A lot of personal finance folks like to talk about not being penny-wise but pound-foolish. In other words, don’t worry so much about the small amount expenditures – focus more about the bigger amounts. While it is good advice that means well, I say, why not do both?

I’m a big proponent of looking for ways to spend less money, be it large or small amounts. When I’m shopping online, I will go out of my way to look for any coupon code I can get. I often use a high-reward credit card that pays me back 5% on purchases made at our grocery store. And, I’ll also look for ways to save on our recurring, bigger expenses like auto and home insurance.

So, I love to save.

Many of these cashback apps promise big savings but under-deliver. I admit that I was a bit skeptical about first using the Upside app. I didn’t think I would save a lot.

My experience so far with Upside

I started using the app in late May of 2021. I heard a lot about it – most specifically on the radio. It seemed a Upside app commercial was playing every time I got into the car! So, I thought I would give it a try.

Early on, they were offering a nice reward to sign-up. And they still do. For most new users, they can get an extra 20 cents off per gallon of gas. That’s pretty good right now with rising gas prices.

Upside started in 2016 and offers discounts on three everyday purchases many of us make:

• Grocery
• Gas
• Restaurants

And, if you combine Upside with a credit card (or debit card) that offers extra cashback, you can really score big. Since using the app in May of last year, I have earned over $105. That’s not bad for purchases I was planning to make anyways.

Plus, I have gone to a few new places I might not have frequented. I think that is one of the missions behind the app. To get people to spend at places they might not have.

I recall at one restaurant last year, the savings was 30% cashback! That’s unreal. While the savings can fluctuate, many stay over 10% savings.

How does Upside work?

It’s really easy to use the app. Depending on the retailer, customers just need to select the credit card they are planning to use (preloaded on the app) OR scan in a receipt of the purchase. In a day or two, you’ll see the cashback added to your account.

You can cash-out at any amount to your bank account, Paypal or at different retailers (like Amazon) through a gift card. I’ve cashed my money out via Paypal and have thought about using the funds to buy stocks (talk about doubling, maybe tripling the money!).

An added bonus of referring new people through your personal code is that you can earn money back from their purchases of gas! And another bonus is the service sometimes does special offers for money. One time, they asked users to make a gas, grocery and restaurant purchase within a 10-day window and they’d pay users $25. Now, that’s motivating.

Since the grocery store we frequent isn’t yet offered through Upside, I know I could earn a lot more from using the app. I have one friend I’ve referred to Upside who within a month had earned over $100 because he was using it at his grocery store.

What’s your experience been with Upside?

I’m interested to know what you think of the app? Like I mentioned, I’ve been using it just over six months – but I have enjoyed seeing the cashback added to my account and the extra savings that I could only get by using the app. How have you liked it?

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Everyone has bills to pay of some kind. Unless you’re a child, freeloading off your parents / or (unfortunately) cannot work due to health reasons. The ideal is to ensure that every month you have more income than your expenses.

I’m writing to individuals who are struggling or want a little assist when managing their finances. When I first was trying to get out of debt, I needed a framework for how to get my financial life back in order. That’s when I became aware of Total Money Makeover by Dave Ramsey. Ramsey is great if you are new to money matters / or struggling to get any traction with your debt / finances. I read his book in about a week when I first got it.

Generally, we all have two types of expenses: fixed and variable. Those fixed expenses you can expect to make every month and they rarely (perhaps once a year) change. Examples are: mortgage, electric bills, gas, phone, ie. The variable expenses can fluctuate and are harder to get a hold on. These can include: food, medical, gas, charity and even savings.

The goal will be to reduce those both of these expenses to put more money into savings and investments. If you’re just squeaking by, something needs to give.

Ways to reduce expenses

I want to share some of the ways in which I lower my expenses. Sometimes I will take aim at my fixed expenses every 6 months and yearly – just to be sure I’m not overpaying on things. Other expenses, I’m more routinely looking at to lower.

