Black Family Green

Category: Budgeting & Spending

  • Budget-Savvy Ways to Furnish Your New Home

    Budget-Savvy Ways to Furnish Your New Home

    Introduction

    From finding affordable furniture to mastering the art of upcycling, we’ll cover every aspect of creating inexpensive and stylish ways to Furnish your new home on a budget.

    Explore practical tips for each room, discover multi-functional pieces that save space and money, and learn how to maximize your budget with strategic purchases.

    Whether you’re a first-time homeowner or simply looking to refresh your space, these budget-savvy ways to furnish your new home will help you achieve a beautiful, functional living environment. Get ready to transform your home without compromising on quality or style!

    Understanding the Importance of Budget-Savvy Furnishing

    Being budget-savvy is not just about spending less; it’s about making intelligent choices that provide value and longevity.

    Understanding the importance of budget-savvy furnishing helps you prioritize essential items, avoid unnecessary expenses, and invest in pieces that offer the best return on investment.

    This approach ensures your home remains stylish and comfortable while staying within financial limits.

    Setting a Realistic Budget for Your New Home

    The first step in budget-savvy furnishing is setting a realistic budget.

    Determining how much you can afford to spend and allocating funds to different categories, such as furniture, decor, and essentials, is a responsible and empowering step.

    Prioritizing essential items like a bed, sofa, dining table, and living room for unexpected expenses puts you in control of your spending. A well-planned budget helps you make informed decisions and avoid impulsive purchases.

    Programs like Amazon Prime can also save money on shipping and great deals to help you furnish your home on a reasonable budget.

    Researching Affordable Furniture Options

    Research is crucial when furnishing on a budget. Start by identifying affordable furniture stores and brands offering quality at lower prices.

    Look for sales, clearance items, and discounts. Read reviews and recommendations to help you find options that fit your budget and style preferences.

    When assessing the quality of furniture, pay attention to the materials used, the construction, and the overall condition. Make informed decisions and avoid purchasing items that may not last.

    Exploring Second-Hand and Thrift Stores

    Second-hand and thrift stores are treasure troves for budget-savvy homeowners. These stores often carry unique and high-quality pieces at a fraction of the cost of new items. Take your time to browse, and don’t hesitate to visit frequently, as their inventory changes regularly. 

    Online Marketplaces: A Treasure Trove for Bargain Hunters

    Online marketplaces like Amazon, Facebook Marketplace, and eBay are but a few options for finding countless affordable furniture options.

    These platforms allow you to find gently used items at significant discounts. Constantly scrutinize items, ask for detailed photos, and don’t hesitate to negotiate prices for the best deals.

    Similarly, when shopping at thrift stores, you can always ask for a lower price, especially if the item has been on the shelf for a while.

    Maximizing Savings with Discount Furniture Outlets

    Discount furniture outlets are excellent places to find budget-friendly furniture. These stores often sell overstocked, discontinued, or slightly damaged items at reduced prices.

    While these outlets can be a great source of affordable furniture, it’s vital to inspect each piece thoroughly and ensure it meets your quality standards before purchasing.

    Some items may have minor defects or damage, so sifting through each piece is crucial to avoid unpleasant surprises.

    DIY Projects: Creating Custom Furniture on a Budget

    DIY projects are a fantastic way to create custom furniture without spending a fortune. From building your shelves to refurbishing old furniture, the possibilities are endless. Engaging in DIY projects saves money and gives you a sense of accomplishment and creativity. 

    Repurposing and Upcycling Old Furniture

    Repurposing and upcycling old furniture is an eco-friendly and cost-effective way to furnish your home. With some creativity, you can transform outdated pieces into stylish and functional items.

    For example, an old door can become a unique dining table or a vintage dresser can be turned into a chic bathroom vanity, adding a distinctive character to your home and inspiring your imagination.

    Essential Tools and Materials for DIY Furniture

    To embark on DIY furniture projects, you’ll need essential tools and materials. A hammer, screwdrivers, and a drill are must-haves. Additionally, sandpaper, paint, and wood glue will help you tackle various projects. Investing in quality tools and materials ensures your DIY creations are durable and well-crafted.

