Budget Archives - The Happy Homeowner

Shameful Things I’ve Done to Save Money

Posted on May 8, 2013 by Jen

The other day, I was ~~trolling~~ reading through the FinCon13 Facebook page, and I saw a post from Stephanie at The Empowered Dollar where she was asking people to share the most embarrassing things they’ve done to save money for her upcoming Confessions of a PF Blogger post.

This first made me think of my own Confessions of a PF Blogger series I started over two years ago to chronicle my financial past. Then I began to think of all of the wonky things I’ve done over the years to save a few bucks. From the cringe-worthy to the surprisingly common, here’s where my bad behaviors fall on the shame scale when it comes to saving money/pinching my pennies:

Loading up on Freebies

A lot of people responding to the FinCon FB thread mentioned loading up on free food samples while grocery shopping in lieu of paying for a meal (so have been there, done that). Some also mentioned swiping extra condiments and disposable silverware/napkins from fast-food places (yep, totally have done that before!), while others mentioned taking full advantage of buffets to line their purses or backpacks with snacks for later (what, I can’t take 5 bananas with me?!).

While I’ve done most of these, I think my mecca of free comes in part from the various sporting events I participate in. Race expos can be a gold mine of great stuff for free if you’re savvy and not shy. I’ve flat out asked for free, full-sized samples and products–and I’ve usually been rewarded for my boldness! The most shameful haul I ever pulled in? 5 pairs of brand-new Asics athletic socks that retailed for $13/each.

I was at a race and afterwards a woman put out a few cases of merchandise for the runners who were left to take home with them. I politely took my one pair but as I was turning to walk away, she grabbed my bag and stuffed in a few more pairs, saying, “Go ahead honey, take more!” I sheepishly accepted (feeling a bit odd yet elated because I really needed new socks), and I scurried my way back to the parking lot.

Estimated savings on socks, goo, drink mixes, energy bars, and even apparel: $1,000 and counting.

Milk the Student Discount

It’s no secret that I love to learn and that I’ve been pretty savvy with finding creative ways to finance my education. What’s been a bit of a secret is that I was flashing my student ID card for discounts years after graduating. I’ll admit that it’s still quite tempting to do even today, but I resist that urge because I don’t want to abuse the very programs that allowed me to have a social life when I had no money. That being said, I did get into some museums in Europe for free within the past 3 years thanks to my grad school ID. Oops!

Estimated savings on museums, concerts, travel, meals out, and other fab student-only freebies: $600+

Postpone Gift-Giving Plans

Now we’re starting to enter the real realm of shameful. Back when I was in debt up to my eyeballs, I spent two years delaying my Christmas gift giving until after the holiday had passed. Why? Because I couldn’t afford much of anything that I was used to giving people, so I waited for the after-Christmas sales, I combined the sale items with any gift cards I had received, and I bought everyone’s presents on the cheap.

Looking back, I could have just made things or given my time or even cooked/baked/cleaned for my family members. I now realize that it doesn’t matter what you give as long as you’re doing it with good, loving intentions. I no longer tie my own self worth to the extravagant gifts I can shower people with–I’d much rather just have a conversation or spend some much-need Quality Time with them!

Estimated savings after two Christmas seasons of belated gift-giving: At least $500.

Hitting the Gym for Free

In the past, I was a master of utilizing the “try before you buy” incentives at local gyms, yoga studios, and bootcamps. I was a serial gym goer…but only if it was free to me. I’d happily give out my name and spam email address, and I eagerly listened to the salesperson’s script for however long it took me to get that week-long (or even month-long) pass. Granted, this was years ago and today I don’t even go to the gym because I prefer to run/workout outside, but I shudder to think of how many places I’ve skipped out on when it came time to enroll in a paying membership.

Estimated savings through 3 years of gym hopping for free passes: $800+

Returning Clothes After I’ve Worn Them

OK, I did this once. But in my current book of financial security, once is too much. Now we are knee-deep in the arena of shame. Back when I was interviewing for grad schools and new jobs in Boston, I needed a new suit. With a pile of maxed out credit cards and only a few dollars to my name, there was no way I could buy a suit no matter how bad the need was–even if it came from a thrift store.

So what did I do? I marched into the local mall, picked out a gorgeous suit, pinned up all the tags, wore it for my interviews (all in one day thankfully), then returned it the next week. Graceful? Certainly not. Shameful? Absofreakinlutely.

