Money Reasons

Smart Reasons to Save, Use and Invest Money

Posts Tagged ‘saving money’

Improve Your Lifestyle By Creating a Personal Food Budget

October 14th, 2011

I have a confession to make, I eat out way too much. And it’s mostly fast food, which makes the matter even worse.

Overweight

I’ll have short periods of time when I don’t eat out because I’m trying to save money or loss weight, but it typically seems that after a month or two I return back to my old habits and driving to the local drive-thrus, again.

I would like to say that I’m stopping, and this is the end of this trend, and I’ll never eat at a fast food restaurant again… But I know that’s not true, I will eat at a fast food restaurant again, especially if I’m crunched for time.

So what is a fast food junkie to do?

Creating a Personal Food Budget!

Synergy is a word that I heard back in college which means that the the combination of the parts is greater than the counting of the parts independently. You may have seen it defined as 1 + 1 = 3, basically the idea is that elements combined together is stronger or more efficient than if the elements were just grouped separate. And excellent physical example is the alloy metal “steel”.

So, I’ve decided to create something I’m going to call a Personal Food Budget!

In my Personal Food Budget, I’m going to track what I spent on the food I consume (like any other type of Spot Budget), but I’m also going to track what I eat as well. Now the “Personal” part of the title is obviously, I’m just doing this budget for me personally! So I’m not going to track my family spending habits (besides they all look great, I’m the weight offender).

With this “Budget“, I’ll track my food costs and also my weight readings for some type of repeating time period (probably weekly and monthly). I’m not going to track calories (too much trouble), and once I reach a certain weight range I may stop recording my weight and just focus on the costs of what I eat, and if I eat out or not.

I decided that I’m not going to record this budget on paper, instead I’m going to do something online. It may be as simple as a google spreadsheet, or you may see a new feature on my blog that will enable me to create something new.

Why a Personal Budget?

My Personal Budget is definitely to lose weight while keeping costs under control, but also because it would be simpler than going all out with a full budget. If I make the process accessible from anywhere by keeping the data entry online, I’ll be more apt to record the information instantly. With paper I might forget the costs of what I ate (who wants to remember those details anyway… it would be a waste of a memory).

Keeping it personal, means I don’t have to badger my wife and kids to determine what they eat. Plus, as I said above, they look great (athletic really), so a Personal Budget won’t hold as much value for them.

If I find the process is very successful for me, you might find that I open it up for everybody to use. And expect a few simple recipes that I might discover along the way!

Have a great weekend!

MR

25 comments »

Posted in Weight Loss

Tags: affordable dienting creating a new lifestyle dieting getting in shape improving your lifestyle by eating better and saving money personal food budget saving money saving money on eating saving money with a food budget

Money Saving Tips For The Summer

August 6th, 2011

In the current economic climate, most people don’t have as much spare cash as they would like. Indeed, debt management is a pressing issue for many families. If you want to make the most of the summer without overstretching yourself financially, there are plenty of things you can do. Reducing waste and taking advantage of the warm weather can save you money in a variety of ways.

Electricity and gas bills should always be lower in the summer. There is no need
to have your heating on at this time of year – if you do get cold in the evenings, simply put an extra layer on. If you’re too warm, on the other hand, try opening some windows before you resort to using fans or air conditioning systems. Also, make the most of the longer days by turning lights off and letting the sun illuminate your home. Making sure you’re on the best tariff for the amount of energy you use will also help keep your bills to a minimum.

One of the greatest pleasures of summer is, without doubt, the food. You can’t beat a lazy picnic in the park or a barbeque with friends and family when the sun’s out, but this isn’t always cheap, and there is always potential for waste. If you’re having a barbeque and you’re inviting lots of people, ask everyone to RSVP so you know exactly how many people you’re cooking for. You might also want to ask people to bring their own dishes such as a salad or dessert. However well you plan, there will probably be some leftovers, so use them imaginatively. In the long term, it’s cheaper to invest in a proper barbeque, rather than buying disposable ones.

During the summer months, you can also save money on transport. If you can get somewhere on foot or on a bike rather than using your car, you can cut costs and get a tan at the same time. If you’re heading to the seaside or somewhere else for a day out with the family, consider taking the train instead of driving. It may well prove less stressful, and you’ll get to take in some interesting scenery along the way. If you do need to use your car, ensure your tire pressure is correct, and improve fuel efficiency by keeping an eye on your speed.

