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How to not spend all of your money

Last Updated: December 19, 2015 BY Michelle Schroeder-Gardner - 7 Comments

Disclosure: This post may contain affiliate links, meaning I get a commission if you decide to make a purchase through my links, at no cost to you. Please read my disclosure for more info.

It’s very easy to spend money, as every knows (DUH!) I came across a good article the other day here, on how not to spend money. I’ve added other things to it which I thought would be helpful.

  1. Stick to a debit card or use cash.  I only have one credit card and it has a low limit. I feel that this has helped me greatly with no overspending because I don’t have extra money that isn’t mine to spend.  When you use a debit card or cash, you know exactly how much you have left and how much you can use.
  2. Don’t overdraft.  I overdrafted once in my life, and it was when I was 16, because I accidentally transferred more money to my savings than my checking and then I overdrafted from my checking.  This cost me $35, and since then I haven’t done it again.
  3. Don’t buy something on sale just because it’s on sale.  If you’ll never wear it or use it, then was it actually a good bargain?
  4. Take your lunch to work.  I try and take my lunch to work everyday and this saves me a lot of money.  Instead of spending $7-10 a day on lunch, I can make something or just bring leftovers from the night before, with a cost of around $2 or $3.
  5. If you’re thinking about making a big purchase, try to sleep on it and think about your purchase for a couple of nights.
  6. Make a list and stick to your list when shopping.
  7. One thing I do before I buy something is to think about how long I worked for it.  So if I wanted something I would think first “Wait I had to work 3 hours for this, is it still worth it?”  Usually this helps a lot and helps me put everything in place.

What do you do to control your spending? Any tips for others?

7 Comments
Filed Under: Budget Tagged With: Savings, Spending

Wardrobe spending and splurging

Last Updated: December 19, 2015 BY Michelle Schroeder-Gardner - 3 Comments

Disclosure: This post may contain affiliate links, meaning I get a commission if you decide to make a purchase through my links, at no cost to you. Please read my disclosure for more info.

I’ve read many articles about getting your money’s worth out of your clothes and calculating the items you buy by how many times you’d wear them and yada yada yada.  I came across another article the other day, find it here.

Here’s the jist of the math:

“Before buying anything, consider its so-called “cost-per-wear.” For example, if a pair of jeans cost $200, but you plan to wear them three times a week for a year, your cost-per-wear will be about $1.28 each time you put them on during the first year, and less if you keep them longer. Meanwhile, the cost-per-wear of a dress you bought on clearance for $40, but only wore once, will be $40. The math clearly tells you which is the better deal. So make note of what you wear the most and spend accordingly.”

I don’t ever figure out a cost-per-wear exactly, but I do think about it.  If I don’t think I’ll wear it often, such as going out dresses, then I’ll usually just go to Forever21 and buy something cheap.

So, how do you shop? Do you try and figure out how often you would potentially wear it? 

3 Comments
Filed Under: Budget Tagged With: Savings, Spending

Life and Spending Update…

Last Updated: July 14, 2017 BY Michelle Schroeder-Gardner - 9 Comments

Disclosure: This post may contain affiliate links, meaning I get a commission if you decide to make a purchase through my links, at no cost to you. Please read my disclosure for more info.

I’m going to Los Angeles (Manhattan Beach) today for work.  I’ll be back on Monday morning (maybe Sunday night if I’m getting homesick).  I’m hoping that I’ll be able to go to the beach everyday after my meetings. Here’s to HOPING! The BF is going to come on Friday to spend the nights with me since my meetings will be over by 5pm everyday.  Me and the BF have pretty much no pictures together, and this time I’m making a promise to take some.

My spending has been good.  We’ve spent maybe $350 so far on food and going out/entertainment, which is really great for us.  All of our bills comes in at the very beginning on the month, so right now we are running low in cash.   We have money in savings and the emergency fund, but we like to not take anything out.  I’ve been wondering lately if I should somehow spread out all of my bills so that everything isn’t hitting in one day and I won’t get upset by the low amount of funds.

What does everyone else do? Do all of your bills hit at once or at different times during the month?

School has been ok, not great.  I’ve been super lazy with school this semester.  I can’t wait until I’m done, which is hopefully May of 2012 or August of 2012.  My classes have been completely boring me this semester, and I fight to stay awake. I was so excited about this semester because I thought I’d actually have interesting classes.

Wish me luck this week on my meetings! I get really nervous when I have to go on work trips.  I also get really homesick being all by myself.  I’ll of course still be posting new things everyday while on my trip, probably lots of posts everyday since I’ll be lonely.

9 Comments
Filed Under: Budget Tagged With: Life, Savings, Spending

Spending Guilt

Last Updated: July 14, 2017 BY Michelle Schroeder-Gardner - 4 Comments

Disclosure: This post may contain affiliate links, meaning I get a commission if you decide to make a purchase through my links, at no cost to you. Please read my disclosure for more info.

Whenever I buy something, I always think about it, A LOT!  And most of the time I will have spending guilt.  No matter what it costs, I nearly always think twice about it afterwards.  I have a serious spending problem, but I would like to believe that it’s under control.  So now whenever I buy clothes, I always think about it and end up regretting it.

Such as the other day.  I went to the mall and found lots of cute dresses, but I put ALL of them away.  I’m very happy and I didn’t leave with any spending guilt! Here’s a great article to help you with any spending guilt.

What you can do:

  1. Look at what’s making you feel guilty.  Is it clothing items? Electronics? Try to evaluate what it is exactly.
  2. What dollar amount is making you feel guilty?
  3. What could this money be better spent on?
  4. Saving and being frugal is good, but to a point.  I set aside a certain amount that I must spend every month.  This amount is very low, but it keeps me sane.
  5. Save for a future splurge ahead of time.

