A Time For Everything

 

 

A few weeks ago, I listened to a TED podcast that posited that our spending habits can reveal things about us. They can tell others how we were raised, they can uncover uncomfortable truths about our inner-selves, or, at the very least, they can show the ups and downs of our lives.

The presenter of this particular TED Business episode, a woman I'll refer to as MA, was raised by parents who were always dressed to the nines. She picked up the habit. But then she read an article about how a year of no-shopping changed the article author's life. MA started thinking about her own shopping habits, specifically in regards to clothes, and how it affected her life.

After hemming and hawing, MA decided to take a one-year break from buying clothes. She says it was transformational. What she gained was money, of course, but also time and some clarity. She realized there were some emotional issues she'd been suppressing behind her shopping habit.

I couldn't really relate to the clothes shopping habit, but I am in favor of the no spending, so I dug up that article she mentioned. Here it is, if you'd like to read it as well.

Side note: My quest to reduce spending has more to do with looking ahead to retirement and trying to find extra dollars here and there to add to the investments portfolio than any need or desire to probe my psyche. :0) Although I'm open to discovering some insights along the way.

Anyway, the article struck a cord. It wasn't so much why the author decided to do it, but the rules she made for herself about what was okay to buy, what wasn't, and when she was allowed to buy even certain basics. (It was the lip balm part that really resonated.)

One rule was that she had to use up what she had before she could buy even everyday products. As an example, she'd bought and then quit using a bunch of different hair care products...so, now, before she could buy new, she had to use up what she'd stockpiled. Makes sense if you're trying save money or reduce spending.

I took that sentiment to heart.

I have to say, however, there are very few areas where I operate that way. But there is one. I'll give you one guess...

If you said hot tea, you'd be correct.

As I mentioned in last Thursday's post, I'm a sucker for a certain Brand / Flavor. But I do occasionally drink other flavors. Of late I've been trying to alternate caffeinated with non-caffeinated, which means I've been drinking a lot more store brand herbal peppermint tea than usual. But then I ran out. Of course I put peppermint tea on the grocery list.

And then I looked in the cabinet where the tea lives.

And I had a lot of tea in there.

I decided to drink through all / most of the other flavors of herbal tea I've accumulated before I buy more peppermint.

Another vice I have is reading. I'm still a huge fan of fan fiction, but I'd gotten back into the commercially published book habit over the years.

I spent over $130 on books last year! That was a surprise to me, quite frankly. And that's $130 that I could have invested into my retirement. One of those books was how to do just that and was money well spent. We've started that plan--hence the need to evaluate my spending habits and squeeze every penny out of out budget for the future. A comfort and ease with less spending and less stuff will also benefit my future self. (Don't look now--that might have been an insight...)

Back to the books--

A lot of the books I bought I might have been able to get at the library. On the other hand, libraries don't tend to carry a lot of MM romance and at least a quarter of my purchases were books from two of my favorite authors. I'm going to have to figure out how to fund the purchase of any new titles they publish this year if they don't end up in libraries.

Oh, wait, I have an Amazon gift card!!

I did take the time to renew my library card and got my OverDrive/Libby accounts activated so that I can check out e-books from OverDrive. OverDrive, if you don't know is the online e-book library. But you have to have a library card with your local branch to utilize it. And then it will only allow you to check out e-materials that your library or library system has available.

I can also search Amazon's free book listings and utilize Prime Reading as well.

So I'm well on my way to potential savings, but now how do I calculate and save that money? I guess whenever I have the desire to make a purchase and opt not to, I transfer the funds into my savings account...? I'm not sure. I'll have to ponder a solution to that dilemma.

That leaves one last vice. And here's where maybe the psychology aspect comes into play.

I like "stuff." And these days, I'm very susceptible to impulse purchases on certain things. Maybe that comes from the fact that for many years, especially when the kids were younger, we just didn't have the money for much of anything extra. So now that money has been less tight, I've been less frugal/strict/careful.

I have a lot of stuff now. More stuff than I need and, honestly, I'd like to get rid of some of my stuff. And sometimes I do. But then I see other stuff that's really cute and the temptation gets the better of me.

But it's time to downsize, get back to the decluttering, and quit with the impulse buys. I'm doing better. I suppose some rules might also help me make better choices. Perhaps a target to keep my eye on might help as well.

 It looks as though I have some work to do in regards to this challenge.

Take care and have a good weekend.

