more debt than you can handle. If you have to pay with a credit card, try and pay off the balance as soon as possible.
If you love to bake, you can also make your own gifts baskets for Christmas. Visit any dollar store to purchase the baskets. Fill the baskets with muffins and cookies, cakes and teas. This is very affordable to make and will be a most welcomed gift.
Gift cards are also very popular and you can save time and money by purchasing gift cards to nail salons, online shops, department stores, electronic stores, or even supermarkets. You’ll save money on gas by not having to go from store to store, and you can do this from the comfort of your home.

Setting up a Christmas budget can be done as late as December 1st. However, think about starting to save money for next Christmas on December 26. If you put five dollars away each week, by next December you’ll have enough money to buy affordable gifts and put money aside to pay down any debt as well.

Affiliate Disclosure

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Get Personal at Christmas and Save Money

noreply@blogger.com (EJ Cooksey) — Mon, 30 Nov 2009 01:38:00 +0000

With the Christmas holidays so close, you may be checking your budget to determine how much you can spend this year. Perhaps this may be the year that personalized gifts may be more appropriate in order for you to save some money.

Over the last several years, personalized Christmas gifts have become the norm rather than the exception. Certainly, this year you may be considering trimming down your list as well as coming up with creative presents you can give to your friends, co-workers, and family members.

If you love to bake, for example, putting together a Christmas baskets of cookies and cupcakes can make for a wonderful gift. Themed gift baskets are also very popular and can easily be made with very little money.

Image via Wikipedia

Do you love to sew? Making mittens and hats is another way to express your creativity while providing the recipient with a warm and cozy gift package.

Another favorite that everyone appreciates as a gift is homemade jams and jellies. Add some green tea and biscuits and you have a lovely Christmas basket that cost a minimum amount of dollars to make.

Making homemade Christmas cards is another way you can save money. Alternatively, sending e-cards can reduce the amount you spend on stamps as well.

Don’t forget chocolate! This is often the best gift you can give to anyone. Chocolate cake, cupcakes, homemade brownies, and cookies will wow the recipients who receive this gift. Whether you utilize a large mug or present a small basket, you can certainly stretch your dollar by making these homemade treats.

Among other personalized gifts you can make at home are picture frames, scrapbooks, collages, throw blankets, and baskets filled with kitchen items you can purchase at a dollar store. The possibilities are endless.

Start visiting craft stores in your area to find new ideas of expressing your holiday sentiments. Remember, it’s the thought that counts.

Happy Thanksgiving!

noreply@blogger.com (EJ Cooksey) — Fri, 27 Nov 2009 02:59:00 +0000

Shout Out to my Top 10 Entrecard Droppers in October!

noreply@blogger.com (EJ Cooksey) — Mon, 02 Nov 2009 07:15:00 +0000

Thank You!

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Reevaluate Your Policies to Save Money

noreply@blogger.com (EJ Cooksey) — Tue, 27 Oct 2009 03:46:00 +0000

If you’re like many people nowadays, you are probably on the lookout for ways to put or keep more money in your pocket. It’s strange how that biweekly or monthly paycheck seems to disappear without a trace. Look into your insurance and medical policies, as well as tax deductions for some pennies here and there.

Our extracurricular activities get the blame for hogging all the money, but there are other explanations as well. Depending on the things you like and don’t want to give up without a fight, it could be that the things we need are also taking more money than they should. Let’s look at a few of those things.

Claim more deductions.

Who doesn’t want to get a check from Uncle Sam? It’s even better to see that money in your paycheck each pay period throughout the year. Take a look at your refund and your W-2 deductions. Claim another deduction when possible to see more money now. Getting a refund means that the government has the use of your hard-earned cash instead of you throughout the year.

Insurance policies.

Take a look at your life insurance policy. What type of policy do you have? Do you have more coverage than you need? It is a good idea to investigate this each year. When the kids go to school or you hit retirement your needs may change. In the meantime, you could actually be saving hundreds of dollars right now.

Bundle policies.

Get life, auto and homeowner’s insurance from the same company. If you have separate companies for everything, you are probably spending too much. Some companies offer deals to have the chance to carry more of your business. Not sure if your company will bundle policies together, you’ll never know if you don’t ask.

Health insurance.

What are your savings? Many employers offer health plans, but are those plans really meeting your needs? If you are in reasonably good health, you can qualify for an independent policy through providers like Blue Cross/Blue Shield for less money. If you and your spouse have the same insurance plan offered at your jobs, take advantage of that to coordinate benefits and pay next to nothing for medical services.

Car insurance.