If you haven’t arranged you’re summer vacation yet, why not consider a ‘staycation’? Instead of spending money traveling abroad, you could rent a cabin for a week or go camping. Make the most of the natural beauty on your doorstep – there are probably some amazing spots you’ve never even thought of visiting before. If you do decide to get out of the country, use price comparison websites to find the best deals on flights and accommodation. Don’t let your summer be ruined by debt problems – start putting these money saving principles into practice today.

This guest post was brought to you by Joel

Cheers,

MR

No comments »

Posted in Frugality

Tags: money saving tips saving money

Saving Money By Legally Using Your Employer Resources

April 12th, 2011

Saving money by using your employer’s resources is both smart and legal.

Today I thought I’d challenge myself to think about the ways to save money using employer’s resources.

Company Resources

First, it’s possible to save money by using your employer’s heating and cooling system. Just enjoy the mostly perfect temperature at work and turn your heating/cooling system down or off at home either by manually doing so or via a time controlled thermostat. Think about it, why heat or cool the house for the plants? They’ll be okay, they told me so, at least as long as it doesn’t get too hot or cold.

We always have software installs or vendor visits and they often bring bagels and coffee, or coffee and donuts from places like Panera and Dunkin Donuts! Occasionally, my company has client site visits! After these visits they often have left over club sandwiches and other goodies! Every now and then pizzas will show up in the break rooms. Yep, it’s possible to save a lot on food for lunch if you want.

Next, use their electronic technology! My employer gives their employees both laptops and cell phones so that we can be very responsive at a drop of a dime. That said, most of the time, I use the laptop at home for my own use. And as for the cell phone… why buy my own when I can use the one provided from work for free? My son likes to play the games on it, so he benefits too.

Why buy a beverage while at work? My employer provides coffee, hot chocolate, cappuccino, tea and filtered water. I use those single serving packets of Lipton white tea or crystal light when I want to add a little flavor to the filtered water. It beats buying pop (soda) or a latte, at least from a cost perspective! I even know one guy that fills up a big water container before he leaves for the day.

Lesser Ways to Save Money

Use their electricity for listening to music and other uses.
Some peers use the electricity at work to charger their electronic device batteries. It’s very clever of them, plug it in and since you’re there anyway, you can watch it and unplug it at the proper time. No more overcharging!
Need computer works? Go to the smartest technician and plead for help! This can save you hundreds of dollars!
Take their toilet paper when they aren’t looking (not really, but I thought I would add this as a joke, ha ha).
I know one guy that uses company paper to prints personal stuff to the printer. Like materials for the kid teams that he coaches. I don’t do this because this greatly frowned upon. It’s kind of funny that the least expensive thing is what is frowned upon the most…
We have a shower in the downstairs men’s room and I know that of some joggers in the company use it in the morning after they’ve had their run. Why shower at home in the morning when you can run in the morning and they get a free shower at work. If you have a lot of members in your family, this could be very convenient! Plus, no more cold showers.
We don’t have a company gym, but if you do have one… why buy a gym membership?

Of course people also use company folders, paper, notebooks, pens, pencils, paperclips and even batteries for personal use, but I didn’t include these since this type of using company resources isn’t legal.

What ways do you save money by using your employer’s resources, or do you feel guilty doing so?

-MR

Please subscribe to my RSS feed so you can check out new articles when they become available. You will help this blog grow by doing so! Thanks!

24 comments »

Posted in Frugality

Tags: company resources legally gaining personally using company resources saving money saving money with company resources using company resources

Thinking Before Paying To Save Money

March 11th, 2011

All to often, we don’t really think before paying for our purchases!

I’ve been guilty of this too! I use to get a bill in the mail and just write a check and mail it in. But today, I’m here to tell you that this is not the best way to go about paying bills, and I’m going to explain a better approach towards your bills.

Thinking Before Paying

When a bill comes in, you should ask yourself “Is this bill for the best service and price for this particular service or purchase?”

A great example would be bills from insurance companies. Every few years, you should go shopping for a cheaper price for your various insurance needs! We routinely jump to different car insurance companies. This saves us hundreds of dollars versus just sticking to one insurance company.

We do this because most insurance companies know that you don’t want to go through the aggravation of switching companies, since it’s a bit of a pain! So over the years they raise the fees on you more and more, effectively milking you for all they can.

