Sharing insights since 2007 on carefully saving money, investing, frugal living, coupons, promo codes because the little things matter in achieving financial freedom!
It’s no secret that I love my Health Savings Account (HSA). I make regular contributions, and even maxed out my contribution last year.
The HSA isn’t for everyone, but if you have a high-deductible account, and can afford the out-of-pocket costs until you meet you deductible (I rarely meet my deductible, because I have few health care services needs), it can be a great tool.
Not only are your contributions to the account tax-deductible, but you can also withdraw the money tax-free when you use it for qualified health care expenses. This means you don’t have to pay taxes on your earnings if you use the money for the right things (watch out for penalties if you don’t, though!). Plus, your HSA can serve as another IRA if you build it up by the time you reach 59 1/2, with the same rules as a Traditional IRA when you use money for non-health expenses.
One of my goals in life is to be a contestant on Jeopardy.
I don’t have any illusions about being the next Ken Jennings, but I do have a very good memory for trivia — to the point where my husband refuses to play Trivial Pursuit with me anymore. Pair my status as a walking encyclopedia of useless information with my general lack of stage fright (teaching high school cured me of that), and I think I could potentially clean up on Jeopardy. Well, as long as there weren’t too many sports questions.
Even though visions of Alex Trebek and Daily Doubles dance in my head, I do know that winning Jeopardy will never be my path to riches. Because even if I were able to pull of the kind of streak that Ken Jennings did, I wouldn’t be able to take home all the money I earned.
I’m going on vacation next week. While we’re not planning to venture far from home (it’s more of a staycation), there are a few things I’d like to do. One of the activities revolves around some gift cards I received back in January. The gift cards are for a restaurant/winery located a few hours away from here, so I haven’t had a chance to use them.
I decided our vacation was the perfect time to make a special trip. Vacations provide a good opportunity to fit in those moments of planned spontaneity — when you have a general idea of what you want to do, but don’t feel the need to pin down exactly when and how you’re going to do it. This got me thinking…
I remember how I used to do bills each month. I’d sit down with the checkbook, a stack of bills, and a book of stamps… Then I’d hop on my horse and ride into town to bring them to the post office.
OK, so maybe it wasn’t that long ago, but doing bills like that certainly seems like something out of a storybook these days.
I still get a paper copy of some bills in the mail, but most now show up in my email inbox. I have the ability to pay each of them online: either by automatic withdrawal, or through a payment portal.
The only bill I pay by check is my mortgage — and that’s only because I drive by my lender every day. Also, for some reason, I like to get a receipt confirming I made the payment. Maybe I’m just being a little nostalgic.
I used to have a stack of paper bills in a basket on my computer desk. But with my new mixture of electronic and paper notifications, it’s harder to keep track of what needs to be paid and when. I needed a new system.
Are you in overwhelming debt? If so, you’ve probably considered debt consolidation.
Some experts suggest taking advantage of non-profit credit counseling and consolidating your debt. They say it can help you gain financial traction more quickly. Others claim that consolidations loans are financial traps that should be avoided.
Debt consolidation is simply rolling all of your existing debts into one large debt. After doing this, you’ll start to make one payment per month to one creditor.
For the first several years of our marriage, my husband and I only had one car. Those days were kind of frustrating, since the lack of reliable and extensive public transportation in our town meant I often had to drive my husband to and from school. But we did save money. After we upgraded to two cars, we upgraded our costs in terms of gas, insurance, and maintenance/repair.
Sometimes, I find myself daydreaming about getting rid of one of our cars, or even getting rid of both. Before that could happen, however, we’d need to live in a completely different area.
Here are two important questions to consider before getting rid of your car:
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