Before 2010 Ends

Wow, it seems time does fly by so quickly...more so when you're having fun. I just realized that I have not updated this blog for more than one year!

Since I did not post anything in 2010, I think it is not yet too late to put 2010 into perspective before it ends. When it comes to being frugal and making wise financial choices, I find that the struggles of 2008 that continued on for the most part of 2009 opened my eyes. Heck, I talk about being frugal, but do I emanate the ideals? Furthermore, is being a tightwad only means penny-pinching, looking for deals, sales, etc?

I learned from past experiences that if you find a sale, it's only good if you're going to use it. However, at times I am guilty of buying items on sale thinking that it will be put to good use "someday." Unfortunately, "someday" does not happen often that my so-called "sale" was just an extra wasted expense. This awakening gave me the chance to reassess my ways and learn the real value of sales. Now, I don't buy things simply because they're on sale, but because I really need or use them.

I still continue to avoid the malls and retail shops. I avoided them like plagues in 2009. The more I don't go, the less I spent. I try to get my husband and daughter to do the same thing. We paid cash on all our purchases, so it was necessary to really avoid places where we may get an urge to spend. They have improved, although, many times they still could not resist going. They're a work in progress. I know that for me to be successful, the change does not only have to happen with me...it should be our goal as a family. I am sure together we can make better progress.

Don't get me wrong, they try. We have our movie days and eating out days. We pick the movies that we'll watch at the theater and wait for others to come out on DVDs. We rent ones we don't think will be keepers, we buy only those we think would be good to have in our collection. We often buy them on sale, at the cheapest stores (often at Walmart).

When we have to buy food at drive thrus we only buy the meals and skip the drinks. We bring our drinks in the car, sometimes, our own snacks too. I cook more these days. It saves a lot of money. In addition, eating at home is healthier too.

I will enter different topics of savings we have done in hopes of helping others save up too. Topics such as switching cell phone carriers, discontinuing our landlines, etc.

Summing it all up, the latter part of 2009 was much better than 2008. In 2010, we have also gotten better than the years before. I am hoping that in 2011...we'll do triple times better in order to live almost debt-free.

Doing Things Our Own

Owning a brand new home as its advantages and disadvantages. For one, everything is brand spanking new, which means they have a longer lifespan than older ones. Appliances are still covered by the manufacturer's warranty and some of the building related repair issues are covered and handled by the builder. The disadvantages? Well, you're working on a blank canvas. It's good if you are an avid DIY-er. Gardening projects are a pain--both on the muscles and wallet! I now remember why I prefer buying second hand homes, especially when quality home improvements had been added.

For more details on our home improvement projects, visit http://vineyardliving.blogspot.com/

Ways to Save This Coming New Year

Now that 2008 is almost over, people are getting busy preparing for the New Year. Numerous resolutions ago, I have vowed to do quite a few things. I have been accomplishing most of them, but what eludes me is really to have a fat bank account before the New Year ends. I try hard to make extra money with my part-time writing gigs to supplement my income as a full-time IT Manager. Don't get me wrong, I have wisened up through the years, as a matter of fact, I did better this year compared to last year. The biggest challenge we have encountered by far was how to manage my finances when we have a slew of bills to pay. It is what I call, a pitfall from a bad decision.



I have been introduced to credit card spending when I was 29. Not that I did not knowhow a credit card looks like...on the contrary, I do. However, growing up we always paid in cash. Our food are paid for by money my father earned...cold hard cash. Everything including groceries, clothes, shoes, utilities, etc...all in cash. My Papa was a good accountant, he never believed in credit cards. He had a corporate Diner's Club card when he was working as a Purchasing Officer at General Foods, Inc. in the Philippines, however, he rarely used it. The one time that I saw him use it was during my High School graduation, when he treated me and my older brother to a nice lunch as a graduation gift. That was the only time...and I know afterwards, he paid that in full to make sure he does not get in trouble with his comopany. He always would mutter...when I envy people flashing their cards, he said, well at least we can be proud we pay everything in full and not by installment or minimu payment.