    Crafting Your Home Decor Items

    Creating home decor items is another way to save money and add personality to your space.

    From handmade candles and wall art to custom cushions and curtains, DIY decor projects can enhance your home’s aesthetic without the hefty price tag. Plus, these items make your home uniquely yours.

    The Benefits of Multi-Functional Furniture

    Multi-functional furniture is a budget-savvy homeowner’s best friend. Things that serve more than one purpose, such as a sofa bed or seating that also has storage opportunities, allow you to maximize your space with the need for less furniture overall.

    Choosing Pieces that Serve Multiple Purposes

    When selecting furniture, look for items that offer versatility. An excellent example is a dining table with extendable leaves, a bed with under-bed storage, or a desk that doubles as a vanity. Multi-purpose furniture not only saves money but also enhances the functionality of your home.

    Space-Saving Furniture Ideas for Small Homes

    Furnishing a tiny home requires strategic planning. Opt for space-saving furniture like wall-mounted desks, fold-out tables, and stackable chairs. These items help maximize limited space while keeping your home organized and clutter-free.

    Smart Shopping: Tips for Finding Deals and Discounts

    Finding great deals requires a combination of patience, persistence, and timing. Look for opportunities to subscribe to helpful newsletters from furniture stores to receive notifications about sales and discounts. Explore furniture stores you would not normally shop at since you never know how many great deals you might find.  Compare prices across online and in-store retailers to ensure you get the best deal. Don’t hesitate to ask about upcoming sales or additional discounts—many stores offer price matching or special promotions that are not always advertised.

    Timing Your Purchases: When to Buy Furniture on Sale

    Always be on the lookout for seasonal sales with various retailers and wholesalers.

    Don’t miss out on special sales during specific times of the year, such as holiday weekends, end-of-season clearances, and annual events like Black Friday and Cyber Monday.

    January and July are also great for finding deals, as stores clear out old inventory to accommodate new arrivals. Planning your purchases around these sales events can lead to significant savings.

    Utilizing Coupons and Promo Codes Effectively

    Coupons and promo codes are great tools for budget-savvy shoppers. Before making a purchase, search for available coupons online, and consider using browser extensions that automatically apply the best codes at checkout.

    Joining loyalty programs and signing up for email lists can also provide access to exclusive discounts and early sale alerts. Always read the fine print to ensure the coupons and promo codes are valid for your purchase items.

    Shopping Strategies: In-Store vs. Online

    Shopping in-store and online both have significant advantages. In-store shopping allows you to see and feel the furniture before buying, which can be crucial for comfort and quality assessments.

    On the other hand, online shopping offers a broader selection and the convenience of comparing prices from the comfort of your home. A hybrid approach can be most effective: browse online for options, visit stores to make final decisions, or vice versa.

    Making the Most of Garage and Estate Sales

    Garage and estate sales can be goldmines for unique and affordable furniture. These sales often feature items at a fraction of their original cost. To get the best deals, arrive early for the

    Sellers are more likely to lower prices to clear out remaining items. Feel free to negotiate, as they are usually open to haggling, especially towards the end of the sale.

    Budget-Friendly Ways to Accessorize Your Home

    Accessories can transform a house into a home, adding personality and warmth. Focus on budget-friendly options such as throw pillows, rugs, and curtains, which can easily be swapped to refresh a room’s look. Shop at discount stores, clearance sections, and online outlets for affordable accessories that complement your style.

    Thrifty Tips for Decorating Each Room

    Each room in your home can be stylishly decorated without a hefty price tag. Focus on high-impact, low-cost changes that make a big difference.

    Living Room: Affordable Sofa and Seating Options

    Your living room is likely the most used space in your home. Opt for a quality second-hand sofa or one from a discount outlet. Consider purchasing a slipcover to give an old sofa a fresh look.

    Complement with affordable seating options like poufs, bean bags, or refurbished armchairs.

    Bedroom: Cost-effective Bed Frames and Mattresses

    A good night’s sleep is essential, but you don’t need to spend a fortune on a bed. Look for bed frames with storage to maximize functionality.

