Category: Money

May 7th, 2013 by Lisa

7. Look for specials, buy in bulk, stock up on bargains.




This might seem like an obvious tip, but it never hurts to state the obvious.  If you can save $2 on toilet paper, why not save $10 by buying 5 packages?  How much toilet paper would Sheldon Cooper buy if it was on sale for $2 off?   I’m sure if you asked the astrophysicist his answer would be a very logical one.

But I digress…if the toilet paper is a deep discount, don’t buy just one package, if you have the room, buy several and put them in your closet and forget about them until it goes on sale again.    You can do the same with freezable goods like meat, and long shelf life items like cheese.

Avoid paying full price for clothing.  Unless you need to buy a uniform for work, chances are you have a variety of selection available to you.  Shop around, and you’ll find something that you love as much as the expensive designer model for a fraction of the price.  And if you’ve got a second hand store in your area, it can be a great source of clothing bargains!

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May 6th, 2013 by Lisa

6.  Use someone else’s money to pay off your debt.




I’m not taking about your in-laws or a benevolent benefactor.

If you have an extra room in your house, find a room-mate.  If you’re buying a house look for one with a flat or apartment built in.  This is the fastest and easiest way to make your mortgage disappear.  Don’t use the money for other things, slam it on your mortgage and watch your mortgage term dwindle down.

Why use your own hard earned money to pay down your debt, if you can get someone else to pay it for you!  I had a friend just after college who had enough roommates to pay his mortgage and all his living expenses.  Yes there were 4 of them living in 1 house, but he didn’t have to work to pay his housing costs!  That’s right!!  All he needed was a part-time job for discretionary spending.

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May 5th, 2013 by Lisa

5,  Make a car payment.

Save money by making a car payment!


“Wait a minute, I thought you wanted me to pay off my car loan?”  I hear you…That’s what I said.

So, now that you’ve got your debt under control it’s time to start thinking forward.  You’re paying yourself first and accumulating an emergency fund and a nest egg.  So, now is the time to start thinking about avoiding future debt.

Imagine that in 3 years you’re going to need a new car.

Right now I want you to put aside 1/36 of the cost of the car each month.  Put it into a special savings account ear-marked for your next car.  So, let’ say that you want to buy a $10,000 vehicle in 3 years, that means that you should be putting aside $277 a month towards your next car, so that when the time comes to buy a car you’ve got the money in the bank just waiting for that perfect deal to come along.

If your dream car is not affordable in 3 years of “car payments” then perhaps you should rethink the practicality of buying it, or add lotto tickets into your monthly budget!

Once you buy the car, don’t stop there!  Continue to put the same amount away in your car fund every month, as if you’re paying a lender for it.  And use that money for surprise repairs, new tires and other  major car expenses.  Hopefully you’ll get 5 years out of your car, and have plenty of money in your car account to cover the next beauty!

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May 4th, 2013 by Lisa

4. Use your credit card wisely.

Beat credit card debt!


Credit cards are convenient and they are a good way to develop a positive credit score.

But, and this is a big “BUT”…. only if used properly.

If you use a credit card, don’t buy anything with it that you would not pay for with cash.  And….and this is a big “AND”…pay it off monthly, never have a balance carry over from the previous month.  Credit card interest rates are ridiculously high and as soon as you miss your payment, or leave a balance unpaid, they charge you interest on the amount going back to the first purchase you made during that billing period.  And any balance that remains unpaid compounds the interest.

Only use your credit card if you have FOR SURE got the money to pay the bill.  If you’re not sure, don’t buy it.

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May 3rd, 2013 by Lisa

3. Eliminate Debt.

Beat debt now!


If you have credit card debt, a car loan, a student loan, or a mortgage you are paying money to someone else for the privilege of using their money.

One of  the smartest things you can do after paying yourself is to pay off your debt.

Start with your highest interest debt and chip it away with any spare coin until it’s gone.  Then apply that whole payment amount to your next highest interest loan.  For example if you have a car loan, a student loan, and a mortgage try this:

  • Put an extra $50 a month on your car loan until it’s paid off.
  • Once your car loan is paid off, pay your entire car loan payment  (including the extra $50) on your student loan, that’s right I’m saying add $300 a month to your current student loan payment, this might double your monthly repayment on your student loan, maybe you’re paying $600 a month now on your student loan.
  • When your student loan is paid off, take the $600 a month and put it on top of your mortgage payment.  So maybe you’re paying $1600 a month on your mortgage….You’ve been paying $1600 a month in debt servicing all along,  but now you’ve eliminated 2 bills: your car loan and your student loan.  That extra $600 a month will go directly toward principle repayment and will slam your mortgage down faster than you can imagine!

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May 2nd, 2013 by Lisa

2.  It’s YOUR money, make sure you keep some for yourself!

Think about it.

It’s YOUR money, so you should really make sure you keep some of it.

A good rule of thumb is to put 10% of everything you earn into a separate savings account.  Be diligent.  Be vigilant.  Without fail.  Once you’ve acquired “3 Months Salary”  this will become your ‘Emergency Fund” (for a roof…furnace…car repair).   This should take you about 30 months to achieve.  If you make $2000 a month, then you will have amassed $6000.

But don’t stop!

Continue to pay yourself first indefinitely and this will become your nest egg.  And at the rate given above you’ll be tucking away $12000 every 5 years.  If you start this young, and increase it with your increased earnings you will create a very comfortable cushion and a real sense of accomplishment.

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May 1st, 2013 by Lisa

There are a few pearls of wisdom that have helped me be successful when it comes to money management.  I’m going to share those with you during the next series of blog posts.



1.  Live below your means.

This is something that began with my grandfather, and maybe his father before him.  My grandfather was bringing children into the world during the depression.  He had it tough.  Living below his means meant that he was able to tuck a little bit of money away every month.

By following this piece of advice, you will set yourself up for financial success.

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August 10th, 2012 by Lisa

Some people are content to let things flow in their own course and time, and others will move mountains to make things happen.  Emi from Hectanooga ~ I didn’t make that word up, that’s where she’s from ~ is the second kind of person.

Emi from Hectanooga Crochet Tutorials Patterns Free Blogspot HectanoogaPatterns

A retired woman, in her late 60′s, would have every reason to coast along in life.  Every reason to kick back, and not spend time  learning new things or forging new paths.  Right?  Most people would answer ‘yes.’ Retirement is the time to take it easy — Not so for Emi.

She saw retirement as an opportunity to buy a new computer, to learn about the power of the internet, and to develop her crochet hobby that began as a young girl – A girl who lived in Hectanooga, which was “so far in the woods that you had to come out to go hunting.”

What Emi did is astounding.  She took a computer, the internet and her love for crochet and design and she turned them into something bigger than all of them put together.  She has become a YouTube Mogul.

On March 23, 2011 Emi uploaded her first video to YouTube and today, 17 months later,  she has over 12,000 subscribers and nearly 5,000,000 video views.  Holy Cow! She’s recently started a blog to compliment her youtube channel.  Check it out here,  it’s called HectanoogaPatterns.  On YouTube and on her blog she teaches people to crochet and posts free patterns for items she has designed so people can make them for themselves.  How awesome is that?

I’ve asked Emi to write a guest blog post for me, look for it soon!  Have you ever watched one of her videos?
The Guest Post can be found here.


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