Posts Tagged ‘Savings’

Free Money Your Trowing Away 401K

401 money

I work full time and my company offers 401k matching finds. It’s a benefit a lot of people don’t take advantage of this great retirement strategy. A few of the reasons a person might not take advantage of investing in a 401k including lack of knowledge, belief, or fear.

When I first started with my employer I had no knowledge it was an offer to me – lack of knowledge. After learning about the 401k I still didn’t sign up right away. I was fearful. I wasn’t afraid of free money – I was afraid of the lack the investment would cause in my weekly paycheck.  When a person lives paycheck to paycheck it’s often impossible to see beyond that next paycheck.

I had made the determination to change my view and face my fear.  I researched my company’s 401k program I invested it and I left it along.  Since signing up my small investment has grown substantially, my investment is up 22.18%.


My 14 Days Numbers


My numbers from the 14 day challenge:

Day 5 – What I spent

Entertainment: $0
Clothing: $140
Childcare: $0
Subscriptions/Memberships: $9.99
Others: $

Day 6 – What I plan to spend

Entertainment: $0
Clothing: $75
Childcare: $0
Subscriptions/Memberships: $9.99
Others: $0

Potential money saved: $65

Day 8 – What I spent

Groceries: $611.97
Restaurants: $79.62

Day 9 – What I plan to spend

Groceries: $500
Restaurants: $50

Potential money saved: $141.89

Day 11 – What I spent

Mortgage/Rent: $900
HOA: $0
Water: $77
Electric: $90
Natural Gas: $68.99
Cable: $0
Lawn Care:$

Day 12 – What I plan to spend

Mortgage/Rent: $900
Water: $77
Electric: $90
Natural Gas: $75.07

Day 13 – Money I saved with insurance


Day 14 – Potential money savings: $206.89

I had very little savings.  My cellphone bill is high there are five lines and a tablet; three of the cell phone lines have an equipment installment plan.  Two of the lines are not mine, they belong to my sister and niece and my sister’s line includes one of the installment plans.  My daughter’s line has the other installment plan, which she is responsible for paying.  I think I’m going to cancel the tablet plan that will save me $25 a month.  If I sign up for automatic pay will T-Mobile that will save me an additional $30 a month.  If I do both of these my potential savings will be $261.89.

5 Minute Saving Step – Automatic Savings Plan

Today’s 5 minute savings step is about automatic savings!  Don’t you just love that word, savings!  We all need to have an emergency plan set aside, but only 55% have more in savings then credit card debit.  So for today we are going to do one thing – set up an emergency savings plan if you don’t already have one.

My paycheck is directly deposited into my account every week – nice right.  Well I took five minutes to set 15% of my savings to automatically go to my emergency fund.  It’s an account I don’t use and won’t use unless it’s an emergency!

If you already have a checking account – see about opening an savings account in the same bank.  It’s important that you don’t attach it to your main account and that you don’t use it. If you have direct deposit  set it up so that it is automatically deducted from your paycheck, that way you’ll not notice it.


Happy Savings!

Chasing the BARGAIN – an addicts’ confession

Saving money has never come easy to me, after all I love to shop.  I also love to receive packages, it’s like a birthday or Christmas every time I get a package in the mail.  It’s the shopping online that I love, after all it offered no lines, convenience  and the ability to snag unbelievable deals.  The only problem was that it becoming an addiction.  I searched out unbelievable deals, many times for things I didn’t really need and sometimes didn’t even want.

My online shopping started off innocently enough at first.  I found myself searching out items to build a stockpile, then I started looking for clothes fr the kids, with four I really wanted to stretch my dollar as far as I could.  The small purchases, like 25 coupons for next weeks deal, or the new outfits for next season turned into six months supplies of toilet paper and paper towel.  The necessities soon became the gifts for holiday’s – Christmas, Birthday’s, Easter, Halloween Costumes, and of course the presents for just in case we get an unexpected invite to someone’s birthday!  I soon found myself signing up for freebies I didn’t need, telling myself I know someone who could use it.

I was caught in the thrill of the chase – chasing down a bargain, any bargain.  Being able to say I got it for free or pennies on the dollar filled me with excitement, one that it was hard to step away from.  It almost got my in trouble, not the financial trouble.  The kind where if I didn’t stop I would have become one of those people you see on tv, their house filled with tons of unopened boxes with no room left to walk.  OK, may I wasn’t that far down the road, but I feared I was really heading there.  I decided to stop.

I had to learn to say no to the chase, sounds easy, but it wasn’t,  not at first.  Anyone who knows what the chase feels like, the high of getting something at 90% off, can be like a drug.  It was a drug, my drug and it was easy to find the source for my next high, after all they emailed me constant updates of great bargains, as soon as they became available.  Before I had a chance to fall off the current feeling of incredible power,I was already on to the next fix, the next bargain.

What got me to stop?  I came home and saw all the stuff that was accumulating in my house and realized I was sick of it.  I was sick of the drawer full of dog food (I don’t have a dog, in fact I am highly allergic to them!)  I just wanted it all t be gone.  I told myself then and there it was time to clean up, literally!  I started by going through items.  Things that didn’t fit me or anyone in my house or my sisters went straight to goodwill.  The items for my sister’s house went quickly over there.

When the first cleaning was done, and things were reasonable, I set about with one simple rule.  For everything one thing I bring in that is not needed (I mean really needed), I had to get rid of five other things.  That one rule was really freeing for me, it was something simple that I could live with and I have.  As time has gone on, I have added more rules, but the have to be simple or else I just won’t follow them for long.

Happy Savings!