    Memory foam mattresses, often available at a lower cost online, provide comfort without the high price tag of traditional mattresses. Pair with budget-friendly bedding to complete the look.

    Kitchen and Dining: Economical Table and Chair Sets

    Kitchen and dining areas can be furnished affordably by opting for simple, sturdy table and chair sets. Consider second-hand options that can be easily refinished or painted. Mismatched chairs can add a charming, eclectic vibe to your dining space.

    Bathroom: Inexpensive Fixtures and Storage Solutions

    A bathroom can be updated on a budget with a few strategic changes. Swap out old fixtures for new, inexpensive ones from home improvement stores.

    Use baskets and shelves for stylish and practical storage. Adding a new shower curtain, towels, and beautiful dollar-store containers with beautiful and fragrant soaps can also give you an excellent bang for your buck.

    Outdoor Space on a Budget

    An outdoor space can be an extension of your home and doesn’t have to be costly. Look for affordable patio furniture during end-of-season sales.

    DIY projects, such as building pallet furniture, can create a cozy outdoor area. Add inexpensive fairy lights, potted plants, and outdoor rugs to enhance the space.

    Finishing Touches: Adding Personality Without the Price

    Finishing touches make a house feel like home. Personalize your space with items that reflect your interests and experiences. Family photos, travel souvenirs, and handmade crafts can add a unique touch without costing much.

    Try shopping thrift stores and flea markets to find interesting and unusual items at low prices.

    Incorporating Plants and Greenery for Low-Cost Decor

    Plants are a great way to bring life and color into your home. Choose easy-to-care-for varieties like succulents, pothos, and spider plants. You can find cheap ones or ask friends for pieces of their plants to regrow. Display your greenery in creative containers like mason jars or repurposed cans. 

    Wall Art and Decor: Budget-Friendly Ideas

    Wall art can be expensive, but there are many budget-friendly alternatives. Create your art with DIY projects or find affordable prints online. Frame vintage posters, fabric swatches, or your favorite photographs. Use wall decals or removable wallpaper to add interest without the commitment or cost of traditional wallpaper.

    Mixing High and Low: Investing in Key Pieces

    Strategically mixing high and low-cost items can create a sophisticated look without blowing your budget. Consider a sturdy dining table that will last for years. Complement these with more affordable accessories and decor.

    This approach allows you to splurge on essentials while saving on other items.

    Final Tips for Maintaining Your Budget-Savvy Home

    Once your home is furnished, maintaining it on a budget is crucial.  Reevaluate your space periodically and make minor updates to keep it fresh. Swap decor items between rooms or continually incorporate new budget-friendly finds to refresh your home.

    Conclusion

    Furnishing a new home on a budget doesn’t mean sacrificing style or comfort. With careful planning, smart shopping, and creativity, you can have a gorgeous space without breaking the bank.

    Embrace budget-savvy strategies and enjoy the process of making your house a home.

     Share Your  Budget-Savvy Tips

    We’d love to hear your tips and tricks for budget-savvy home furnishing! Please share your ideas and experiences in the comments below, and let’s inspire each other to create beautiful homes without breaking the bank.

  • Young Adult Money Management

    Young Adult Money Management

    Young Adult money management can feel like an impossible task, but with some guidance, you don’t have to feel overwhelmed. To get started on your journey to better money management, you might want to start with a few items that will make the process easier to organize.

    Things to help you or your young adult get started:

    BUDGET PLANNER for tracking your expenses and organizing your accounts

    POCKET PLANNER for those who like to keep their plans close at all times

    ERASABLE PENS or pencils so you’re always prepared

    Recently, I spoke to a family friend and congratulated him on his impending graduation from welding school. 

    I decided to send him a gift by cash app upon graduation. Before I did, I wondered if he had received any training in money management as a young adult. Young adult money management is a significant consideration when leaving high school or college and entering the workforce.

    I did not doubt that he would be prepared to do the work. But I wondered if he was ready for the many financial decisions that would come his way. 

    I have a real soft spot for young adults and money management. At that age, I was very naive about managing my money. I had big ideas about life after college and how much money I would make one day.

