It's been a strange few days. The weather ranges from sunny-and-windy to rain. Fall is definitely starting to blow in...and it's most welcome.
I feel a bit weird, though. Just a few appraisals to finish up. (Hooray!) I pushed so hard to finish the last big batch, though, that I keep feeling like I'm missing some. (I'm not. Double-checked.) I have an article to finish writing. Some bread-and-butter notes...and a complaint letter.
There's sadness, too, when a WH administration that continues to pretend that we're not having issues with inflation, that border problems just don't exist (unless you live in Martha's Vineyard -- then you're 'evil' for shipping illegal migrants there)... and there's a bazillion or more dollars available for this and that, including student loan debt and 25% price increases for railroad unions. And in a sense, they're right -- it's not THEIR money they're spending.
Discouraging.
But this doesn't solve the issues. We need to figure out financial hacks to get through this harder period peaceably. And throwing a "Yay, it isn't happening!" party, a la President Biden, is not the way to cope.
Fortunately for us (and hopefully for you, too), this is not our first rodeo. The Brick and I have been through hard times before, and they were with much less income than we're bringing in now. Here are some things we did back then -- and are returning to now, or have never stopped.
P.S. They work.
DO WHAT WORKS FOR YOU. This is meant to be a practical help -- not yet another way to beat yourself because you messed up. If one tips won't work for you, cheerfully discard and go on to the next. (For example, we no longer have a mortgage.) These are just what have worked for us.
*Pay your mortgage early -- midmonth, instead of waiting for the actual date due. Not only does this keep from incurring late fees, in case something goes wrong -- but it effectively stops the interest on that amount. You pay the same as usual, but the cumulative effect on interest saved really adds up. (I learned this from Thrifty Mom in Boise, and it really helps.)
This works on anything you're paying back, if it's drawing interest.
*Use "6 months no interest" plans, rather than putting it on your credit card. Make sure you pay it completely back before the due date, though. You can find credit cards with this offer -- use them to wipe out other cards that are charging interest.
*Always pay a little extra on large debts -- even if it's just a buck or two. Not only does it give you a psychological boost -- it pays that bill off that much sooner.
*If you're renting, can you swap a reduced rate with your landlord? Offer to keep the sidewalk and steps shoveled. Do your own repairs. (The landlord pays for materials.) Pet-sit or house-sit. Any reduction helps.
Our living situation is a bit unusual -- but works on this principle. The fifth-wheel is parked on the ranch of good friends who live near the mountains. We pay utilities, and help out with chores like lawn mowing, housesitting and cleaning. In return, we're hooked up to electricity and water, and can use the washer, dryer and freezer in the basement.
They like having reliable people to watch over their things, and help out on occasion. (And they don't mind if we take off for a while now and then.) In return, we try to be good neighbors and keep our use of their basement to a minimum. It's been working for more than three years, so far.
*Make your checking account work for YOU -- not the bank or credit union. You shouldn't be paying a monthly fee, at the very least, and hopefully getting some interest on your funds, as well. If you're not, look for a savings or money fund to change this. We ended up keeping our regular account, but putting the majority of our emergency fund in a Lending Club account -- it pays a slightly higher interest rate.
*Always set a "little something" aside...and it's easier doing it as a percentage. Start with 5% of your paycheck, if things are tight right now, but see if you can work up to at least 10%. (Put it in a separate account, so you're not tempted to dip in now and then.) This is your emergency fund, and it WILL save your patootie sometime in the future.
NOW -- to be able to save that percentage, even when your income seems stretched to the max:
*Unless they're basic necessities, buy all your groceries on sale. Join rewards clubs, and check digital coupons. Always check the clearance areas; you may get skunked one week, and really find bargains the next. (Like the week I found tortilla chips at half off -- and on sale, as well!) I always look for baked goods, as well... unless I've hit our local thrift shop. (Free bread, rolls and bagels are set out regularly -- and if I go on Tuesdays, any purchases have a 20% seniors discount.)
*For necessities like milk and eggs, watch the grocery stores' sale rotation. Our local Safeway and King Soopers stores put milk and/or eggs on sale every other or third week. Guess who stocks up during those weeks? I put extra milk in the freezer; eggs will last three or four weeks in the fridge.
Note: Make your milk go further by buying whole milk, then watering it down, up to 1/3 - 1/2, with water. It tastes much better than 2% or skim this way, and goes further. I have read that one egg can be replaced with a tablespoon of cornstarch in multi-egg recipes, but have yet to try that.
*Are veggies and fruit still growing in your area? Buy them from the farmstand -- you'll help the farmer, as well as yourself. (Stop by late in the day -- they may be willing to dicker.) Next year, plan to grow some of your own produce, even if it's in pots.
Swapping with friends or neighbors helps, too. Is your friend up to her hips in tomatoes -- but you've got an excess of squash? We are lucky to have generous friends, who kept us in zucchini for weeks. Their garden just finished. Ours is still going strong in the greens department. Guess who gets a bag of greens tomorrow?
*Large boxes or bushels of fruit can be put up for the winter. Peaches can be cut up -- or just bunged in the freezer as-is. (Use them half-frozen in smoothies or crisp -- their skins will slip right off.) Apples store well in a cool area, or your crisper. (They can be cut up for the freezer, too.) For greens, try drying them, or whizzing into pesto.
*Look into cheaper sources of protein -- or use less. Beans are always a plus, but so is learning to use less meat. Stock up when you find a great sale; Amazon Warehouse is a good place for canned goods.
*Yes, you can save more by cooking and baking at home. But sometimes your schedule won't allow you to do this. Try cooking double -- and putting extra in the fridge or freezer, for that day you know you'll be too tired, or home late. Look for quickie versions on sale, and stash a few for more days like this.
*Learning more about other cultures' foods can take you to some very delicious places. Start with Mexico, Vietnam and Thailand... poor countries with a rich foodie heritage.
*Take inventory: what's in your freezer, on your shelves and in your refrigerator? This will reassure that you and your family will not be starving anytime soon. It will also show you what's needed -- and what's not.
*Now take inventory of your other areas -- especially winter coats, boots/shoes and your clothes closet. Don't forget personal items, either, like toothpaste, soap, etc. You may be surprised at what you find! (We were.) Now that you know what you need, you can watch for sales on those items.
*Now is not the time to buy new clothes and luxury items -- unless they're at a huge bargain, and you REALLY need them. The thrift shop may be your best stop at this time.
This is Part I -- Parts II and III will be on their way shortly. My Gentle Readers also seem to enjoy my monthly Hits & Misses reports, where I document our successes -- and screwups. Do add your own tips for saving in the comments!
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