How do you get over spending guilt? How much do you spend before you feel “guilty”?

4 Comments
Filed Under: Budget Tagged With: Spending

Where do you need to cut yourself off?

Last Updated: July 14, 2017 BY Michelle Schroeder-Gardner - 2 Comments

Disclosure: This post may contain affiliate links, meaning I get a commission if you decide to make a purchase through my links, at no cost to you. Please read my disclosure for more info.

DailyWorth recently had a great article titled 5 Places to Cut Yourself Off.  There are many places where I need to cut my spending.  Whenever I go Target, it’s nearly impossible for me to stick to what I need.

Are you trying to control your spending? Here’s how DailyWorth recommends controlling yourself:

  1. No-Spend Zone 1: Whenever I need to go shopping, it’s very hard for me to stick to my list.  Make sure you create a list of what you need to do and what you need, and then stick to it.
  2. No-Spend Zone 2: There are many sales this week for Labor Day and Back to school, but make sure you stick to the clothing items that you need.  That summer dress on sale might not be needed if it’s about to get very cold near you.
  3. No-Spend Zone 3: When you’re with your friends, try to “aim for half-off happy-hour drinks, or host a potluck dinner with a fun food theme.”
  4. No-Spend Zone 4: I tend to shop at places where my credit card is already stored such as Amazon.  This makes it easier for me to buy items, but it also makes me spend more.  Try un-linking your cards if you can’t control your online spending.
  5. No-Spend Zone 5: If you have kids, try to bring snacks with you when you’re out. Kids. Also, “buy kids’ clothes and shoes on consignment or work the hand-me-down angle.”

 Where do you need to limit your spending?

Trying to rein in your spending? Forget vague vows like “tightening your belt” and institute a hardcore No-Spend Zone in just one area. Some ideas:

  • No-Spend Zone 1: When you leave the house. Picking up a prescription? Grabbing pizza—er, groceries? Stick to your to-do list and curb the urge for retail detours.
  • No-Spend Zone 2: Clothes. End-of-summer sales are tempting, but you’ll be grateful that you stashed your cash when temps drop and that cozy new sweater is calling your name.
  • No-Spend Zone 3: With friends. Avoid spendy pals or take control by setting the price point for a night out. Aim for half-off happy-hour drinks, or host a potluck dinner with a fun food theme. (Now’s your chance to have the All-Cheese Extravaganza.)
  • No-Spend Zone 4: Online. A recent, highly unscientific DailyWorth poll revealed that slow afternoons prompt unnecessary online purchases. Remove retail sites from your bookmarks and unlink your credit cards from the websites.
  • No-Spend Zone 5: Kids. Always bring snacks. Cut out the token toy at the grocery store. Buy kids’ clothes and shoes on consignment or work the hand-me-down angle.

Cheap out. Where do you need a No-Spend Zone?

Source: Daily Worth (http://s.tt/13aee)

Trying to rein in your spending? Forget vague vows like “tightening your belt” and institute a hardcore No-Spend Zone in just one area. Some ideas:

  • No-Spend Zone 1: When you leave the house. Picking up a prescription? Grabbing pizza—er, groceries? Stick to your to-do list and curb the urge for retail detours.
  • No-Spend Zone 2: Clothes. End-of-summer sales are tempting, but you’ll be grateful that you stashed your cash when temps drop and that cozy new sweater is calling your name.
  • No-Spend Zone 3: With friends. Avoid spendy pals or take control by setting the price point for a night out. Aim for half-off happy-hour drinks, or host a potluck dinner with a fun food theme. (Now’s your chance to have the All-Cheese Extravaganza.)
  • No-Spend Zone 4: Online. A recent, highly unscientific DailyWorth poll revealed that slow afternoons prompt unnecessary online purchases. Remove retail sites from your bookmarks and unlink your credit cards from the websites.
  • No-Spend Zone 5: Kids. Always bring snacks. Cut out the token toy at the grocery store. Buy kids’ clothes and shoes on consignment or work the hand-me-down angle.

Cheap out. Where do you need a No-Spend Zone?

Source: Daily Worth (http://s.tt/13aee)

2 Comments
Filed Under: Budget Tagged With: Savings, Spending

Spending Recap

Last Updated: December 8, 2014 BY Michelle Schroeder-Gardner - 5 Comments

Disclosure: This post may contain affiliate links, meaning I get a commission if you decide to make a purchase through my links, at no cost to you. Please read my disclosure for more info.

Since I got back from my vacation, this is what I’ve spent:

  1. Beer: $13.71 (August 20)
  2. Groceries: $37.28 (on August 21)
  3. Gas: $38.45 for me and $37.69 for him (August 21)
  4. Lion’s Choice: $3.30 (August 21)
  5. Parking Pass for classes: $162.00 (August 22)
  6. Walgreens School supplies: $5.14 (August 22)
  7. Gas bill: $30.34 (August 22)
  8. Sewer bill: $60.45 (August 22)
  9. McDonalds: $3.34 (August 22)
  10. Amazon textbooks: $138.47, $85.67 and $60.99 (August 23)
  11. Arby’s: $3.29
  12. McDonalds: $2.17 (August 25)

How has your spending been so far this week?  This has been an expensive week for me.  A lot of these were unavoidable though.  I wish I could do no-spend days.  I need to get my BF on board also….

5 Comments
Filed Under: Budget Tagged With: Spending

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Hello and welcome!
My name is Michelle and I'm the author/owner of Making Sense of Cents. Learning how to save money and make more money changed my life. It allowed me to pay off $40,000 in student loans, start my own business, and I now travel full-time.

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