spending money!

Well, you ladies asked for a finance forum so here we go.

Since I have one in college, one in private high school who will enter college in two years, and another who will also enter college in two years...do I need to say anything else?

On waht do you find yourselves spending the most money?

For me, the better question is what DON'T we spend money on!! It seems like is has been never ending, since that glorious day almost 30 years ago when my oldest daughter was born. Braces, piano lessons, cheerleading outfits, college tuition 8 years in a row (the girls are 4 years apart), then the capper was the wedding this January of our youngest. Oh, my that was a large check!!!
Now, we are saving for the other daughter's wedding, remodeling the kitchen, after which we need to tile the whole house, get new window treatments, new furniture, etc. etc. etc.
The list never ends. I couldn't help but think when I was attending my daughter's showers this past year, that there really should be showers for us long married folks. All that stuff needs to be replaced; why are all those gifts wasted on the young? hahaha

What I LOVE to spend money on, however, is cruising. Just love that!!!

What I really spend my money on, or use to, was antiques and trips to buy antiques. I use to have a booth where I sold things, so I was constantly on the look out for a bargain. Course that money was well spent because I MADE money. When I started writing more, I stopped and now I spend it on books, inspirational, self-help, technical, and just good reads.

The thing about finances I've learned over the years is DON'T SPEND IT IF YOU DON'T HAVE IT TO SPEND. I try very hard to live by that motto...

I don't always succeed, but I try. Does anyone else have a problem with overcoming instant gratification? You know...the mentality of "I want it now!"

JJ

JJ, we went through a phase recently of getting quotes for all sorts of home renovations which we think we badly need...then decided NO, we don't want to borrow money. So instead we made the modest choice of simply replacing the toilet (!) and will work through our list of needs/wants one at a time as we can pay for them. Hubby and I feel happy with this decision but the no.2 son is still nagging for a billiard table (and a room to put it in!)

I say my whole life is on the JIT (Just In Time) management system. I studied it in college.
There was LIFO and FIFO and maybe others that I now forget.
It seems like God has me on the JIT system. Just in time when I see something I really need to buy money usually comes along.
Of course this major remodeling project is really testing the system, but so far we're still afloat.
smile

Have any of you read the book, "Cheapskate Monthly?" It has great tips for staying out of debt and living comfortably...

The thing I like that Mary calls out over and over is that you DON'T have to win the lottery to live the life you want. You can get the book from your local library and I would highly recommend it.

Anyhoo...this was a lead in to my REAL question and that is DO YOU SAVE?

I know I am guilty of really doing a good job of saving then something will come along and whoa baby...that sucker is depleted...GUILTY! YOU?

Shoes

with me it's purses. I love those things. But getting back to Mary at Cheapskate Monthly, and by the way, it's http://www.cheapskatemonthly.com/
if you want to go take a peek...

Now where was I...oh yeah, she taught me that you don't have to have a raise in salary to save money. You don't have to inherit your fortune to save money, you don't have to take out a loan...doo da..doo da. She has sound wisdom, and if you find yourself in a bind, late paying your bills, or just need advice on how to save, please go and read the site info. Yes, it cost to join and be a regular member, but the cost is minimal compare to how it can change your life.

Just a suggestion...

JJ

Somewhere many years ago I read an article written by a millionaire. I feel if you want to make good pastry read all you can from the great pastry chefs or whatever you want to know go to an expert. You wouldn't ask for financial advice from a bum, would you. Anyhow he taught me that you should ALWAYS PAY YOURSELF FIRST So for many, many years I would take 1/3 of my salary and put it into an IRA. When I wanted to move to Nevada and buy a home I had $61,000. saved after about 10 years of saving. I bought this home cash...Now and for many more years I have paid myself FIRST and have a nice little nest-egg for when I am no longer able to work or for investing in something stable. It isn't hard to do either. Just take a certain amount and deposit it and forget it (into savings) too easy to get at it in checking accounts. Even if its only $5.00, save it....It's amazing how fast it adds up. You have to be strict and never touch this money. It doesn't exist....

Shoes and clothes are my vices. Don't drink or party or do bad things. My husband knew before he married me that I can't resist a great pair of shoes so he was warned well in advance.

And, I have found Shoe Heaven and it's located in Paris, France in the Galleria Lafayette. Seven stories of glorious shopping. Only problem is...the clothes are in French Women sizes and they aren't very big. No problem with the shoes though

My sister divides her time between Paris and Provence (married a French man) so I watch for special flight deals and try to visit her at least once a year. We walk every where we go or take the Metro (that is an experience in itself!) so no matter how much I eat, I don't gain weight. However, my feet feel like hot pizza pans at night after I've literally fallen into bed. Plus, they aren't big on air conditioning either. Not good when you're having hot flashes!

Anyway, after all that rambling, I don't enjoy a whole lot of things that much. I mean, not that get me so excited as whipping out my credit card for a funky pair of shoes that can't be found in America! My family calls me The Shoe Queen and they've got that right!