Estimated savings on new suit: $350

Turning a New Page

Thankfully, I’ve come a long way since my days of ridiculous debt and living as a financially clueless wonder. I’m proud to say that I don’t do any of this stuff anymore, but I certainly wouldn’t judge someone who needs to because I understand firsthand how rough it can be to make changes in your financial world.

That being said, it’s a lot easier on your pride if you simply plan for expenses, save up for them in advance, or have an e-fund for those little surprises that can wreak havoc on your budget!

So let’s hear them: Spill the most shameful things you’ve done to save money!

Is Your Makeup Eating a Hole in Your Budget?

Posted on April 24, 2013 by Jen

Recently, I had the pleasure of spending some serious girl time with a friend of mine. The day was filled with lots of adventure, good food and…shopping. While were in the mall, my friend wanted to head to Sephora. I have only ever headed straight to the skincare section of the store, but I tagged along this time as my friend was perusing the lipstick options. As someone who is naturally drawn to most anything that sparkles, I randomly picked up a shimmery eye shadow. As I turned it over to see the price, I was floored.

$16 for eyeshadow?! How on Earth is this an acceptable price??

The Cost of Looking Good

A few weeks ago, I wrote a post where I speculated about whether or not looking good costs money. In it, I talked about the ways I save money on maintaining my appearance and how I value a more natural look that inherently costs me less overall. The comments from my post were excellent and enlightening–it was interesting to see each person’s opinions about their personal grooming/appearance maintenance spending.

Among the top things mentioned were haircuts and makeup–both of which can be extremely pricey. As I thought more about the concept of spending money to look good, I began to wonder how these expenses can be pared down. When it comes to your makeup routine, there are plenty of ways to fit your wants and needs into a balanced budget.

Invest Wisely

If you’re going to buy and wear makeup as most of us ladies do, make sure you’re spending your money wisely. This means learning when you can skirt by with a less expensive option–and when you need to splurge a bit. A general rule of thumb is to invest in items you’ll have for a while such as makeup brushes as well as those that are applied directly to your clean skin (foundation, primer, sunscreen).

As for those items you can definitely spend a lot less on, this category should be reserved for items that have a short shelf life such as mascaras and lipstick and those that are fad-driven such as eyeshadow and liners.

Try Before You Buy

The cosmetics world is filled with freebies, samples and promotions. You just have to find them or ask for them. Brush up on your negotiation skills or work on being less timid by approaching the person working at the cosmetics counter and asking for a sample or two of any product you’re thinking of buying.

I’ve personally done this with almost all of my skincare items, and I’ve found that sometimes the sample sizes vary. If you’re very polite or have an existing rapport, the person is usually happy to slip you the larger sized item free of charge!

Stretch it to the Limit

Prolong the life of your products by taking care of them. Whether it’s washing your brushes regularly or storing your foundation and nail polish in the fridge to help them maintain their consistency, there are plenty of ways to stretch your beauty dollar further.

When you’re nearing the end of a product, get creative about making it last even longer: Move loose/broken eye shadows into individual containers (old film containers or pill boxes are perfect options), melt the last of your lipstick down and put it in a pill box (you can also add a bit of Vaseline during the melting process to create a custom gloss), and use a damp Q-tip to get every last bit of product out of the original packaging.

Use it Before You Lose it

Pay attention to expiration dates and always check your stockpile before adding something new. If it’s time to buy something new, ensure you’ve already checked all of your purses, suitcases and travel bags for any duplicates you might have on hand. When you do decide to make your purchase, remember to take advantage of any frequent buyer programs, coupons or promotions the store might be offering.

How do you save money on makeup expenses?

Managing Your Finances in the Wake of Tragedy

Posted on April 22, 2013 by Jen

First of all, thank you so much for the supportive comments, tweets and emails during last week. While things have calmed down quite a bit after the bombings, shootings, car jackings and neighborhood hunts of last week, there’s still a lot of healing that needs to be done in both the Boston and running communities. Your kind words, thoughts and prayers have been well-received–it’s truly the spirit of resilience and camaraderie that has pushed all of us through such a horrific time.

Out of respect for what was happening and in part because I was struggling with a writer’s block the size of Texas, I chose to forgo my typical publishing schedule last week. However, today marks the beginning of a new week and there’s no time like the present to get back to business.

