On Groceries and Food Towards Our Financial and Physical Well-Being

by David@MoneyNing.com · 26 comments

You can save lots of money with grocery choices

Before I continue further, I need to confess that I am an amazing cook (yes, I’m one of those lucky few who possess the skills to know exactly how to cook everything in their head but never put it in action).  This piece is done through research, observing what my wife does and asking her questions.

I must be the luckiest person on the face of this planet.  I have an incredible wife, who not only cooks for the family but showed me that we can actually be financially and physically healthy by just eating at home.  Let me share with you some of the benefits.

Never Overspend
Unlike common practice, we never buy the largest container for sale just because the unit price is lower. We found that buying in bulk usually just means we consume more (ex. If we had a bigger container of salt, each spoon full would be just a bit “fuller”).

Ever since that realization, we started buying smaller packages. Not only did this save us a few bucks, we also noticed that we started slimming down. It must be less ice-cream and Coke at night.

Decide Our Menu Based Upon Items On Sale
Well, I make it sound like I decide the menu but it’s actually my wife that does the thinking since she is the expert (I do make requests from time to time but I rarely have any ideas).

More often than not, we go to the grocery store without even knowing what we will buy. It’s not that we don’t like planning, but we would often decide what we will eat based on what’s on sale. Beyond the obvious financial benefit, we actually like the surprises this brings us.

Eating Out or Bringing Home Take Out
Now that we eat at home most of the time, we eat out less often. I work at home and Emma even prepares a lunch box for me from the night before. It’s not always the money that I save, but the hassle and time that I could spend elsewhere that I really cherish.

Save Some Gas
I heard that there are some grocery stores that allow you to shop online. I haven’t tried it but I just don’t know if I like that idea. In theory, you could save some gas but they charge you for delivery (some stores have promotional offers to waive the delivery fee). I can see this working for those that buy the same type of groceries but this convenience might be “too easy” which makes us buy even more.

What we do to save gas is that we will almost never go make a trip just to the grocery store. We buy groceries on our way home from doing something else, or Emma would go there on her way home from work. We just add it as another activity of the day, instead of making a ton of separate trips.

Coupons are Everywhere
Through the mail and the Internet, coupons are all over the place and is practically available for everything. Nowadays, I almost never buy something without first trying to search for a coupon. I actually find it quite fun to read the mailings and see what’s on sale. Sure it’s advertisements, but since groceries don’t really entice me to buy that much (unlike golf clubs for example), I find that looking at advertisements from grocery stores are okay.

There’s Got to Be More
So I shared some ways that our family benefits with our “groceries” habits, now it’s your turn. What do you do to save money on food and what are your thoughts on what we do? Of special interest is actually the online grocery experience since I wouldn’t mind trying it out one day. Let us know.

Reduce, Reuse, Recycle and How it Helped with My Personal Finance

by David@MoneyNing.com · 15 comments

I still remember the time when my school teacher taught me about the 3Rs (reduce, reuse, and recycle).  All the benefits that they spoke about honestly didn’t mean much to me at the time (I was more concerned about playing soccer at recess), but it was important for kids like me to at least start learning the habits that saves our environment and eventually our pocket books.

As I think back, developing the discipline of separating the newspapers, soda cans from the other garbage had a profound effect on me.  In a weird way, it helped me become more organized and developed discipline because I was extending this idea of separation to other areas.  Once I was used to doing it, I started putting similar types of clothes in the same area in my closet.  It just seemed like a fun idea at the time but now that I think about it, it helped me save so much time too.

Another fun event for me was newspaper hunting.  Since we had all the newspapers separated into its own box, we could easily find and reuse them for our own purposes.  When I was young, we routinely pan-fried chicken wings (what am I talking about, we still do this and I’m not so young anymore).  We would put newspapers all around the stove area so the oil would splash onto the newspaper and not the counters.  It was fun because I could find advertisements that I hated and position it for the chance that oil would splash onto it (stupid, I know).  While this was fun, it also helped me become more creative.  Nowadays, I would routinely think of all sorts of ways to reuse different things that we own.