I put a lot of my earnings back into my business and there isn't much extra. I do many of the home fix-it projects myself because I can't afford to pay anyone. I rent videos instead of going to the movies and get books from the library. On my recent vacation, I stayed at AYH hostels and ate trail mix. I rarely eat out and don't have much latitude with my money.

However, I have never been in debt. My house is paid for and I have medical insurance. My extravagances? This computer, for starters. I waited over a year to get it because I wasn't sure I could afford it. Also, I buy gorgeous well-made furniture that lasts forever; I haven't replaced any of it yet and really don't intend to. And every other year, I buy a piece of art.

What are some ways you can find to cut back or come up with extra money, when necessary?

Some things I have done in the past are:

1. Have caller ID and area calling cut off (temporarily)
2. Carry my lunch to work instead of eating out
3. Take boxes of papers to the recycling center
4. Have cable cut off
5. Roll pennies and cash them in
6. Cut back on unnecessary trips (using gas)
7. Cut out buying cokes and other drinks
8. No fast food places at all for supper - cook
9. Rent movies from library, get books there too
(same as Meredith)
10. Make homemade gifts for occassions instead of buying expensive ones

These are just a few. Anybody else? How do you pinch those pennies?

JJ

My husband and I spend the most money on education, food, clothing, videos/DVD's, housing and short trips.

We used to eat out a lot but we've got back some and saved a bunch...

Jawjaw, all ten of your ways to save money are great ways and I do them myself BUT you didn't say to PAY YOURSELF FIRST. aznd I can't express strongly enoug the importance of this one thing. When you first begin it doesn't seem like much and isn't but after a few years WOW, it really adds up. Just save $5.00 if its all you have but do save it....

Amen Ms C! I totally forgot and you are soooo right. You are the reason you are working, am I right? Of course you are! So pay yourself first. I use the 10-10-80 rule which may or may not work for others, adjust accordingly.

10% to da Queen first
10% to my church
80% to bills

Some times I adjust that when and where I can to give more, or to pay more. I also have an emergency fund that I DO NOT touch under ANY whiney little circumstances. It is for emergencies. I've already had to use it once, now I'm building it back up again. Thanks for reminding me Chatty...ALWAYS PAY YOURSELF FIRST.

I don't buy any junk food. It's expensive and usually unhealthy. I watch the utilities and for other reasons beside saving money. I shop sales. I try to upkeep and maintain things so I don't have big repair bills. That alone, has saved me a lot of money. Doesn't seem like much but it all adds up. I also keep all of my change in a glass jar and then, roll it for mad money (usually to pay for my shoe bill! !

AMEN to that my Queen and by the by did you see the new Oreo product thats out called Oreo Chips? I can't have any myself but boy do they ever look good. Its a ultra thin chocolate cookie without the cream filling, also comes in a chocolate chip. When I saw it advertised, I immediately thought of you...10-10-80-is a great plan and it does work quite well...

GET OUT! A new Oreo product? NO! Thanks for the tip...I think...teehee...Oh Lord. There goes my diet. Oh what the hay...

JJ

While roaming the streets of this beach town with my son and his friend yesterday we saw a sign for FRIED OREOS! What is this world coming to?

No, we didn't indulge. We were more grossed out than anything.

I like the original Oreo's.

Ewww...that sounds awful, Dotsie.

I guess our biggest expense and only indulgence is eating out. I rarely cook these days, 'cause it's usually just the two of us, and we eat nothing alike.

Donna

This one is easy for me- I spend most of my money on vet bills. I have 4 dogs and 4 cats, and most of them have had medical problems. I am just now paying off a vet bill from when one of my cats was really sick years ago.

I'm currently trying to get all my credit cards paid off. Then I'll just have one that I will only use for emergencies. Or try anyway.

I have stopped buying new clothes, shoes, and jewlrey, but boy has it been hard. I can't even turn on QVC or HSN. :-)

A lot of money goes into home maintenance, too, which never seems to quit. I now need a new roof in addition to new carpet, new paint, new wallpaper, etc. There's also some type of small rodents in my attic that are making quite a bit of noise at night and having lots of fun tearing up my insulation. Sometimes it seems it would be easier to just raze the house and start from square one again.

Best to all,
Kelly

Kelly, do I EVER know what you are talking about when you say home maintenance! It's pretty sad when you walk into Lowe's or Home Depot and every guy that works in there knows your name. I want a concrete yard, and a patio home. Better yet, a cave.

JJ

Kelly if you go to www.animalrescuesite.com which is listed on the bottom of all my posts you'll find a couple of great places that carry Health Insurance for pets. I have it and it has saved me a bundle.

Ladies I decided to revise this post to see how these things are working for you? Did you hold your ground during the holidays or go overboard? Has anyone paid themselves first since first posted? Just curious.