    After we graduated and started a young family, my husband and I struggled to stretch our humble first salaries. I worked for a non-profit, and he was a teacher. We had a lot of love but a minimal concept of a financial future. Moreover, we didn’t know how to use our finances to set up our future. 

    We spent the money on the present. We knew we had to work, pay our bills, and provide for our family’s immediate needs.

    Neither of us had been taught money management at home, high school, or college. We did not have a long-term financial plan or sound economic strategies to implement. Like many young adults today, we were left to our devices and made many mistakes.

    Money Questions for Young Adults Money Management

    I am always amazed at the raw potential in the lives of the young people I know. They are talented, driven, and savvy.

    Part of helping them meet their incredible potential is helping them plan and prepare for their financial well-being. 

    Perhaps you’re a young adult new to the working world or know young adults new to the labor market.

    If so, here are some good questions to ask to get started on sound financial grounds.

    1. Do you have a cash management account like checking, savings, or both?
    2. Do you know how much money you gross and net and the difference between the two?
    3. Do you know how much you spend daily, weekly, or monthly?
    4. Do you have a plan for your money before you get it?
    5. Are you putting money away for an emergency?
    6. Are you investing in your future?
    7. What kind of lifestyle do you want for yourself and your family?
    8. Do you know how much that lifestyle costs?

    Purpose of the Financial Plan for Young Adults Money Management

    Grocery, gas, and energy costs continue to rise. Many young adults also have to negotiate the price of daycare and automobile needs. Inflation affects us all at any age; young people are being hit on all sides.  

    Having a sound financial plan from a young age makes life easier. On the other hand, having no plan makes many matters more complicated.

    Difficulties (even calamities) are a part of life. They are even worse when they strike, and you’re living paycheck to paycheck.

    Many of those difficulties occurred in our early married lives, forcing us to change how we did things.

    Write It Down! 

    Young adult money management is a matter of learning good financial habits. One habit that helps prepare for all contingencies is to begin writing everything down simply. 

    Several excellent budgeting and planning apps exist, but pencil and paper are great ways to start. Then, gradually move to other methods if you want to.  

    Things to write down for your new habit of planning:

    1. Write down your net pay per pay period.
    2. Write down your expenses and leave space for the miscellaneous or unexpected. 
    3. Write down how much you will pay yourself first.
    4. Write down how much you will donate or give away.
    5. Write down specific goals you may have or priorities that need to happen during the pay period.

    Now that you have an action plan, remember that this is the starting point. You may need to adjust or make cuts or reductions to your budget, and that’s okay. Think about what you need first, the absolute necessities, before what you want. 

    If you would still like to try a cash management app, one you might consider can be found at nerdwallet.com. This app offers a free account for managing your money and access to various articles on money management. While I have no sponsorship from NerdWallet, I often visit their site for good articles and resources.

    Action Steps and items that you can buy to help Better Young Adult Money Management starts here:

    1. Start your budget planning today

    2. Learn financial literacy regularly, especially if you have children

    3. If you want to learn about emergency funds, the article link here may interest you: https://blackfamilygreen.com/financial-record-keeping-how-to-organize/


  • How To Talk About Money: 5 Steps to Start the Money Talk

    How To Talk About Money: 5 Steps to Start the Money Talk

    Why Talking about Money is difficult:

    Often, the conversations surrounding money, though born out of necessity, never materialize. Families usually cower at the mere thought of talking about money. Learning how to talk about money doesn’t have to be intimidating.

    Books that can help

    Reading books or playing games on money and couples can help give you better insight into starting to talk about money with your spouse or partner. Some books that are worth your consideration can be found here:

    Money Talks: The Ultimate Couple’s Guide to Communicating about Money by Talaat and Tai McNeely

    Smart Couples Finish Rich: 9 Steps to Creating a Rich Future for You and Your Partner by David Bach

    Money Games-Debt Freedon for Couples: Make a Game out of Your Money Goals and Reach Financial Freedom Together! by Heidi Ifland Nash

    When we initiate these conversations about money, we must be aware that everyone doesn’t come from the same background, where money talks and emotions are the same.