Financial people recommend that you reevaluate your coverage every three years or so. If you have been an excellent driver with no record of accidents, look for car insurers that reward this type of driving history with low premiums and other perks. Even if you are okay with your car insurer, see if they can offer you better premiums for being a loyal customer.

What policies do you hold? From time to time it is okay to see if you can save money on them. In fact, it is prudent to do so. The extra money you need could be in the pages of one of those policies.

The Cost of Not Having Health Insurance

noreply@blogger.com (EJ Cooksey) — Wed, 19 Aug 2009 18:57:00 +0000

One of the biggest concerns in our society is health insurance. On the one hand, it costs so much of our pay to have a health insurance policy in the first place. On the other hand, millions of people are living day to day without the umbrella of health insurance to cover them and their families.

These people are just like you and me. They are not necessarily poor or destitute. People whose jobs are part time may not be offered health insurance as a part of their benefits.

This means that they must look for an independent policy. Depending on their age, medical history, and other demographics, their independent policy may be more than they can afford on their salary. As a consequence, they and their family go uninsured.

With the high price of premiums, it may cost several hundred dollars a month for health insurance for the entire family. This means less money in the paycheck for living expenses. Families have to make a determination of what is more important at the time.

Many people use the emergency room at the hospital as a doctor’s office. When they have a serious health problem, they go there. A community hospital accepts patients without insurance with their promise to pay the bill. These bills can be high and payment can drag on for some time.

To combat the costs of uninsured patients, hospitals raise their fees for service to offset the cost. These increased charges are passed on to patients with insurance. Depending on what their health insurance company is willing to pay, that could mean a substantial hospital bill after your stay, even with health insurance.

Without health insurance, people cannot get the help that they need when they are feeling poorly. Conditions worsen until they must go to the hospital. Now, the cost is more than it might have been if the person had had the means to visit the doctor.

Children make up a good percentage of the uninsured. When their parents can’t afford health insurance, they go uncovered as well. Over-the-counter medications substitute for regular check-ups at the doctor’s office. Childhood vaccinations are important for the future health of a child. Children that don’t receive them are at risk for various diseases that the vaccines would prevent.

Another health concern is pregnancy. Those who have no insurance and can’t afford prenatal care are more likely to develop problems during their pregnancy, either with the mother or with the child. Pregnancy may seem like an event that takes care of itself, but all sorts of things can happen during those nine months. Being under a doctor’s care brings peace of mind and immediate help if something is wrong.

What is the high cost of not having health insurance? It is increased illness, higher premiums and hospital charges, not to mention deaths. This is a serious issue for which a resolution couldn’t come a moment too soon.

Making the 4th of July Festive on a Tight Budget

noreply@blogger.com (EJ Cooksey) — Sat, 27 Jun 2009 15:54:00 +0000

There are so many things you can do and food you can make that doesn’t have to cost a fortune, but will make your 4th of July sparkle as if you spent a fortune! Below are some decorating ideas, food ideas and other inexpensive things you can do!

Decorating Ideas

Red, white and blue decorations and patriotic decorations come out before Memorial Day, so you should be able to find an abundance at your local dollar store.

Homemade 4th of July decorations are easy to make and you probably have some or most of the supplies you’ll need already on hand.

Here are some inexpensive things you can make using items you have on hand:

Craft Stick Flags

Paint 5 sticks red and 4 white (per number of flags you want to make). Let dry. Glue the painted sticks together in an alternating pattern by gluing them to one craft stick on the right side and two broken craft sticks in the middle and on the left side. Cut a small square of blue construction paper and color white stars using a white gel pen. When the glue has set, turn the flag over. Glue on the square of blue construction paper and glue another craft stick to the long craft stick on the back. Let the glue set.

Stars on a String

Cut out large stars using red, white and blue construction paper. Decorate as desired. Fold over one tip of each star and staple or glue to desired length of red or blue string. You can use these to decorate your base camp!

Festive, Yet Inexpensive Ideas for Food

Chicken: You can usually buy chicken on sale really cheap. So, before the 4th is upon us, be checking your local store’s weekly sales paper for chicken on sale, then stock up. You can make great bbq chicken on the grill.

Corn on the Cob: Summertime is the best time to get inexpensive corn on the cob. You can grill it in their husks right along with the BBQ chicken!

Watermelon: Watermelon is one of the least expensive foods for the amount you get. You can make watermelon salads, fruit bowls and other yummy side dishes that will fill your family and guests up!

