|
By Kevin Gibbons
In our book Living the Savvy Life, we devote a full chapter to managing your pantry and cooking.
One of our favorite mantras is “the most expensive food is the food you throw away.” A corollary to this mantra may be “the second most expensive food is the food that sits in your cupboard and is never used.” This is such an important concept, that we issue quarterly “Pantry Challenges.”
The idea behind these challenges is to see how long you can go without buying staples, and living off what is in your pantry. Many of us have hidden inventory tucked away in our cabinets. By doing these periodic purges, we find these hidden items and use them, maybe learning new recipes or at least learning never to buy that particular item again. We have had readers go as long as 3 months living out of their inventory of food, buying only those fresh items like milk and eggs.
It is pretty easy to figure out how to use items like dried pasta, cans of soup, rice and beans. But what do you do when you have a can of peaches, some cornmeal and dried cranberries? Like virtually everything else in the world, “there’s an app for that.” Actually, there is a Public Radio program for that. NPR’s Morning Edition has started a new feature called Cook Your Cupboard. You simply post a picture of the contents of your cupboard, and their experts and readers will offer ideas on recipes you can prepare to use your varied ingredients.
Your pantry is more than just your kitchen storeroom. It is also an investment, representing hundreds, and in some cases thousands, of dollars of your money. A good investment is one that provides value for the money you put into it. A poor investment is one that just sits there, tying up your money, or even losing it as the value decreases. Make sure your pantry represents a good investment, containing supplies that are turned into valuable meals. As you refine your pantry’s contents, use resources like Cook Your Cupboard to help you make those meals. You may even find a new favorite recipe!
|
|
|
By Melissa Tosetti
Every day we come upon opportunities to put money toward our Emergency Savings and Retirement Accounts. It’s just that we don’t always see the opportunities.
If you’re one of the millions of Americans who will receive a tax refund this year – opportunity is going to knock on your door!
Consider saving, at the very minimum, 20% of your tax refund.
If you have less than a month’s salary in your Emergency Savings Account, I suggest focusing the money there. If you do, then a portion can go to further build your Emergency Savings Account and the rest can go toward your Retirement Accounts.
Saving money is a habit. If you get into the habit of saving 20% or more of “windfall money”, you’ve created a very healthy financial routine.
|
|
By Kevin Gibbons
In our book Living the Savvy Life, our number one Savvy Habit is “Pay Yourself First.” This means to be sure to actively set aside money to save every pay period. If you are doing this, congratulations! You are on your way to financial independence and living well on the money you are making right now.
Sometimes, however, it isn’t always enough to just set up an automatic transfer to a savings account. You need to make sure that you really are saving the money you are setting aside as savings. What does that mean? It means that you have to take a little time to understand how your savings account works.
Recently, Ann Carrns wrote in a blog in the New York Times about how she received a warning that she was making too many withdrawals from her savings account and that this bad behavior could result in her account being closed.
Did you know that federal regulations say you cannot make more than six withdrawals in a month, and that transfers between accounts count towards that maximum number? Ann didn’t. Read her blog to see how she addressed her problem.
Between federal regulations and bank policies, there are many rules to understand when managing your money. It can be challenging to negotiate the many rules and policies, but failing to understand them can cost you money.
In many cases, making a few simple changes, or avoiding a few specific practices can make the difference between seeing your savings grow and seeing it eaten up by fees and penalties.
If sorting through the rules is overwhelming for you, don’t despair. Find a knowledgeable advisor or friend you trust to help explain things to you. As we approach the tax deadline, now is a perfect time to ask for advice from your tax preparer or other financial advisor. In many cases, you can go to the accounts manager at your bank and get the answers you need.
Ann’s experience is just one case of how good intentions can be compromised by an honest misunderstanding. The lesson here is twofold: First, just as you need to actively set aside the money to save, you also need to actively understand how your accounts work, what charges are incurred and why, and what alternatives exist; and second, when you get those e-mails and paper mail notifications from your bank, be sure to read them!
|
|
By Melissa Tosetti
A week and a half ago, Paul and I hosted a party at our house. We are blessed to have a group of friends that love to cook which is great, but by the time the party was over, we had more food than when we started. I had gone to bed before the last of the die-hard party goers left, so Paul was kind enough to put the leftovers away.
I like to think of myself as easygoing, but there are certain things that I'm Type A about - one of them is having an organized refrigerator. I like leftovers on a certain shelf to ensure we see them and they get used. Condiments on another shelf, eggs in one area and so on.
I am grateful that Paul was conscientious about wrapping up the leftovers and putting them away, but organization isn't as big a concern of his, which is fine. The problem is that I never took the few minutes it would take to straighten out the refrigerator so we could see everything. It had been a busy week as I prepared for a whirlwind business trip to Seattle and I just kept putting it off.
I got back from my trip on Wednesday night and yesterday morning when I opened the refrigerator to make Dante pancakes, I felt as if the entire contents of the fridge was going to avalanche on top of me. It was a mess!
I started to clean it out right then and there. Although we did a decent job of eating down the party leftovers, there were day-to-day leftovers we completely missed because they were hidden - sadly, about four meals worth. That, and the leftover cream cheese frosting from the Guinness cupcakes I made which was a tragedy!
The experience was a reminder to me that you can't eat what you can't see. I'm happy to say that the refrigerator is once again in order.
|
|
Getting your money in order doesn’t have to be an overwhelming or traumatic process.
The Savvy Money Starter Kit can get you on track in 7 days or less by giving you step-by-step directions for organizing and streamlining your finances in the simplest, least stressful way. In just 7 days you’ll have your foundation in place and then you can focus on the fun stuff!
Day 1 – Leverage: Why You’re Doing The Program
Day 2 – Get Organized
Day 3 – Define Your Monthly Expenses
Day 4 - Plug Your Financial Leaks
Day 5 – Reduce Your Monthly Expenses
Day 6 – Debt Reduction Plan – Fix It and Forget It
Day 7 – Track Your Spending
Each day's task will take less than 30 minutes and you will receive emails reminding and encouraging you to get it done. You will also receive follow up emails over the course of the next few weeks to keep you on track and ensure your new Savvy Money routines become habits.
The Kit also includes a Bonus section on ways to Make More Money which is especially helpful any time of the year!
The Savvy Money Starter Kit is just $9.95 and ready to download right now. If you are not happy with the product, let us know within 30 days and you will receive a full refund.
|
|
|
|
|
<< Start < Prev 1 2 3 4 5 6 7 8 9 10 Next > End >>
|
|
Page 3 of 215 |