    For some, discussing, for instance, how much we are paid, how much we owe, what assets and liabilities we have, how much we have or have not saved, and our credit scores are considered improper. You want to help yourself and your partner move beyond this ideology.

    For others, it’s a matter of not knowing how to talk about money or not realizing the need to have such discussions. Think of how often you have heard or experienced situations where the family land or assets are seemingly squandered or happ haphazardly lost or drained.

    The assumption is that a younger generation just sold the land or stock because they were greedy for money. They didn’t care about what their family may have gone through or how hard they had to work for it.

    However, the problem is often that they need a frame of reference for handling financial situations because they were never taught.

    The result is that individuals grow up with no concept of managing their finances, much less the finances of loved ones who may need them to do so at some point in life.



    Money Talks are Essential for Growth

    Recently, I had the chance to convince a family member that she should use a high-interest-rate savings account. She didn’t know such an account existed and assumed that her bank was giving her the best they could.

    This was a great segway into having other personal finance conversations with her that may have seemed awkward in the past.

    Financial conversations are essential when, for instance, you are the oldest of your siblings or sandwiched between caring for children and aging parents. Or when you and your spouse can’t see eye to eye about managing income.

    For many, you have already felt the pressure of being there for the family when life does the things it does to us all. You know, those unexpected and expected things in life.

    Today, think about an awkward financial conversation you may need to have with a friend or loved one.

    Today, learn how to talk about money using five steps to start the money talk.

    1. Think about the situation before opening the topic with the other person. Be sure of your intentions first. Consider how the topic makes you feel and get those feelings out of your way first. This way, you are more likely to be calm and focused before approaching the other person or persons.

    2. Find a window of opportunity to invite the conversation. Think of this as a 1st attempt. Use your experiences to open the door to a gentle talk about the subject.

    3. Don’t take yourself too seriously. Yes, some money conversations are needed, but the 1st conversation doesn’t require you to be too pushy or be a turnoff. This may be the time to invite some fun to lift the heaviness these talks can carry.

    4. Be clear about your concerns or questions. Remember not to come off as a know-it-all because who likes that? You want to be welcome, not a roadblock, to this and, hopefully, future talks about the subject.

    5. Make it quick the first time around. Use some finesse to make the other person feel that they are in control of accepting this talk with you and, therefore, have the right not to talk to you.

    REMEMBER: You are working to cultivate a good relationship in money conversations, whether the topics are challenging, sad, or invigorating.
    Leap today and begin building your strategy for having the practical money talks.
    If you need more information on how to talk with a parent or older family members regarding money scams that target older individuals, you can find solid information that will be helpful to older age groups at https://www.ncoa.org/article/top-5-financial-scams-targeting-older-adults

  • 5 Ways to Manage Financial Procrastination

    5 Ways to Manage Financial Procrastination

    Did you know that financial procrastination is a personal goal-stealer?

    Do you often have countless plans to improve different life areas and circumstances? Yet, you constantly stall when it’s time to make money moves. Working to move forward on overcoming financial procrastination is doable. I had to find ways to manage my behaviors to be financially healthy.

    It was time to consider what to edit from my surroundings or circle of influence.

    Today, I was thinking about things I must do to fine-tune my family’s financial plan for the year. I had only one problem: I couldn’t stop playing a game I had downloaded onto my iPhone. Those bobbles and whistles had me captivated, hahaha! I told myself I would quit when I lost the last coin.

    But I keep gaining coins because I don’t lose(positive self-talk only). Finally, I decided to cut it off cold turkey and delete the app from my phone instead of allowing it to drain my time and energy—time and energy that I could use working on the family budget.

    Sometimes, we want to forget everything for a moment and relax or distract ourselves from those things that need our attention. Let’s face it: sometimes, that is what we need to keep our sanity intact.

    However, when we procrastinate on financial upkeep, we can find ourselves in a world of difficulty. Take, for instance, the act of overlooking or neglecting financial obligations, whether they are necessity items and services or impulse drags on our finances. Placing bills on the back burner, letting the mail pile up, or simply refusing to acknowledge that things need attention can result from many dynamics in your life. Still, the focus of this article isn’t to figure those things out but instead to make prioritizing your finances more doable.

