Sharing insights since 2007 on carefully saving money, investing, frugal living, coupons, promo codes because the little things matter in achieving financial freedom!
Bursting the love bubble by sitting down and having a serious talk about finances is never fun, but open communication about money is a good idea in any relationship.
Those thinking of tying the knot should have a serious discussion about money at some point, preferably before you move in together or get married. Even if there are no plans to combine finances completely, it’s still good to clear the air and see if everyone is on the same page.
Here are five things that to talk about before moving forward: [ continue reading… ]
Last week, I wrote about how I moved across the country with my son in a bid to get a fresh start on my life after divorce. One of the reasons I moved was to experience a lower cost of living. While I probably could have afforded to remain put, and my career isn’t constrained by geography, a lower cost of living comes with a number of advantages for my son and me.
Indeed, before we moved, I talked with my son about the financial ins and outs of the move, as well as the social ramifications. This was a decision that my son and my ex were both involved with. So, while I’m not constrained by geography, being able to live somewhere with a low cost of living has provided us with the following advantages: [ continue reading… ]
Going through my drawer full of receipts over the weekend was like driving through Manhattan during rush hour. The long and painful process involved looking through them one by one and trying to figure out which ones are really worth keeping.
In hindsight, I should have thrown out the ones I won’t need but maybe it’s the “better safe than sorry” mentality that kept me from sorting them out from the get go. “Why do I even keep those receipts?” I asked myself numerous times.
Below, I thought of 11 reasons why I save those seemingly useless pieces of paper:
1. Refund
What if I needed to return something? Having a receipt is surely the only way for a hassle free exchange or return (assuming the terms on the back of the receipt says I can).
Whatever I said is not correct if you shop at Nordstorm. This department store’s return policy seems to be “we don’t have one”. I heard Costco has a pretty relaxed policy as well. Use it, don’t like it and return it anytime.
3. Reimbursements
If you work for a company where you have to make purchases for them, you better save your receipts to get reimbursed. Whenever I see people filing expense reports with only one receipt worth less than $5, I always wondered “Why can’t you group them together and file less?” That was until the accounting department send us an email telling everyone to file those expense report no later than a week after the expense is incurred. Alright, if you want to do more work, I will shut up.
4. Check Against Your Credit Card
I know so many people who never check their purchases against the credit card statements anymore. It’s such a shame because they might be paying for things they didn’t even buy. Worst yet, overpaying tips that they never authorized.
5. Get Tax Reductions
As more and more taxes are filed online, it seems like there’s no need to keep those receipts. Just wait till you get an audit. You will be sorry then.
6. Price Matches
Your credit card could have a program, the stores have them and your spouse might even offer it. The only proof of purchase though is through your receipt. Keep them.
7. Save It for Warranties
Unless you want to fake a receipt (illegal in case you didn’t know), keeping those receipts just in case is a good idea. This is especially true for electronics, because usually the first thing they ask after you get on the phone is “When did you buy it”.
8. In case the Cashier Never Activates Your Gift Card
I’ve ALWAYS worried that the cashiers will do something wrong with those gift cards. Now I have proof that it does happen.
9. Show Proof for Services If it Wasn’t Fixed the First Time
Ever get something fixed and it starts breaking again within a week? Show them your receipt and tell them it wasn’t fixed correctly the first time.
10. Record it in Your Budget
If you don’t save your receipts, how will you remember to write it down in your budget? Whether you do it everyday or once a week, just save those receipts because even if you CAN remember them, why waste your brain power when you don’t have to?
11. Figure Out How to Use Up Your Flexible Spending Account (FSA)
If you can’t use up your FSA, wouldn’t you want to know what you bought before that qualifies? Receipts are a great place to start.
Maybe some things are just necessary after all. Save those receipts.
You probably have the best intentions when it comes to saving money. You likely start off strong every month but then inevitably, your friends ask you to go out for a drink. A drink turns into two, and before you know it, you’re sitting down at a full blown three course dinner complete with dessert and a bottle of wine. There goes your budget.
With all the temptations out there, it can be hard to keep your finances in line. Of course, splurging here and there every once in awhile is okay. After all, money isn’t just for hoarding. But the habit of overspending can become a much bigger problem if you don’t keep things in check. Take these five steps to stop overspending today before everything gets out of hand:
Much of our culture views shopping, even when it’s done online, as a social activity. This is especially true around the holidays because there are inevitably friends or family who will ask whether you’d like to shop for gifts together. Shopping is much more fun when done in a group, but doing so is often painful for the pocketbook.
If you’re a parent or come from a close-knit family, you might not even have the choice to shop alone (or even prefer to), but those looking for a way to save money or curb spending should definitely consider the following benefits of shopping solo.
Many Americans have little to nothing at all saved up. In the event of any emergency, most people just don’t have any resources to weather the blow. That’s pretty much an open secret though. After all, those living paycheck to paycheck and struggling to get by often find that building a cushion from scratch is daunting.
It can be difficult to understand how to build up your savings, but the key is to start little by little. Nothing is impossible once you get started. Here are five tips to help you strategically start building your savings:
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