So after I’ve taken a look at my Excel spreadsheet at the end of the month (or year), I will see where my greatest expenditures are. For us, they exist in our food and health category. For many of us (like my family), you could have higher expenses in – let’s say – in the health category because you have a member who has a lot of health issues. This is something that is unfortunate and out of our control (to a greater extent). Your focus may be on trying to increase your income to keep up with those expenses. For some, this may not be feasible due to the amount of money being allocated to health-related issues. I hope to write more on this in the future – but for now, know that I understand your pain. It is one issue that is often neglected in money management articles / books.

After you assess where your greater expenses are, seek to reduce them. Here’s some practical ways that I go about attacking our expenses:

• Cell phone bill. If you are paying more than $30 for your cell phone today, you are likely paying too much. There are a multitude of affordable cell service providers out there to help you save on this expense that is a fixed expense for many and has replaced many people’s home phone. One provider I use is called Tello. They are a MVNO (Mobile Virtual Network Operator) who buys “space” from the bigger networks and then resells it for less to customers. Other networks include Ting, Consumer Cellular, and Twigby. Looking at my bill with Tello, I pay $10.95/month for unlimited text / talk plus 2GB of data. This is more than enough for me as I work remotely and use the WiFi when available. I also don’t travel a ton, so it isn’t paramount that my service is 99.999% perfect. MVNO’s have gotten a lot better from when I first started using them and are hard to differentiate between the big networks.
• Insurance. With the internet, there are so many ways you can assume the advantage of a knowledgeable consumer. You aren’t beholden to your insurance agent or other middle-men. You can go direct to the source and seek more affordable options using online services that “broker” for you. I recently reduced my auto and home insurance by over $700 per year, after my agent of many years (who I do appreciate) said they weren’t able to realize any new savings for me. So, I went online and found Gabi. After answering some questions and uploading my current insurance declaration documents to the site, a representative reached out to me with several options for insurance. Now, I do think this is where having an existing relationship with an agent can be vital. You want to ensure the offer Gabi is giving you is an apples to apples comparison. While that is their aim – there were a couple items left off, my agent caught when I showed her the new offers. While Gabi offered these other options, my agent was also a partner with the new provider and was determined to offer a similar package for me. So, I decided to stay with our agency over going with Gabi’s offering. But, it was still important to get a baseline for a better offer. You can go with Gabi to see if what you are currently paying OR your existing provider may wish to offer something comparable. One disclaimer: paying less on insurance is not always better – especially if it is an unheard of insurance company or your getting less than what you have currently. Insurance is one of those things where you are grateful it is in place when you need it.
• Utilities. Are there ways in which you are paying too much for your utilities? Or, you may even have a water leak in your home (leaky faucet, ie), which is costing you. While utilities are harder to negotiate with, you can affect what you are paying monthly by doing some diligence in ways to reduce your electric and gas bills. One is using LED bulbs (which tend to last longer) and purchasing more energy-efficient appliances. Another idea could be to install a smart thermostat would could more effectively run the temperature in your home.
• Transportation. If you’re in a city, getting around could be a lot cheaper than if you are living in a rural area. I have a friend who lives in the heart of the city and rarely uses his car, opting for public transportation or is able to walk to most of the places he needs to. There are pros and cons to living in the city vs suburb (or rural). But we spend a lot on transportation – especially if we are financing our vehicles and driving a lot. This past year (through an unfortunate event of losing one vehicle to poor maintenance – ahem), my wife and I went down to one car. One reason was due to going to remote work full=time. But we are now paying for one car’s fuel / insurance vs. two. We’re grateful we also bought the car used from a private party, so we don’t have payments. I love to drive – so reducing some of my leisure trips has been something I’m striving to do as well. This also pertains to auto insurance, but one thing you can look into is asking your insurance provider to send you a smart device that collects data on how you drive. This will lead to reduced rates / but it is more intrusive as the device has visibility on all your driving habits (even how fast you speed up at stop signs).
• Food. Just over the past year / two, we’ve seen prices creep up on almost everything – including food. I don’t believe that food is something you necessarily want to skimp on as eating well, is good for your health (and future medical bills). However, there are a lot of obvious ways to save, including storing food and coupons. Plus with the smart phone age, there are apps that allow you to save even more on your grocery trips. One is called GetUpside. After checking in to the app, you’ll be able to see some of the participating groceries in your area. They also offer cashback on restaurants and gas in your area. Since I signing up this past summer, I have earned over $100 in cashback rewards (you can cash out the rewards to your Paypal or bank). Also be sure to download your grocery store’s app if it is available for further savings. Since a lot of our food shopping is at Whole Foods (often called, “Whole Paycheck”), we use a credit card that offers an additional 5% cashback on each trip. I don’t advise using a lot of credit cards if they have been an issue for you.