    Take things in small bites. That’s all! Do enough to be productive while not turning the task into a whole gallery of things to do.

    5 Ways To Manage Financial Procrastination: Some of the things I choose to do to limit my stress and anxiety and to curb procrastinating tendencies over finances are:

    1. Take 5-10 minutes to check the budget 1-2 times weekly to ensure we are on track. If you don’t have a template, no worries; use pencil and paper and write it down. I did this for years before converting to doing it digitally. If you would rather have an online tool, there are many options, such as Nerd Wallet’s free budget tool.


    2. Tweak the budget if needed and refuse to feel wrong about doing so. Listen, budgets are living plans open to change as you see fit. Don’t let it stress if you need to adjust, add, or delete items from your plan. It doesn’t have to be perfect; in truth, nothing is. I see it as an attempt to organize my financial thoughts by providing my family with a roadmap or financial GPS.


    3. Check credit accounts once a week to ensure that there are no fraudulent transactions. One thing that helps here is setting up credit account alerts. You can set threshold amounts for spending notifications to be sent immediately to your phone or email. This feature enabled me to recognize fraudulent activity on one of my accounts in the middle of the night. I could contact the credit company and protect my credit right away.


    4. Write down what I want to give more time and attention to for good financial health. A friend uses a vision board to help her achieve her financial goals. This is great for people who prefer visual cues to stay on task. You can also use the notes feature on your phone to jot down your ideas for financial health. I set goals in notes and come back and visit them to see how I have succeeded or what I need to work on.


    5. Give yourself some grace. Managing your money can be daunting when you incorporate everything your needs, obligations, and desires entail. I’m constantly reminded of a quote by Aristotle that I love: “Bring your desires down to your present means. Increase them only when your increased means permit”. This helps me to fine-tune my family’s financial plan better and question my motives for spending, saving, and investing responsibly as a steward of my finances.

  • Shopping Plan: Get Cash Back While You Shop!

    Shopping Plan: Get Cash Back While You Shop!

    Shopping Plan: Get Cash Back While You Shop!

    Do you like to earn cash back while you spend money? Consider using a cashback app to do it.

    The hustle and bustle accompanying holiday shopping can be exhilarating for some. Yet, for those of us who can’t get with the long lines, the occasional bumping and pushing during the race to beat the crowd to that great deal, or the vast choices associated with online shopping, maybe we need to get something while we give something cash back, yeah cash back!

    Shopping for the holidays or any day can be anxiety-ridden. And sometimes downright intimidating. If you are one of those people, like me, who don’t like the time it takes to shop for others but do it out of love or necessity, there is a way to make it more bearable.

    Try making money while you spend money! Use a money-making app that offers a rewards program for spending! I decided to benefit from my gift shopping by using one called Rakuten.

    I was initially skeptical, but after talking with a trusted friend who uses the app regularly, I let go of my trepidation and tried it. And guess what?

    Yes! I made money while I spent money, and you can too!
    Receiving cashback was a great incentive to shop during the holidays and any day.

    I started by downloading the app to my phone and commenced shopping. The app offers categories for shopping that save time figuring out where to shop. It also finds coupons you can add to your purchase at a vendor store.

    With a list of everyone I needed to shop for and my spending budget, I was able to get my shopping done in an organized way while racking up cashback bonuses along the way.

    So, how do you get the cashback for all your hard work (wink wink)? Rakuten will send you a check or use PayPal to get you paid once a quarter for doing what you need to do anyway.

    You may wonder how much cash I made from my online shopping trip.
    I shopped at 12 stores, and although they were all accessible through Rakuten, I received cash back from only 11 of them. Ultimately, I got 12% cash back on my total spent after using coupon codes that the app found available then.

    I only spent what was in my budget for the entire gifting season. Since Rakuten gets a commission for referring you to a store, they give you money in return.

    My running cash back balance was about 12% of my spending total. You may think this is not a lot of money, but considering I was going to spend it anyway, I think it’s good.