I actually hate to change car insurance companies, but doing so will save me hundreds of dollars… so I do it anyway!

After a while, you kind of get familiar with the process and it does get easier each time you do this rotation!

Charging To Save Money

First let me start off by saying that I pay my credit cards in full each month. Okay with that out-of-the-way, when possible, I like to charge expensive bills to my credit card(s) as much as I can!

Why?

I only have reward credit cards, so this give me an instant discount on the purchase price whenever I use it! While 1% or 2% isn’t a huge discount on the cost of the product (or service), every little bit helps.

If you put some thought into it, you should use certain credit cards for certain purchases. I say this because some credit cards provide higher reward points for certain types of purchases.

Thinking Outside of the Box

First, do you really need to make that purchase? Why not try to find alternatives or try repairing the item that you are thinking about replacing?
Next, can you buy used (ex. cars), that could save you some big buck on high ticket items like automobiles!
Have you check out freecycle.org? This is a no brainer if you are aware of the site’s existence.
Check out eBay, Craigslist and other online sites for deals.
Can you borrow the item (like an edger) from a neighbor, family or friends. Doing this is especially good from a tool to accomplish something that is needed very infrequently (again, the edger is a perfect example).
Can you use your credit card reward point for the purchase?
Buy the item at deep discounts or when special are going on.
Haggle if possible… I couldn’t hurt!

I see so many friends buying at the wrong time of the season (don’t go coat shopping at the start of winter) and on things that aren’t really necessary.

I would advise mulling over a purchasing decision on something you want to buy for at least 1 week if possible. During this mulling week, try to think of ways you can get it for free, or reduce the cost of the item. You’d be surprise what solutions you can come up with or comes your way.

-MR

Did you like this Article? Then please subscribe to my RSS feed so you can check out new articles when they become available. You will help this blog grow by doing so! Thanks!

17 comments »

Posted in Planning

Tags: don't pay full price get it for free save money saving money saving money by thinking first Think before your purchase

Draining My Hot Water Tank To Save Money

January 2nd, 2011

Draining Hot Water Tanks To Save Money

Hot Water Tank

Okay I confess, I’ve never drained my hot water tank at all. I’ve lived in my house over 11 years, but I just didn’t pay attention to such details. The problem is that sediment settles at the bottom of the tank, and over time this sediment make the bottom of the tank thicker. This in turn means that the flame at the bottom of the take becomes less effective at heating the water because of the thickness.

While I don’t advise this task for just anyone, I did successfully clean out my tank today. This can be a dangerous task, so you don’t want to be drinking and/or take the task lightly! In fact, I don’t know if I’d really recommend doing this to many friends, just because of the risks involved if keep your wits about you!

Steps to Drain My Hot Water Tank:

Turn off the water to the water tank.
Turn off the main gas to the water tank.
Turn off the gas at the gauge that controls the flame to the water tank.
Attach a hose to the release facet, and put the end of the hose in a drain (I put my half a foot into it).
Put a bucket underneath the pressure release valve and tube.
Release any access air via the pressure release valve.
Open the facet so that the water drains.
Go upstairs and turn on the heat facet (nothing should come out, and air should go down to speed up the draining of the tank process).
Fully draining the tank may take 1/2 hour, the time really depends on the size of your tank.
After the water stops flowing, close the facet and carefully take off the hose so that water doesn’t go everywhere.
Turn the water back on
Close the facet upstairs
Turn the main gas valve back on.
Make sure you don’t smell gas near the pilot light.
Next light the pilot light that way that your water tank recommends. Once my tank, I had to remove the sheet metal panel, turn the dial to where it says pilot light and push down and hold it while I lit the pilot light stem.
Next I slid the shield back on and went over everything one last time just to make sure I didn’t miss anything.

So how does this activity save me money?

Draining the tank may prolong the life of the tank itself, and this will save me money!
Removing the sediment means I can turn the hot water heater to a lower setting, and that will save me money too.

This is a great task to get out of the way for the new year. While not very exciting, it’s still important.

Update: I opened up the hot facets upstairs at all exit points to make sure that all the sediment is out of the system too

-MR

Did you like this Article? Then please subscribe to my RSS feed so you can check out new articles when they become available. You will help this blog grow by doing so! Thanks!