Of course, these aren’t the only ways you can reduce your expenses. I’d love to hear ways in which you are saving money too! In a future post, I would also like to write about how to increase your income.

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In the years since, hundreds of studies have backed up the idea that when attention is occupied with one thing, people often fail to notice other things right before their eyes.

This excerpt was taken from an online article at Scientific American. It details the fact that our minds are very powerful forces in being able to selectively focus on one thing at the exclusion of another.

We often fail to see things which are right in front of us. A simple example of this is our noses that we hardly notice. And, it’s right in front of us.

Many of us focus on the wrong things

For many years I have wondered why some people are so good with money while others are not. It’s perplexed me. And I understand that it is not simply one thing over another. There are a lot of factors at play here:

• Environmental
• Family of origin
• Education
• Willingness
• Personality

… just to name a few.

Still I think there is also something else at play here that gets largely unnoticed (even if it is right in front of us): our ability to selectively focus on things that we deem more important. Scientific American called this: unconscious selective attention.

For those who are deep in debt, their focus is in the wrong place.

Personal story

For me, I spent years with this selective attention. For years, I spent money I did not have because my focus was on maintaining the lifestyle that I had (even though I couldn’t afford it).

I believed that the next big job was around the corner and my debt would be paid off. It was a kind of denial that kept me in the dark about how bad my situation had gotten.

One day I awoke to nearly $20k in credit card debt and no one to blame but myself.

In essence, I selectively focused on things things which were less important at the exclusion of something (debt / money-issues) that were driving me to financial ruin.

We often need a crisis to change

I’m convinced that a personal crisis propelled me to take stock of my finances and get a handle on things. It wasn’t until that crisis hit that was I able to fully change my focus to the problem that was right in front of me – but I had failed to address.

With my focus put on the right thing, I was able to make the changes I needed to make in my financial life and redirect my life’s path to financial freedom.

And while I still struggle with money-related issues from time to time, my attention is in the right place and I’m able to see that which had blindsided me in the past.

What caused you to address your debt? If you haven’t had a crisis, what do you think it would take for you to change your focus?

What’s most disturbing is that credit card debt is continuing to climb and is almost at the peak reached (per person) in 2008.

Here’s a look at total US debt by individual

What could be contributing to the debt love affair?

With many American’s owing money on their homes – to the tune of $173k each – mortgage debt contributes to a great debt burden for American families. Much of their paycheck is devoted to keeping the roof over their heads.

The NerdWallet report also makes note of the fact that while American’s income has risen 28% over a 13-year period, expenses have outpaced that growth. Case in point: medical costs increased by 57% and food and beverage prices by 36% in that same period.

Added to that, there have been increased expenditures like cell phones, internet and streaming services to name a few that have become new expenses for the average American.

Still, we have yet to embrace a more minimalist lifestyle of living within our means and spending less than we take in.

What can be done?

It’s important to note there are no quick fixes when it comes to getting rid of debt. Many people find themselves in some really trying situations that are beyond their control (like family or medical issues).

We recommend a process for finding your way back to debt-freedom that (while not a quick-fix) is easy to follow and implement.