I should have taken heed to that gentle reminder...but I was young and never paid attention thinking I would not end up like others. I was spendrift all my life, thanks to my parents' wise ways of managing our finances. My Mama was the designated family treasurer, in charge of balancing the sheets. She would train me and show me the ropes when i was young,a nd said that I was her assistant. I learned to save from my school allowance...and I even managed to help myparents when an emergency happened and they needed some cash. When I overhead their plight, I gave them the money I saved in my piggybank to both their amazements. My mother even had tears in her eyes...she was speechless but I could tell how grateful she was. I told them that was my "EF" and when they asked what the 2 letters stood for, I told them "Emergency Funds". I was only in 2nd year highschool...and I learned not to spend all my school allowance. I only spent my fare to-and-from school and bough sncak at recess. I walys bring "baon"-- leftover food, which I ate during lunch. I never miss bring those, since I enjoy eating home-cooked food anyway, and I knew I would save a bundle.





I have written an article on eHow entitled "How to Budget Wisely", I encourage you to read it to learn how to cut down on expenses and keep track of your finances. Here is the link to that article : http://www.ehow.com/how_2224104_budget-wiselybudget-wisely.html

Making Ends Meet

When reality hits us hard, sometimes it is already too late to make changes! This is often true for those people who find themselves overindulging and overspending. People who stretch their wallets to the point of ripping them off...sometimes literally.

When money flows, expenses seem to get blown out of proportion. Some people who get a pay raise each year, more often than not, would think of what they can afford to squeeze into their budgets now that they have more to spend. Since there is more money to spend, they search of ways to spend them. This illusion of a safety net that they have created in their minds only masks reality. We become our own victims and our own worst enemies! Before we know it, it is too late to undo the financial havoc that we have created.

We are a society that lives for the day...a society that spends more than what we can afford...but as we all know too well, we have to live for tomorrow as well. But is it really too late? There is a famous saying that "it is better to be late than never". So, I will borrow that line of thinking and state that while we still live and breathe we have a chance to make positive changes in our lives. We can all accept this challenge to improve our way of living so that we can stabilize our future and the future of the next generations to come. The next generations will learn not only from our mistakes as a society, but how we also fixed the problems we have created and came out as a winner in the end.

To get started look at your financial profile. Use the basics of budgeting by listing your income and your expenses. Do you spend more than what you can afford? Do you live from paycheck to paycheck? Is there never enough money left over at the end of each pay period? Or, worse, is the money all gone before the next pay period comes.? Then, realistically set a goal. Ensure that you are able to make ends meet. Cut down on unnecessary expenses. Cross out things from your list that you can do without. Pay yourself first, set aside monthly savings fund for emergencies. Try to add more to it each month, even an extra $10 a month helps. Avoid using credit cards when buying items that you use each day. Cut them all if you can or set aside only one for future emergency needs. Don't bring this card with you at all times, use it only when necessary. And when you do, pay it in full if you can to avoid interest accruals.

Don't use coupons to buy items you will never use or consume. Only use coupons to buy what you will definitely use. Create a list of things to buy before going out to buy them to avoid impulse buying. Bring food to work instead of eating out for lunch. Don't buy bottled water to bring to work, use your work's water cooler or fill up your travel cups from your own refrigerator water dispenser to bring to work. You will save more money by doing so! Walk or bike to work or take public transportation if it is far. You can save big on gas money! Turn off the lights you are not using, limit the air conditioner usage during summer. Set a temperature that your family can agree on...my family only turns on the A/C when it is 83 degrees F and higher. Open the window or use the fan to economize. There are more ways to save money that can be beneficial to our environment too. I wrote a few of them on my other blog: http://greenerhorizon.blogspot.com/2008/07/green-living.html.

Once you get yourself on track you will definitely be on your way to financial freedom. It is a big challenge, especially if you are used to extravagance. But, once you put your mind and heart into it, you will realize that only you have the power over you. You can teach yourself and learn from each pitfalls, and remember not to go back from how it was knowing you had experienced so much hardships on the way to fulfilling your goals. And...before you know it, you will taste the sweet taste of success!