* * * * *

Here are a few of the articles I read regarding a no-spend challenge--what it is, why people did it, how thy did it...

https://mint.intuit.com/blog/saving/no-spend-challenge/

https://www.insider.com/no-spend-month-saving-money-experiment-2018-7#5-i-expected-to-fail-so-i-did-10

https://www.nytimes.com/2017/12/15/opinion/sunday/shopping-consumerism.html

https://www.gobankingrates.com/saving-money/budgeting/plan-a-no-spend-year-according-to-financial-experts/

https://www.motherhoodonadime.com/living/what-i-learned-from-a-no-spend-month/

https://www.moneyforthemamas.com/no-spend-month/

 

It's even Movie Monday, but I couldn't bring myself to watch a movie. Just had no desire to do so, so MM is taking a hiatus for however long I feel like it.

But Fort Worth Friday will return. Sonshine and I had our date yesterday morning and he wielded the camera, so who knows how the pics turned out. Kidding! I'm sure they're fine. I'll be sorting them this week and prepping for future posts.

I still have one last day of pics from Nashville, but I'm sorta tired of the topic, so I'll just post the link to the albums once they're up.

I spent a lot of time on research last week. Not for writing purposes, as I've shifted focus, but for life/financial and business purposes. First I decided I needed an accounting software package for my proofreading business so I Googled those. What I found, eventually, was budget software. Which, yes, I need for business, but actually caught my eye for our personal finances. Its philosophy is simple: Every dollar needs a job. It's easy to use once you get how it all works. It's a very short, barely there learning curve. It also offers a 34-day free trial.

So I downloaded the You Need a Budget software. Herein known as YNAB. All the features are available in the trial. It's not an online thing like Mint.com, though the files are saved into Dropbox and sync with any PCs and devices like smartphones you're gonna use. Very handy!

I added all my data. Figured out how to tweak it to account for all my buckets. That's a term hubby and I use to refer to a specific holding account for something. Like the grocery bucket. All funds designated for food, would be in the grocery bucket. It opened my eyes to how poorly I've managed our money this year. I was--I AM--very disappointed in myself.

I had big plans--as short a time ago as Thursday--for my proofreading earnings. But now I see that aside from the $100 per month I'm putting in a certain credit card bucket (on top of the regular payment plus the payment rolled over from the other CC I just paid off), everything else just needs to go into the main coffer to replenish the money that's been spent here and there on random incidentals over and above the budgeted allowable amount.Yikes!

So back to the drawing board. But now I have my own income that I earn outside of our other business. I feel so much more free and happy and in control of things than I did just a few short months ago. Amazing what a vacation and an attitude adjustment will do for you.

Hope you had a great weekend!!!

What one thing does Fort Worth have that no other U.S. city, save the capital, has?

Okay, I'm sure there are lots of things, but I'm talking big.

Give up?

A currency facility! Sounds a little anti-climactic, but we literally make money here in Fort Worth. Falling under the auspices of the U.S. Bureau of Engraving and Printing, our facility produces only paper money. No coins (which I believe involves minting, rather than printing) are created here.

Take a look at any paper money. If you see the letters FW printed in the lower right-hand corner, that means that bill was printed here in Fort Worth. Most likely your money will have that FW stamped on it--as well over half of all money printed is printed here. Did you know that 95% of the bills printed each year, whether here or in D.C. replace old, worn out bills? Also, the bills do not become legal tender until they are placed in the vault!

Sonshine and I went on a tour of the facility way back in 2007, I think, and it was very cool. They were still designing the new $100 bills at the time and had a lot of huge canvas curtains up to block portions of the printing rooms. A glitch in the manufacturing process was discovered in December 2010 and they had to stop printing the new bills for a while, but we should start getting the new one again some time this year.

It's been on my mind of late. More so than usual, though I'm not sure why. DH and I reviewed our finances at the end of 2011 and re-did our budget in an effort to put money aside both for emergencies and for retirement. The chances of Social Security being around when it's time for us to retire are slim and none, so we need to ensure our own ability to support ourselves.

Last year, 2012, was better than 2011. While our retirement fund holds exactly the amount it should, the emergency fund does not. But that's what it's for, right, to pay for life's surprises. Try telling DH that. He gets upset when we spend from it, but it's there so we don't get off the budget. It's there so we can pay the regular bills when we can't get our regular paycheck.

We did a minimal amount of paying down debt last year. Instead, we focused on establishing the two safety funds and making them a part of the monthly budget. Although, we did receive a health insurance rebate check towards the end of the year and I did, in fact, pay off a gasoline credit card. I took the payment from that credit card and rolled it over to another credit card, increasing the amount I have been able to pay toward it.

This year, my goal is to focus more on debt reduction, now that the safety funds are established.