It involves:

1. Finding purpose outside of yourself
2. Accountability
3. Reducing and increasing
4. Saving and giving

At work you may hear the salesmen next to year saying God bless you and coming up with new doggy day care business ideas after he came up with the other 15 business ideas. The problem with the guy is that he is filled with ideas but cannot rub two nickels together. If you want to go for broke that is not the issue. The thing is you need to build up a sound financial standing before trying to attempt these things. If you are stuck with the power off because you haven’t paid your Constellation Energy Bill you can not go around spitting out ideas for business thinking your on to something. Nobody will take you seriously if you haven’t had a proof of concept in life or in business.

There are ways to raise money that can help you to get ahead. If you play scratch offs and the lottery you can sell your winnings off for a lump sum to a company like 123lump sum alternatively these type of companies also give you inheritance loans against your “rich” uncle or personal structured settlement injury annuity that a lot of those in debt tend to have. You can take out a loan against your future paycheck but this is always detrimental and we have never ever heard a success story.

The best solution is sound financial savings, hard work even if that means taking a second job if you need to do that to ensure survival and to build up your savings. To build a business and make a run for a Shark Tank appearance involves willing to go broke and deeply into debt but you need to establish a base to get there.

From stocks to bonds to real estate, investments intended for the future can be used to fix a current financial hardship. It is important to note, however, that cashing in on these investments may result in higher taxes or early withdrawal penalties.

In general, home mortgages and student loans funded by Sallie Mae are considered “good debt”. A home can increase in value, and student loans are an investment in an education, which will hopefully increase earning power. Any debt associated with a car is normally viewed as acceptable, but “bad debt” arises from excessive credit card use.

If you have only been making the minimum monthly payment on your credit card with the highest interest rate, paying off that balance is now your main priority. On high interest rate credit cards, more of your monthly payment goes towards the interest, rather than the principal. Over a long time period, only paying the required minimum can result in interest charges costing more than the item(s) you originally purchased.

Depending on the return of your investment, you may not be able to fully pay off your credit card with the highest interest rate. If that is the case, determine which of your credit cards has the lowest balance, and pay off that amount. Once that debt is paid, limit your remaining credit card(s) to emergency use only, and pay more than the monthly minimum to help erase the larger debt as quickly as possible.

The selling of an investment to get out of debt will only achieve its intended purpose with proper planning, a commitment to responsible spending, and the sincere desire to become debt free.  Everybody has a different reason for why they need to sell an asset to cover up their debts.  The important part is making sounds financial decisions as this year winds down and a new one begins.

Paying off your debt and piling on more debt is not a full proof solution in any year. Let this year be the  one that lets you break away from your financial burdens of yesterday.

Having a side job is one thing that I strongly recommend. There are many different things you can pick up for side work from part time jobs to doing something that you love and then turning it into a service / product for others.

I also advise to ask your boss for a raise OR find a different, higher paying job.

US News and World Report just announced some of the best jobs of 2014. Here’s some that topped the list:

1. Software developer
2. Computer systems analyst
3. Dentist
4. Nurse practitioner
5. Pharmacist
6. Registered nurse
7. Physical therapist
8. Physician
9. Web developer
10. Dental hygienist

It’s no surprise that tech and medical jobs headline the list. Some of the more surprising jobs that were on the top 100 list provided by US News were:

• Nail technician
• Meeting, convention and event planner
• Bill collector
• Exterminator
• Glazier (glasswork)

I’m a little surprised that public safety jobs weren’t on the list as there are many employers trying to fill security jobs, along with work for the US Homeland Security programs.

Any you thought might be on the list that weren’t?

How to save money

Saving money on vehicle coverage policies is a brilliant idea, which is common thing among many people. You can save a lot of money if you insure several cars with the same company under the same policy. Many companies offer many car discounts, which helps you to save a lot in premium. You save more if you have a safety device installed in your vehicle. Many providers offer some interesting discount packages for example, air bags discount and anti theft, devices discount.

Selecting a good company

When looking for reliable companies the first thing that you should look out for is the company’s consumer base. A reliable company will have high levels of consumer satisfaction, additionally, look for a company that provides its services round the clock. This means that a customer can check in at any time and be served, for instance, one may need advice on a weekend. Another important attribute to consider is the time the company takes to settle claims. Look for a company that acts swiftly, and effectively to resolve customers’ problems.

