New Blog Location

I've updated my blog to Wordpress and it can now be found at my very own URL: www.notspendingmoney.com.  New posts will no longer show up at this Blogspot address; please update accordingly!

Thanks for reading!

New Blogroll item: The Simple Dollar

I've added a blog to the blogroll: The Simple Dollar.

The blog is written by a guy named Trent who describes his blog as such: "The Simple Dollar is an exploration of personal finance from the perspective of a late-twentysomething who just realized that he needs to get a grip on his money. I used to be a spending maniac. I’m doing better. Sometimes."

I don't know the guy, but he has a lot of money tips that are interesting. I try to stay more focused on a lifestyle of not spending money, rather than providing day-to-day savings tips, so I thought I'd link to his site in my blogroll.

The post that particularly caught my eye was one that talks about the exact thing that I like to focus on here: How to Feel Happier about Not Spending Money.

Enjoy.

Moving On: Getting over your bad self (and your mistakes)

We've all done it before-- no matter how much you're on a budget, no matter how frugal you're being, no matter how many Ramen noodles you eat instead of going out, there's that day when you sit back, go over your personal finances and say...

I spent HOW much??? On THAT????

Yes, yes you did.

First, learn from it.  What item could you simply not live without? Did you make the decision to buy it actually in the store, or before you even went in? Before you even left your house? Next time, is it easier to just not go into that store? Or go grocery shopping with less cash in your pocket, and no cards? Or is it easier to ask someone else to pick something up for you, so you spend less? 

Everyone's got their different trigger points.  For me, I learn to avoid bookstores if I don't want to buy books.  It's just a lot easier than listening to all my convincing arguments about why I need a particular book once I'm in the store.  

But everyone's got different buttons.  It might be easier to not go shopping if you're not reading ladies' magazines, or it might be easier to spend less on food if you're not watching the food network.

If you have kids, you might find that your kids ask for fewer toys if you don't visit the toy section, or if you mute the commercials while watching TV.

These might not work for you. Experiment.

Next, remediate it.  Can you re-sell the item on eBay? Can you return it at the store? Can you apologize? If so, consider it. If not, get over it.

Now, move on. Get over it.  Quit bemoaning the fact that you now have something off eBay that you didn't really need or want and was damaged in shipping, and go do something else.  Something that distracts you. 

Maybe even treat yourself, for learning an important lesson. Not at the coffee shop, not at the bookstore.  Find a pleasant place to walk. Find a nice hillside with grass where you can sit and feel the breeze.  Go to the library and find a new author. Read something interesting online. Take a hot bath. 

And just don't make the same mistake again. If you're treating yourself well in other ways, you won't need to. 

A Word about Personal Finances

A word about personal Finances:

What you make is YOUR business. It isn't anyone else's.  It doesn't matter if you make 100,000 a year, or 50,000 a year, or 18,000 a year.  

What you spend (or not spend) is also YOUR business. Times are tough right now, but they won't always be, and for some who have kept their jobs and their savings, the economic downturn has been sort of a rethinking time period.  People have asked themselves, "Do I really need a fourth car, or can I get up a few minutes early to drive the kids to school, the way I did the rest of their education?" They're asking themselves, "Do I need an expensive birthday party every year, or do I get what I need out of getting some friends together to eat some cake?" "Do I want a bigger house, or do I actually, in my heart-of-hearts, get tired of cleaning it?"  "Would the money I save by not eating out offer more reassurance if it were in a savings account?" "Is it still worth taking that vacation if it means that I have to get rid of my magazine subscriptions, club membership, and Internet connection? If it really is worth it, then what do I fill my time with when I get rid of those less important items?" It's a time when people are doing some self-assessment, regardless of income level. 

People are re-assessing their status quo, whether they've lost their job or kept it. People are examining what is important, whether they can "afford it" or not. What you feel you can afford or save or spend is up to YOU. 

That being said, it's ok to not spend money even if you make more than your friends.  And it's ok to spend money (assuming you have it to spend) even if you make less than your friends. Your money is YOUR money; you don't owe your neighbors an explanation.  

That's why its called PERSONAL finace.  Because it's personal.

The Closet Frugality Snob

I was reading in Psychology Today the other day that snobs are not people who have expensive tastes, but people who just think they're better than others for whatever reason.

This may seem obvious, but we all indulge in our own little brands of snobbery.  For example, some people who drive cars feel like they are somehow superior (maybe because they've made better economic choices and can afford a car and gas) to people who are forced to take a bus, while people who take the bus might feel that they are superior (maybe because they are making better economic choices to live frugally) to people who hog the road with their cars.  Numerous examples abound, in our choices of fashion, neighborhood, or even grocery stores or reading material.

For those of us who are on strict budgets, are making significant cutbacks, or are successful in engineering major lifestyle changes in efforts to not spend money, it's easy to fall into a sort of snobbery because of the challenges we've faced and the successes we've mastered.  As I mentioned in a previous post, being cheap is supposedly chic right now, and even movie stars are flaunting their frugality in conspicuous ways. After all, if I walk to work, it's because I'm more environmentally conscious, not because I'm cheap.  If I shop at a thrift store, I'm more frugal than someone who shops at Nieman Marcus, and I can take comfort in the fact.  If I forego dinner out with friends, then I can feel good about the fact that am more self-sacrificing, or have more self-control than those who went. I write a blog about not spending money; obviously I feel like I know more about than those who don't write blogs and buy candy instead.

Of course this type of thinking is ridiculous, and it's a dangerous pattern to fall into, no matter how good it makes you feel.  Of course we all need motivation, and if we are depriving ourselves to fit within our budgets, then seeing that path as superior is tempting, to say the least.  It's human nature.  But since it's human nature to be just a bit snobby about our choices, it's all the more important to realize when its happening and call ourselves out on the fact.