In light of the things happening here in Boston, I wanted to focus today’s post on what to do with your finances when you’re faced with processing a tragedy. If there’s anything I learned during this time of pain in my city, it’s that challenge and tragedy can strike in an instant, without warning.

If you should find yourself dealing with your own tragedy–no matter if it is illness, accident, the death of a loved one or a terrorist attack or natural disaster in your own neighborhood–there are ways to keep moving forward in a financially sound way.

Keeping Your Financial House in Order When Your Emotions Take Precedent

When all hell is breaking loose in your personal life and/or around you, it can be really hard to maintain your financial resolve. Rather than shirking all semblance of financial responsibility and creating an epic mess for when you do move on beyond this storm, consider the following tips for keeping your emotions–and your bank balance–in check:

Turn Off the News

At some point last week, I literally pulled the plug on my TV. I also slammed my laptop closed and shut off my phone. Why such a dramatic fanfare? Basically, the more I watched played out before me in the media, the more my emotions threatened to take control of me (rather than me controlling them). With each new gruesome photo of carnage or depressing post of a friend on Facebook, I grew more and more attached to the drama that was unfolding all around me. By shutting off my connection to the media, even temporarily, I was able to gain some much-needed time to clear my mind and regain my focus.

Give Yourself a Break

If a tragedy strikes, know that it’s OK for your normal routine to go out the window. In fact, I’m willing to bet that it will be nearly impossible to continue on as you usually do when faced with such a challenge. Rather than fighting what’s happening and how you’re feeling about it, allow yourself to slow down and focus on what’s most important.

Put Your Budget Aside

Yes, you read that correctly. While I’m not advocating a green light to spend yourself into oblivion, it might be necessary to take a small hiatus from the number crunching and just enjoy the time you can spend with your loved ones. Connecting with those who you are near and dear with will do so much more for you than balancing your budget!

Automate It

During any crisis, there comes a time when you must focus on the logistics and details of everyday life. Take advantage of this time to automate any bills or savings transfers. Essentially, you should set it and forget it temporarily so you’re free to attend to your emotions, your loved ones and your well-being.

Reach Out

If you’re going through a difficult time, no matter what it is, now is not the time to isolate yourself. Reach out to your friends, your family and your neighbors. Find those that you connect best with and spend time with them. Talk about what’s going on, what’s bothering you and your future plans for fun. Grieve together rather than alone and your time for healing will be much less than if you push yourself to go it alone.

Confirm and Protect

In the case of a tragedy where insurance could be necessary, make sure to check your coverage and have an open dialogue with any agents who can help you streamline a claims process. Also, protect yourself by shredding any unnecessary documents that contain personal information and take care to properly store those you may still need. Unfortunately, during times of crisis, there is a larger chance of thieves prying on the victims of the tragedy. You can also protect yourself and your identity by fully vetting any opportunities that come your way.

What are some financial management tips you’d offer to those currently dealing with a tragedy?

I Freak Out When My Inbox is Empty: The Trials & Tribulations of Freelancing

Posted on April 10, 2013 by Jen

It’s been about two months since I quit my full-time job in order to pursue my dream of being my own boss. As most of you can tell from March’s insane income, things are going quite well. I’ve written about how I have a plan to keep moving forward and how I have framed all of this with the mindset that online income is highly variable.

I’m literally taking it week by week, but I haven’t really mentioned the other side of freelancing; the side that causes me to freak out a bit any time I check my email and find my inbox to be empty.

The Dark Side of Freelancing

While it sounds amazing to be your own boss on the surface, there’s a dark side to all the new-found freedom that comes along with being a freelancer. Of course you understand that if you’re not working, you’re not making any money. What might be a little harder to understand is how it actually feels to strike out on your own. Here’s a bit of what a typical week feels like in terms of the emotions and stressors that are packaged with the great opportunity to be the boss:

Monday morning (checking emails after unplugging on Sunday): Yes! Look at all these emails! Time to respond to that, time to negotiate this, make a note to get to work on project A, send off final approval for project B. Etc, etc, etc. Wow, my to-do list is huge!

Monday evening (after checking email about 30-50 times throughout the day): Damn, why don’t I have any emails about work in here? Great, another email from Pinterest to remind me that I have no clue what I’m doing when it comes to using that site. Refresh. Ugh…nothing still?

Tuesday morning: Yay, the UK emails came through! Rinse & repeat Monday morning’s routine.