    To learn more about the possibility of cashback shopping through Rakuten, people can learn about them at https://www.rakuten.com/.

    Something I do to help any shopping venture to be less stressful with or without the use of coupon and cashback apps:


    1. Break it down into bite-sized chunks. Instead of doing it all at the last minute, it stresses you less and allows you to enjoy the process!
    2. Start sooner rather than later so last-minute shopping doesn’t throw you. Add shopping dates in your planner so you control your time better.
    3. Decide how much you can afford to spend according to your budget or spending plan for essential, fixed, variable, and discretionary spending. Overspending and wrecking your budget isn’t the goal.
    4. Make a list of who or what you want to shop for to avoid unintended or unnecessary purchases.
    Enjoy your shopping experience!

  • Financial Record Keeping [How to organize your financial records]

    Financial Record Keeping [How to organize your financial records]

    There are many things to do, but you feel lost on where to start. Understanding how to organize your financial record keeping can help you prepare for a more successful year than last.  

    In addition to the several apps and software that can help you with this task, there is much to say about good old-fashioned pencil and paper. But it would be best if you did what works best for you. The important thing is learning how to organize your financial records.

    Keeping your financial records organized can be a significant factor in managing your household finances. Not having these things in order can cost you time and money due to lost documents, records that need to be replaced, deductions lost at tax time due to poor record keeping, and unpaid bills.

    Don’t be ashamed.

    You don’t have to feel ashamed if your financial records are in shambles.  You are, very likely, not alone in this challenge. Adding one more can feel too much with all you must do daily.

    One of the hardest things to do to make our financial lives make sense is to organize the little parts of the puzzle into a whole picture. Where do we put it all? Using a

    The bills come through the mail, and what do we do? We throw them on the kitchen counter…

    Next week, we will get more bills and add them to the other bills on the kitchen counter.

    We freak out! Why? Because we do not know how or where to start. First, we need a place to keep it all. A document box could help corral the clutter. Or, if you need a more substantial or secure option, you could try an old-school file cabinet or locking storage option to file and secure your documents and financial records.

    Get Started Sooner Than Later

    Failure to get started is only one of the challenges we must overcome to manage better and organize our records, but it’s a great place to start.

    This is the year we will get in order and take our counters back from the overflow of paper bills and invoices.

    Let’s get it started today!

    It’s time to decide to organize your finances better when you find yourself scrambling for receipts for purchases you know you made earlier in the year—purchases that could help defray some of what you may owe the tax man. Or when you need important documents to get approved for a loan or produce copies of important business documentation for any reason.

    Often, we feel out of control with our finances because we lack control over our financial record keeping, organization, and station.

    Choose Your Method

    This doesn’t have to be hard if we decide to keep everything simple.  I’m talking about pencils, paper, simple folders, and a file box. Yes, I know this may seem antiquated to some, but some of us like the tactile paper and pencil or pen approach.

    If this is not your preferred method of record keeping, then there are options for you as well!

    When I used to write everything down, I used a larger version of my checkbook ledger as a template for keeping up with how money was flowing in and out of our accounts.  I had to be very disciplined and record receipts weekly.  This also meant that my husband and I had to keep up with those receipts in an accessible area of our home to work on our books.

    We did this for years, and I must say that although it was time-consuming, it helped us to have a very clear picture of what was happening with our finances.

    We kept file folders for medical bills, large purchases, workplace benefits, and insurance, among other things.

    This worked until we had children and more career aspirations, which meant more time constraints. At that point, we began using spreadsheets and other software to manage, record, store, and organize our finances.

    Time For Change

    Technology was changing as well. Gone were the days when we had to keep up with every transaction tediously while waiting for it to hit the bank. Now, debit and bank cards were outpacing the use of checks, and as a result, many transactions were instantaneous. Gone were the days of the nasty trait of “beating the bank” when writing checks before your deposits would clear.

    Today, debit transactions are posted within 24 hours of the transaction. This means there is no time to try to cover a purchase, and you should have waited until the money was available. Becoming more organized, while a time commitment initially, will make your financial life more manageable and attainable.