A few weeks ago, I received money from the bank that holds our mortgage. That went towards this next credit card. I also filed some AFLAC forms for annual doctor/dentist visits and got money back. Guess where it went? Yeppers, to this same credit card. In the last month, I've been able to cut the balance in half. I have one freelance editing job in the hopper and when I get paid, that money will go straight to this CC as well. I should have it paid off no later than June. Woo hoo. That really makes me happy.

Once I've paid it off that money will roll over to the next credit card with the lowest balance. Unfortunately, with just this additional money, it's going to take fourteen months to pay it off. That's a bit more daunting, but if I get the Final Line Editor position with Samhain Publishing, then all that income will go towards eliminating this debt as quickly as possible. (My goal would be December2013 or January 2014 (as the due date is early in the month)).

After that, well, you get the idea.

I know there are other things I can and need to do, but I need to figure out what and then how. Any suggestions would be most welcome. (Just FYI, while we haven't cut them up, we rarely use our credit cards anymore. Mostly minor online things. Like my RWA membership.)

Sad to say, we exceed the average debt amount. And I'm trying to change that.

Wish me luck!

I'm band booster prez. First board meeting Thursday evening. Oh boy, oh joy. Speaking in front of people used to scare the shspit out of me. Thanks to two years as writing group chapter prez, I can do it with few qualms. Well, as long as the group isn't too large. And I know what I'm talking about. If I had to speak to, say, a Cowboys Stadium full of people, I might faint from nerves. But I digress...

Fulfilling my duties in this position is going to stretch me further as a person. I'm not really looking forward to it, cuz growth and change can be scary. But I knew the job was dangerous when I took it, but take it I did. For my kid. For the other band kids I'd grown to love last year. For the band director. And yes for myself. I'm a volunteer. I like to be part of a group. Sometimes, yes, I even like to be in charge. Even though I'm more of an introvert than an extrovert.

Now, I didn't seek out the job. The band director asked me if I'd do it. Last summer the co-prez died and his wife did not rise to the occasion and the band director ran the band on her own last year. It was a lot of work and pressure for her especially as she's also the primary care-giver for her 85-year-old mother who is somewhat incapacitated. I readily agreed to take it on.

And now my heartstrings are being tugged. Almost half these band kids can't afford or won't be able to pay their band fees. Now the band director doesn't turn them away, she waives the fees she can and the band booster picks up the rest. But that means we have to raise just that much more money to cover those costs. And now it seems our major source of income--the NFL--may not pull through for us. As long as the lock out goes on, there are no NFL games for us to work at Cowboys Stadium. Yes, there are other events scattered here and there at the stadium like concerts and soccer, but we never make nearly as much money. We average $1500 an NFL game times three or four time a month...

So I'm in "beg" mode. I've modified a letter provided by the band director and will be soliciting sponsorships for twenty-five kids. And that's just for marching season. Other things, including band trip scholarships, will come later.

So shameless plug, if you can spare $5 or $10 (more is of course welcome), please consider making a donation to the EHHS Highlander Band. Visit their website: www.ehhsmusic.org and the Paypal button is at the top. If you'd rather pay by check, make checks payable to EHHS Band Boosters and mail to EHHS Band Boosters, 5701 Shelton Street, Fort Worth, Texas 76112. And pass the word if you know of others who'd interested and willing in supporting the arts, but especially supporting the kids here on the east side in Fort Worth. (Thanks!)

And that wasn't even the point of this post! Oh well.

If you have ideas for how to raise money please let me know. Though, FYI, direct selling doesn't work well around here. We're having two car washes the next two Saturday mornings and the band director is thinking of doing a "movie in the parking lot". I have some ideas on how to expand that...

And now it's time to get some other stuff done!

Keep cool!

(Update on new roof and writing room soon.)

Well, for starters, I am sick. It's been quite some time since I have said that. One of my mottoes is "God never gives you more than you can handle." For months I have been stressed about many many things, primarily finances. But I have not been sick. Oh, the sickies have tried to get me, but I fought them off.

Sunday, I started feeling the onset of the sickies and I fought as hard as I could, but the sickies won this round. However, yesterday, we received a huge check for some forensic work hubby did last month. That allowed us to get pretty much caught up on all the bills. So now, I can be sick and not have to worry about money. At least for another few weeks.

As for me, my Robin Hood fandom is quiet at the moment, although we are gearing up for a couple of events. My writing chapter will be e-mailing out contest entries to judges (of which I am one) so I'll be judging those here shortly. I am on schedule with my one-episode-a-day Robin Hood rewatch and have jettisoned through the first four and half seasons of Stargate Atlantis, too. Gotta love John Sheppard--a man in uniform with a gun just really thrills me for some reason. I have hooked up with a gal in Florida that I know from my RH fandom for online writing accountability. We check-in on Tuesdays with word counts. The goal is 2K a week.