Wednesday afternoon (despite having a busy AM): Sheesh! It’s sure quiet here today. Check budget. Hmm…I need to make X dollars if I want to fulfill that goal. Time to reach out to some people in hopes of drumming up work. What if I don’t make any money this month? What if I can’t pay my bills? Ahhh…I’m spinning! Time for a run to clear my head. Come home to an empty inbox and proceed to freak out all over again.

Thursday: CRAZY day. Close enough deals to make an extra $2,000 this month. Life is good. Why was I worried yesterday?

Friday: TGIF! Yesterday was awesome. Now it’s time for the weekend. Things will continue to pick up next week…or will they?

Freelance Work is Up, Down, All Around

What I’m trying to illustrate here (perhaps not so eloquently) is that freelance work is up,down and all around. No day is the same, which is why I love it so much. Unfortunately, no day being the same can also mean insane amounts of wondering and questioning–even when things are going well.

If you’re considering becoming a freelancer or striking out on your own in some way, you need to have a solid foundation to ensure you’re able to withstand the roller coaster ride that even a typical week entails. This means taking care of both yourself and your business.

How to Handle the Ups and Downs of Freelancing

You need to have a plan–one that’s in place far before you pull the trigger on your decision to become your own boss. Your plan should include aspects of self-care, networking, professional development and much more. Here are some tips for how to manage the ups and downs of freelancing in the best possible way…

Take Care of Yourself

First and foremost, if you’re not taking care of yourself, you won’t ever reach your full potential. You need to be exercising, eating well and getting enough sleep. Doing so will mean you’re better equipped to deal with all of the challenges headed your way. I know that when I’m not sleeping or not exercising, it’s far too easy to “get in my own head” about what’s happening with work. Practicing consistent self care helps you keep more of an even keel when you find yourself on that roller coaster of confidence and second-guessing your efforts.

You also need to ensure you’re maintaining your social connections, especially if you’re doing most of your work online. Isolation might be a by-product of the first few months of striking out on your own as you adjust to new schedules and new demands, but it’s not a sustainable way to enjoy your life. Make sure to schedule time with your family, friends and acquaintances. Sometimes all it takes is a quick run or dinner with a friend to recharge your batteries and refocus your efforts but don’t discount taking a vacation, too!

Take Care of Your Budget

My budget is the largest source of stress for me as a freelancer. Months ago when I was contemplating making the jump, I started budgeting for what I anticipated my income would be. I also paid off almost $16,000 of my student loans to free up more of my monthly cash flow, and I pushed myself to save as much as possible so I’d have a nice e-fund to smooth the road should it become rocky.

Right now, I’m concentrating my efforts on aggressive annual goals that will help me continue to build a strong financial foundation. While I’m still traveling and living my life, I’ve cut back on dining out and other frivolous spending in an effort to trim my expenses as much as possible. I also have set my monthly budget sheets for the remainder of the year based on the guaranteed income I will receive.

This way, if I get too freaked out on a particular day, I can easily open Excel and reassure myself that even if nothing “extra” comes in, all of my bills, my retirement, and my long-term savings are covered. Having a plan for the future months puts me at ease and helps me sleep at night!

Mind Your Network

I’ll write some future posts providing more details, but I’m fortunate in that most of my work and projects have been secured through people I’m working with or those who I’ve worked with in the past. I’ve cultivated a small yet strong network of bloggers, freelancers and website owners over the past two years, and I’ve been able to tap that network to market and communicate about my services.

If you don’t have a strong network and you’re planning to strike out on your own, make some changes and hold off on taking the leap until your network is in place.

Quality Over Quantity

I pride myself on my ability to deliver high-quality work on-time and at (or under) the budgets my clients set. I’ve been told that I’m true to my word and dependable and those are honestly some of the best compliments I could wish for as a freelancer. I know my limits, and I’m careful to openly communicate with each person about any scheduling conflicts or surprises that might pop up along the way.

Sure, I’ve made some mistakes and I’ve done some bone-headed things (how about getting distracted on Facebook one day and forgetting to send someone the link for their post? Oy!), but I am prompt with an honest explanation and I work hard to not repeat the same mistakes.

Find what works for you and stick with it–your clients will appreciate a person who deliver high quality work a day or two slower than someone who pumps out horrendous articles or posts without a second thought.

The Happy Homeowner

Living a Healthy, Balanced Life One Cent at a Time…

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