Financial Crisis Survival Blog

Money saving ideas and encouragement when in a financial crisis

   Apr 09

Outrageous Ways to Save Money

Today The Anderson Show’s topic was Outrageous Ways to Save Money. It was a good show, but going to the website you will find more resources and links to helpful sites. It has links to ways to save money from cleaning products to couponing.

I like the way the Dunning family, especially the kids got creativem during Februrary. Here is the video of the segment where they talk about how they didn’t spend any extra money for a month…


 

Here is the video on the couponing lady

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MY THOUGHTS ON COUPONING LADY, AMANDA

The lady who is an extreme couponer did have a good tip of going to recycling bins to get coupons. I’m thinking that would be a good idea first thing Thur and Mon morning.  When Amanda mentioned that some people have called her a hoarder, I have to agree. She is VERY neat and organized, but still hoards what she buys. I doubt that she will live long enough to use all of the bottles of cleaners she has on the shelves or eat all the hot dogs in the freezer! If she gets it for free or very little money and doesn’t need it, I would love to see her donate it. One of the guests estimated that she makes about $4 an hour couponing. Of course it wasn’t factored in that she doesn’t pay for childcare, work clothes, transportation, and the other expenses related to working outside the home, but clearly, this woman spends too much time couponing. When saving money or even getting things for free the following should be considered:

  • Will I use it within 2-3 months?
  • Can someone else use it?
  • Are there costs associated with storage or use?
  • Do I have room for it?
  • How much time will it cost to save money?

It is outrageous to not use your time or resources wisely.


   Feb 08

Income and Money Management

Most people going through a financial crisis struggle with money management as they slowly dig their way out of the their financial crisis. Income tax returns often are a time of great joy, but short lived because most people are tempted to splurge and spend money unwisely.

Income tax time is a perfect opportunity to get a big jump on the financial crisis IF you choose to spend your money wisely. It may be wise to put money aside in a savings account, but if you are not one of those people who can leave the money alone, other options are available like the following:

  • Get money orders or cashier’s checks made out for utilities or rent, replace each month. Stay AHEAD.
  • Pay ahead and get bills with a credit instead of past due.
  • Get gift cards to use at grocery store or for gas, refill with budgeted amount monthly. Have an extra month on the card.
  • Open up an account in a bank that is different from you current bank. Do not get a debit card. This will force you to plan before using the money in that account.

Sure, it is your money and you may not want it sitting unused or at the utility company, but until you have healthy spending habits, it may be the best way to go. If you keep the money accessible, use it without planning, and have to pay late fees, it will cost you more to keep it handy.


   Feb 06

Money Management and Income Tax Return

Even people in a financial crisis will have a little extra money when they get their tax return. For some it can be used to get out of a financial crisis for others the money will be gone way to fast with nothing to show for it. Paying down debt and lowering payments will have a long lasting effect.

Though some of the money management suggestions might not be helpful for someone who is going through a financial crisis, there is some helpful money management ideas here in the post, Internet Ventures and Income Tax Returns, on Jan’s Ideas.

Be sure to take your time and really think about how you will spend your money. Managing your money wisely now will allow you to get out of a financial crisis and be able to have money to do what you want sooner instead of later. Don’t splurge now to only to pay many times that amount in late fees or interest charges. Don’t give that money away! Pay bills down and on time to keep more of your own money later. Take a few bucks for something small, but most of it should go to getting out of the financial crisis that you are in.