Whoever thought of the idea of recycling is a genius.  Not only can we help others by recycling what we have, we can also earn money.  A couple months ago, I recycled my ancient laptop through Costco’s Trade-in and Recycle Program.  I didn’t get much money for it but the excercise was certainly better than having an unused laptop sitting at home.  Of course, I could also sell it on Craigslist or eBay if the laptop was any newer, but it is always nice to try something new to see how the whole process works.

So why is the title Reduce, Reuse, Recycle and How it Helped with My Personal Finance?  The 3Rs helped me:

  • Be More Organized with My Finances
  • Have Discipline in Saving for Retirement
  • Be More Creative in Money Saving Ideas
  • Earn More Money

Has the 3Rs helped you? In what ways? Join me in sharing it with everyone.

Celebrating Thanksgiving is a Must This Year

by David@MoneyNing.com · 11 comments

Every family celebrate Thanksgiving

With headlines all over about the financial mess and how bad the economic is (and will be), many of us feel a sense of doubt about the future.  Thanksgiving is coming up, and it’s easy to feel less excited about the idea of celebration when our retirement savings, investments and emergency funds depleting every day.  Don’t feel too bad though, because we are all in the same boat.  I feel the pinch as well in this bad economic times, but I will be celebrating thanksgiving more than ever.  Here are a couple of reasons why we should do so:

Thanksgiving is About What We Have
When the holiday started, it was celebrated at the end of the harvest season to be thankful for the possession that we have.  It also signified the start of the holiday season where families start gathering at home with friends to have a holiday feast, chatting about the seasons hard work and reminding themselves that family is the most important treasure that we have.

Despite the fact that many of us lost a ton of confidence in our economy, we as a nation have persistence and the will to succeed like no other. We will get out of this mess and will prosper again. As our ancestors will say:

As long as we still have our hands and feet, years of fruitful harvests will come

It’s About Sharing
While there is no excuse to be out of touch during the year, Thanksgiving gives us a chance to share with our family like no other (similar to how birthdays give us an chance to give gifts). It’s a time where we all gather and be back in the comfort of our own families and realize that yes, we aren’t alone.

It’s About That Turkey

cook that delicious turkey this thanksgiving

That’s right. A huge part of thanksgiving is about that delicious turkey. It’s always fun whenever someone comes up with an improved way of fixing the turkey.

While searching on the internet, I found some tips for roasting a turkey. Here are some highlights:

  1. Buy the best quality turkey available (organic, free-range, etc.)
  2. Cook it breast-side down
  3. Cook the turkey stuffing separately because it is easier to cook the turkey more evenly.

I love eating turkey. Yay.

It’s Still About the Turkey Creating the Comforting Outlook
Self-fulfilling prophecy is an interesting phenomenon.  When we hear about all these headlines, we will stop spending and in effect slow the economy even more.

Confidence works the same way. When we lose confidence, we will not act intelligently will lead less desired results, lowering our confidence even more.

Celebrate Thanksgiving this year and remember again of what our ancestors would say.

As long as we have our hands and feet, we will prosper.

If You Have Time for Shower, You Have Time for Personal Finance

by David@MoneyNing.com · 15 comments

giant rubber duck

When I was very young, I hated going to the shower.  I would sit there (and in reality spend just as much time) convincing myself that I really didn’t want to waste my time.  I would tell myself that while my parents forced asked me to go every single day, I never really saw the benefits.  It wasn’t nearly as fun as watching TV or playing video games, so why bother?  I just did not get it.

It was funny when I think back (and sharing was something I certainly had to think about because my parents read my blog) because now I obviously realize how ignorant I was.  Shrubbing myself everyday might seem unnecessary and boring, but what will happen if I don’t?  Dirty, health problems… you get the idea.

Before you laugh at my story, think about the time to dedicate about your personal finances.  While we can’t physically force you to think about it, we definitely ask you to.  Of course it’s not fun to setup your budget or set aside an emergency fund instead of using that money to go out for dinner, but what would happen 30 years from now?