Other things you can do inexpensively to celebrate our nation’s independence are:

• Have a backyard party and have everyone bring a dish to pass.
• Add sparklers to your burgers when serving them.
• Don’t pass up invites to friends or family who are having backyard parties and take a dish to pass.
• Don’t feel like you have to go all out with decorations. Simply using red, white and blue paper plates, cups and napkins will give your home a patriotic feel.
• Use a vase you already have and fill it with flags from the dollar store. Give one to guests as they arrive too.

Celebrating the 4th of July shouldn’t cost a fortune, especially in a recession! Using simple tips like the ones above will help you stick to your budget AND enjoy a festive Independence Day!

Ten Tips to Create, Prioritize and Manage a Budget

noreply@blogger.com (EJ Cooksey) — Mon, 01 Jun 2009 21:33:00 +0000

Mention the word “budget,” and people’s eyes tend to glaze over. Budgeting isn’t the most exciting activity in the world, and on the surface it is extremely limiting. We don’t like it when other people try to tell us how to spend our money, and even setting parameters of our own may seem too much.

What many of us do not realize is that a budget is the ticket to financial freedom. It restricts what we spend each month, but in the long run it allows us to get more out of our money. Instead of frittering funds away on things we could comfortably do without, we can save up for emergencies as well as things we enjoy.

Here are ten tips for creating a budget, setting priorities and keeping tabs on spending.

1. Be realistic. All too often, we create the perfect budget on paper, only to completely blow it in practice. This is frequently because we are not realistic about our expenses. It may help to save all receipts for a month before you start on your budget. That way you can evaluate how much you’re really spending and avoid budgeting too little for any given item.

2. Remember the little things. Eating out every day instead of packing your lunch might not seem like a big deal, but it can really add up. The same is true for many of the habits we have. Cutting back where practical can save you more money than you might think.

3. Lower your bills when possible. A good place to start is with your cable bill. Do you really need all of those movie channels? What about your cell phone bill? Would a less expensive plan meet your needs? Knocking a few dollars a month off of your bills could leave you with hundreds of extra dollars each year.

4. Get the whole family involved. A budget affects the entire household, so everyone should have a say. You may have to make changes that everyone doesn’t agree with, but they will be more likely to accept them if you listen to all input. Family members may also have ideas that you wouldn’t have thought of on your own.

5. Give everyone an allowance, not just the kids. Setting reasonable limits for discretionary spending will help prevent your budget from being derailed.

6. Make sure the necessities always come first. Budgeting for entertainment and other wants is important, but if push comes to shove, food, water, clothing and shelter are the most important things. Budget for these and the things that enable you to work (such as transportation) first.

7. Include savings in your budget. Saving up some money for emergencies is crucial for every individual and family. Try coming up with an amount to save each month and include it in the budget before any non-necessities.

8. Keep track of all expenditures. Save receipts or write down every expense so you can compare your actual spending to your budget. If you spend less money than budgeted, consider allocating more to savings. If you spend more money than you planned, you need to either watch your spending more closely or make adjustments to your budget.

9. Avoid using credit cards irresponsibly. Buying on credit will result in less spending of money in the short run, but you will have to pay it back with interest unless the balance is paid in full each month.

10. If you get extra money, use it wisely. Consider putting it directly into savings or using it to pay down debt. Spending it on something you want might feel good, but that doesn’t help your overall financial picture.

How to Create a Family Budget

noreply@blogger.com (EJ Cooksey) — Tue, 26 May 2009 05:30:00 +0000

For singles, creating a personal budget is relatively easy. They tend to have a good handle on how much money they have coming in, and when tracking expenses, they only have their own to think about.

But creating a family budget is a whole new ball game. Most families have multiple sources of income. And when there are multiple spenders, that makes things much more confusing. This is one of the main reasons that families lack a formal budget. But having a budget and sticking to it can greatly improve a family's financial outlook.

Making a family budget may be tricky, but it can be done. Here's how.

1. Take inventory of all income. If a certain source of income fluctuates from month to month, use the lowest amount or average it out.

2. Keep track of all expenses for a month or so. Keep all of your receipts, and ask all family members to turn theirs in to you each day.

3. Add up your monthly expenses. Be sure to include bills, debt payments, groceries, and everyday expenses such as lunch money and transportation costs.

4. Get the family together and discuss ways you can trim the budget. Getting input from other family members will help you determine which expenses are necessary and which ones could be cut down or eliminated. Maybe you or your spouse could start taking lunch to work instead of eating out, or maybe the kids can drop an extracurricular activity.

5. In addition to individual expenses, discuss how you can cut down on the electric bill, groceries and other necessary family expenses. Consider such things as carpooling or taking public transportation, buying more generic foods and adjusting the thermostat.