Spending money (or not spending money) is ultimately about choices. Everybody will find a slightly different balance between their spending choices and their saving choices.  If I choose to be miserly on bath accessories but indulge in second-hand electronics, does that mean I am being more frugal than someone who frequents happy hour but never buys books? Of course not, but when we make that choice and are subsequently left at home during the next night out, it's easy to make inaccurate comparisons. 

If you are a closet frugality snob, try seeking encouragement by talking with others and getting ideas by listening to their saving choices, rather than listening to their spending choices and letting yourself feel superior. 

Ok, I'm done preaching for now-- I'm off to laugh at all the people who don't save for retirement. 

The Wonders and Perils of Macaroni and Cheese

The Light Side of Mac n Cheese

There is nothing quite as comforting as sitting down to a nice, warm, cheesy, substantial bowl of macaroni and cheese (the kind from the blue box, not the goopy stuff that real cooks make) after a long day, especially when you know that your entire meal is costing you about 70 cents, instead of in the $3 range that other inexpensive meals can cost. 

MMMMMmmmmmm, mac n cheese.

We all ate it as kids. It's yummy. It's hot. It takes about zero brain cells to make when you're tired. It costs less than a dollar a meal. Cleanup is easy.  What's not to love?

Some tips and tricks for mac n cheese:

•  Ignore the recipe on the box. If you want to add butter and milk like they suggest, add it to your own taste.
• Adding less butter and milk means it has fewer calories.
• You can forego the butter and milk entirely and it tastes about the same. This is a good option if you don't have any, if you don't want to buy any, if you didn't plan ahead, or if you don't have a fridge. 
• You don't have to refrigerate the blue boxes
• Important! When buying mac n cheese, make sure that the 5-pack doesn't actually cost more than buying 5 individual boxes.  Hint: If the 5-pack is over 5 dollars, you're spending too much. Go buy real food instead. 
• Having mac n cheese on hand means that you'll always have a meal at your fingertips.
• Mac n Cheese doesn't count as real food if you have guests. At all. Put it back in the cupboard. 
• Ignore the recipe instructions for amount of water and time cooking.  Just put in "some" water and cook it until it "tastes right".  You'll get used to the amounts after a few boxes. This way you can use a smaller pot and not need to take the extra effort to use a timer.  It makes cooking even more brainless.
• When you put your mac n cheese in a bowl, put water in the pot immediately or the cheesiness will be harder to clean off. You can let it soak while you're eating it, and then cleanup is super easy.  Or, you can eat it right out of the pot, but this seems a little brainless, even for me. 

The Dark Side of Mac n Cheese

According to dieticians everywhere, Mac n Cheese does not count as actual food. It should say this on the box somewhere, but I'm pretty sure it's FDA approved anyway. Even though pastas and grains are that giant base on the food pyramid, living on an all-carbs dinner plan is not good for you over time.  There are no other nutrients worth mentioning in Macaroni and Cheese (unless your personal recipe calls for a lot of brocolli and spinach) and you will be starving yourself over time even if your belly feels full. Eating it once in a while, like at the end of the month when your finances are low and you're eating food out of your cupboard, is a great way to make some extra dollars stretch, but be sure and read the Nutrition Facts on the box and know what it is that you're not getting. 

It's not the only cheapo food that people can eat in tough times (Ramen noodles get all the glory), but it's worth mentioning. 

And worth maybe stocking a few boxes, just in case. 

Use it Up

If you're like most people, you have several bottles of shampoo/conditioner/body wash/etc lining the wall of your shower.  If you share a bathroom with housemates, you might have a tidy little collection for each occupant. You might even have a drawer somewhere just chock full of little shampoolets "in case guests come by". 

If you are strapped for cash for the month, or are fitting more people into your house due to budget constraints, you might want to consider this REVOLUTIONARY new way to consume your shampoo:

Use it up. One bottle at a time.

Pick one. It doesn't matter; you bought them all, right? So pick a shampoo bottle and put the rest in the closet. Use the bottle of shampoo up. The whole thing. Then throw it out. Then go into your cabinet and get another one. Then use that up. You may be surprised at just how long you can last without buying new shampoo. Or, you may be surprised at how clean your bathroom feels without a bajillion bottles of shampoo. 

I know, I know, some hair types require special treatment, etc, and it is absolutely neccessary to have multiple bottles of stuff costing over $25 that you rarely use.  If you have this hair type, this does not apply to you. But for the rest of us, we can think of it not as foregoing a luxury but systematically using all the products that we've splurged on over the months.

You can also use this type of thinking for other consumables in your home:

• Sort your cupboard by expiration date and use up all the canned items before buying any new ones
• Put all your teas and coffee packets in a pretty basket or bowl (or corner of your cupboard) and use them all up before buying refills
• Take inventory of your gift wrapping and use up existing wrapping before buying new stuff
• Organize your bookshelves by what you have or haven't read yet and read all your existing books before buying new ones (ha, yeah right.)
• When you do a project, make alterations to the project to take advantage of the supplies you already have rather than buying new ones. For example, if your project requires glue, do you need to go out and buy glue sticks, or will the white glue work? Will the black thread work as well as the gray thread? It's up to you.
• If you are the sort who keeps several notecards on hand for occasions of any sort, select one from your existing collection rather than purchasing a special new one every time.

This idea may either seem super obvious (Of course I'd use up the ten Kleenex boxes in the house before buying another one!) or super impossible (Why on earth would I wear one pair of strappy black heels into the ground before buying another pair?) depending on who you are, what you like to keep in reserve, and what you enjoy buying. It's really all up to you.