Get quotes

Today you can get quotes easily from online companies. It will take only a few minutes to get one at no cost. You can compare these quotes with the other different companies and pick the one that has low cost but ensure that the provider has a good reputation.

However, do not take it for granted whatever the online company offers. The low rates should correspond with good coverage policies. You will find that some companies will provide low quotes, but everything else in the policy is also low. The coverage in offer might not cover most of the important things, hence the need to be careful about your choices. Low cost insurance deals tend to fool may people.

When getting a low cost coverage for your car, your driving record, type of car, gender, and credit scores matter a lot. If you have a bad driving record and low credit scores the company might not be in a position to get you a low cost coverage. This means that you play a bigger role in getting the low cost policy.

• Reduced income: When your expenses exceed your income, you are likely to fall into debt. This is because you are likely to experience delays in paying your bills. With a lower income, you can be sure of getting into debt. Therefore, it is important to understand and control the change in income, to create a plan and budget that takes into account the plan as soon as possible.

• Underemployment: In most cases, employees feel that underemployment will last for a short time. However, it can have lasting effects on your life. This is particularly the case if you have to take a loan to make ends meet. Therefore, if you are underemployed, you should consider calculating your expenses even as you consider looking for a second job. This will help you cushion your chances of falling into debt.

• Credit card: A credit card, when poorly managed, can result in people getting into large debts. The cards usually generate a situation where people spend beyond their means. Therefore, to avoid accumulating debt through credit cards, experts strongly advise users to thoroughly understand the terms and conditions of the credit cards they are intending to apply for.

• Poor money management: Many of the times, a poor budget invokes debt. Therefore, it is important to have a monthly budget. Without having in place the right budget, then you will not be in a position to track down your expenses. When you take the initiative to list down how your spending will be for the entire month, then you will be in a position to know exactly how the money ends up. This offers the best way for determining where you can cut down on some unnecessary expenses. This will play an important role in avoiding debt.

• Divorce: This is not an economic factor but it may play a significant role in debt occurrence. Many marriages are ending up in divorce. The divorce comes with a strain on one of the spouse’s personal finances. In some divorce settlements one of the parties can demand a lot enough to force the other party to go into debt.

Irregular or non-payment of bills or debt can jeopardise an individual’s credit rating and affect their credit score. Every time you miss a bill payment deadline or fail to pay your credit card, home or car loan debt, your credit score decreases. This makes it more difficult to get a loan in the future. Individuals and businesses with poor credit rating also have to pay higher interest rates on loans.

How to Improve Credit Rating

Credit is one of the great ‘enablers’ of modern life. It enables people to purchase items they might not be able to pay for out of their pocket, take out loans for expanding a business, or pay for a college degree. Understandably, improving credit rating can have a dramatic impact on your quality of life. It can enable you to pay for a degree, a car, a home or even a pair of shoes at lower interest rates.

Knowing how to improve your credit rating is a matter of taking responsible financial decisions. If you don’t have a top credit rating the easiest way to improve credit rating is to take out money on a bad credit, credit card and pay off all accrued debt on time. Experian and Equifax monitor all financial transactions and your credit rating is more likely to improve over time if you make regular payments on your credit card debt. It is a slow process that can take months and even years, but it is the best solution to a financially healthy life.

Credit cards for bad credit like aquacard are designed for people with poor credit ratings. Debtors who have been rejected by other credit card providers have a higher likelihood of getting approved here. Aquacard offers multiple solutions for people who want to effect a change in their financial condition with APRs starting at low as 32.9%. Such cards are perfect for self-employed workers and freelancers who cannot show regular income, individuals who’ve had County Court Judgements (CCJ) for debt, and for low-income individuals like homemakers and retirees. Students who want to build their credit history can also benefit greatly from an aqua credit card.

Besides borrowing money on bad credit, credit cards, paying all outstanding bills on time will also help improve your credit rating and lead to a better financial life in the long term.