If you have time to shower, you have time for your finances

The Rubber Duck in Personal Finance

My mom never got me the rubber duck to make showering more fun (nor was I creative enough to take my invisible microphone and become a singer), but getting older made me realize that coming out of the shower makes me feel good. I’m more relaxed, and I just feel comfortable.

Working on your finances gives you a sense of accomplishment and satisfaction when things are on track. It helps you be more confident and optimistic about the future. It rids you of many worries that most families have and allows you to be much happier than you will otherwise.

30 years from now, do you want to think back and realize how ignorant you were in neglecting your finances?  While it’s quite boring to spend time on your finances, start caring about your finances right now.  It could be as short as 15 minutes a day, but it will rid you of the dirt and help you stay healthy long term.

Fortune Magazine’s So Called HENRYs are Getting It All Wrong

by David@MoneyNing.com · 26 comments

HENRYs are rich enough for most american standard

In the November issue of Fortune magazine is a featured article about the HENRYs (high earners, not rich yet). The writer argues that while they account for only 2.3% of the all American tax payers, they pay 17% of the total taxes paid. The author believes that it’s not fair that they pay a high amount of tax because they are hard working individual who aren’t even rich yet.

It’s a Matter of Choice and Everything Depends on Your Reference Point
The HENRYs are families with incomes of $200,000 to $500,000. According to the article, these people don’t buy a luxurious lifestyle and don’t spend a lot of money on extra stuff. On the other hand, the article claims that they are adamant on paying for child care and saving for private schools. They also spend on piano and swimming lessons.

For the HENRYs, these are absolute necessities but many of us probably believe that those are all luxuries. I can understand that child care is important but what about private school? Piano lessons?

Perhaps they believe that they aren’t rich, but if you ask me, someone who can afford a house, put $4,000 into their retirement savings, raise 2 private schoolers who have a baby sister supervising their piano lessons are considered rich.

If you are a HENRY and feel that you aren’t rich, the first thing you need to do is stop complaining. Then, realize that you can save even more money if you cut down some of your so called necessities. Putting away $4,000 is not shabby at all because one day, you will be living comfortably.

So keep working hard because no one is trying to punish you for your hard work. You are already much luckier than many of us.

My Parents Taught Me About Personal Finance

by David@MoneyNing.com · 12 comments

teach your daughter about personal finance

As I sit here thinking about my plans and goals for full time blogging (and at the same thing pinching myself to see if it’s all real), I realized that all this was only possible because of my parents.

Sure, I was able to quit my job because I established an emergency fund, knew my monthly expenses and kept them low. But these were all a result of the way I am, the frugal mindset that my parents influenced heavily.

Thinking back, there were many ways my parents taught me about personal finances.
By Example
As a young child, my family was having a hard time making ends meet. My mom, the incredible woman that she is, never bought anything for herself until we were much older. While I never really felt the difficulties since I was so young, hearing the stories from my relatives were enough for me to learn that saving money to avoid poverty should be one of the main priorities in our lives.

Practice Practice Practice
My parents gave me allowance early on. The money was very little but it allowed me to learn how to manage my own finances. I understood that if I saved and practiced delayed gratification, I could afford bigger and more expensive items.

Story Telling and Discussion
Some of the people we knew made financial mistakes that led to dire consequences. Fortunately, my parents were willing to take the time to share with me those decisions and how events played out because of those choices.

Tough Love
My parents loved me but didn’t let me have everything I wanted. They allowed me to reason with them but never let me get away with any freebies. They never took shortcuts on necessities but thought diligently on luxuries.

Show Me the Money
When I was young, my parents bought me mutual funds. It was fun opening those quarterly statements because not only did I love checking on stats, I also saw for the first time the power of compound interest and capital appreciation. From that point on, I knew that it was important to invest, invest and invest.

Thank You.
In many different ways, my parents taught me about personal finances. It needed patience, creativity and unconditional love. I wouldn’t be the same person if it weren’t for my parents.

Thank you. I truly love the two of you.

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