    With pencil and paper or by recording things on your computer, start here: 

    Steps To Better Record-Keeping

    1. Write down the kinds of transaction categories you need to keep up with. Some examples may be your deed, your will, tax returns, stock market investments, bank or financial institution statements, and receipts that you need to hold on to for an extended time to confirm particular payments or ownership. These are just a few things you may decide to keep up with.

    2. Compile the documents for the categories you listed in Step 1. This is the time to go through your piles of paper, whether in junk drawers, closets, or wherever it has found itself in your space. You can also go through your email if things are sent there, especially if you have decided to go paperless.

    3. Where will you keep these items?  Where in your space will they live?  This should be in an area that is easy to remember. Also, one that will not add to or clutter your space. If you choose a paper filing system, make sure to keep a shredder available so that you can fight clutter.

    4. Decide on your filing system. Remember, we said that our financial records could be organized or managed by pencil and paper, or we could organize them digitally.  While I started using the pencil and paper route, I eventually moved to the digital mode of record keeping. I started going paperless with my financial institutions and creditors. I still use files and folders. I use them on the computer instead of in a binder or box.  If you choose the first route, you must supply yourself with some things. File folders, labels, and a file cabinet or box.  Using a small banker’s box is an easy and cheap way.

    Or some other sizeable decorative box you don’t mind having in your space.  

    Suppose you prefer to use your laptop, tablet, or other devices. That’s fine. You can make a file on your desktop or drive with folders for the categories needed. You may find having a scanner at your disposal handy, too.  I usually start with a folder for the financial year in question. Then, in that folder, I make other sub-folders by category, such as “confirmations,” in which I send confirmations for payments that I make online.  We also have a folder for taxes. One for bank/financial statements. And one for ‘tuition payments” for our college students, to name a few. 

    I share access to these files with my husband so that either of us can refer to them at a glance.

    I also share the family budget with my husband for added continuity in financial organization. I do this through the Google Docs app and invite him to edit that document. This way, we know which accounts are available for different spending categories. And since I manage this app, any changes are readily visible to him.

    Everything doesn’t work for everyone. However, some of these ideas will help you cultivate your financial record-keeping organization method. Find what works for your and your family’s needs.

  • Budget for Holiday Shopping: 5 Ways to Manage Spending

    Budget for Holiday Shopping: 5 Ways to Manage Spending

    Do you want to shop for the Holidays with less stress?

    Holiday shopping can bring about all sorts of feelings such as joy from everything you can buy, indecision on what to buy, and stress over the debt you may have during the shopping season.

    Shopping for holidays or special occasions on a budget doesn’t have to be insurmountable. 

    Just break it down into bite-sized chunks and it will become something that stresses you less and allows you to enjoy the process!

    Setting a budget allows you to control your spending for the joyous season no matter the special day. 

    With price increases, last-minute purchases, and the need to add just one more person to that already bulging shopping list, a plan can save your wallet, while lowering your shopping stress level.

    This list will help you shop with a plan to control the stress & debt and have fun doing it! 

    5 BUDGET TIPS FOR HOLIDAY SHOPPING WITH A PLAN!

    shop with less stress
    1. Start sooner rather than later.
    • Automate your holiday savings with your bank transfer feature.
    • Add a line to your budget template for holiday savings.
    • Repurpose an already opened account for holiday shopping.
    1. Decide how much you can afford to spend.
    • Write down how much money you make.
    • Write down how much you already owe for regular financial obligations.
    • Decide how much discretionary income you can afford to spend.
    1. Decide how much you need to save each pay period to meet your goal.
    • What is your holiday savings timeline?
    • When do you want to start shopping?
    • When do you need to stop spending so you don’t wreck your budget?
    1. Make a list of who you will shop for or gift financially.
    • How much will you a lot per person?
    • What will you do if you go over or under the budget amount for a person?
    • Do you need to add an extra gift for last-minute or unexpected gifting?
    1. Plan how much you will spend on holiday events such as parties, decorations, and dinners.
    • Will you attend any holiday parties? How many?
    • Will you bring items for a potluck or a gift? What and how many? 

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