6. Estimate how much you can save on regular expenses, and cut the completely unnecessary items out of the budget. Then re-figure it and see where you stand.

7. If you end up with a surplus, allocate a portion of it to savings. If you're in the red, go back and rework the budget until you have more income than expenses.

Being Realistic

One reason that family budgets often fail is because they're just not realistic. It's great to cut down on expenses, but sometimes we tend to go too far. For example, cutting entertainment out of the budget completely might look good on paper, but we all need a little diversion every now and then. Instead of cutting such things out of the budget completely, consider finding ways to lower the cost.

Going back to the entertainment example, maybe you've been going to dinner and a movie as a family twice a month. But eating in and renting a new release would be much cheaper, and you would still get to spend quality time together.

Individual expenses can also be tricky. This can be resolved by allocating a certain amount for each family member to spend each week. If someone spends his entire amount before the week is up, reevaluate his expenses and adjust if necessary.

Creating a family budget can help keep spending under control, leaving more money to pay down debts and save for future goals. But in order to succeed, close monitoring is essential. Your efforts will be rewarded, however, with less financial stress and more money in the long run.

How to Stay Motivated While Getting Out of Debt

noreply@blogger.com (EJ Cooksey) — Fri, 13 Mar 2009 16:38:00 +0000

Living Debt Free presents this motivational movie to help you stay motivated when trying to get out of debt

9 Simple Ways to Save Money on Your Groceries

noreply@blogger.com (EJ Cooksey) — Thu, 19 Feb 2009 19:57:00 +0000

It never fails, we budget for our groceries, but the bill always ends up being more. We underestimate, run out of things faster than expected and overall, everything is becoming just too darned expensive!

To make things a little bit easier, here are 9 simple ways you can start saving money on your groceries.

1. Go with a List:

Yes, I know it's a pretty obvious suggestion, but it's amazing how effective it can be. You purchase only what you need and avoid all the other yummy distractions of the grocery store.

2. Meal Planning:

Planning your meals in advance makes it easier to get your list together and ensure you buy only exactly what you need. You can get help with your meal planning at Dine Without Whine AND they actually put your grocery list together for you too.

3. Eat Before You Go:

Another classic tip. If you're hungry, you'll want to buy (and instantly eat) everything! Have a meal or good snack before you go to avoid impulse purchases.

4. Stock Up on Staple Items When They're On Sale:

If you see ketchup or your family's favorite sauce on sale, stock up. Or if it's a certain type of soup or frozen vegetable your family eats all the time, buy a bunch of it. As long as it doesn't spoil and you have space to store it, you will save money in the long run. The nice thing about this is if you continue to stock up on a variety of items, you'll have a nice pantry full of food at any given time.

5. Cook from Scratch More Often:

Yeah, yeah, it sounds easier said than done, but it doesn't have to be too complicated. It's no secret that pre-packaged items and convenience foods come at a premium price. They save you time in preparation, but they eat up your budget and let's face it, time IS money. Plus, if you're using Tip #2 and planning your meals, cooking from scratch more often is a whole lot easier.

6. Comparison Shop Before You Leave Home:

No, I'm definitely not suggesting you go from store-to-store looking for the best deal. That takes too much time. Check the flyers that come to your door and see who is offering the best deals on what you actually need. If you don't have any flyers at your door, visit the store website as they generally post flyers online.

7. Use Coupons Sparingly:

Sure, coupons offer a great deal, but most coupons you'll find are for items you don't really need or use. Resist the urge to think, "Wow, that's a good deal" and search for coupons based on items you need to purchase instead.

8. Keep the Little Ones At Home:

If you have young children that want everything that they see, it's easy to get into the trap of buying items you don't need, treats that aren't healthy and become victim to other grocery store distractions. Keep the kids at home with Daddy (it's a good bonding opportunity) or a relative. You can even swap grocery store shopping times with your neighbor. Not only will you save money, but you'll save your sanity too!

9. Make Quick Stops for Fresh Ingredients:

This may not be easy if you're on a tight schedule, but if you can work it in, it can save you a bundle. One of the biggest culprits in grocery budgets gone bad is spoiled food. If your fruits, veggies and other perishable items are always going bad, consider shopping for them more frequently, but in smaller quantities and restrain yourself from buying items you don't need. If you have any teen-aged kids, this would be a great chore for them too.

There you go, 9 ways to save on groceries. But in order to make these tips work, you really need to have a plan in place. You need to know what your family needs and what you'll be eating. To make your meal planning a whole lot easier, sign up for you 1 ¢ no-risk trial at Dine Without Whine. You and your grocery budget will be glad you did.