Budgets

Budget Leaks

 

So I want explore budget leaks, I have been looking at our budget very closely lately and found lots of little things that are “budget leaks”.  Some of these are

  • Extra shopping trips to Target and CVS, I always go in with the intention of getting just a couple of things and wind up leaving with way more!  So to remedy this no more shopping hungry and no more shopping without a list!  Also only 1 trip per week to each store!
  • Late fees on bills, all of our bills are due around the same day, so I am making calls to change due dates and taking a set amount each week toward our bills.
  • Eating out (now this isn’t one I struggle with but I know others may). Eating out adds up this can include vending machines while at work or even grabbing a Coke while out shopping.  I keep snacks in my purse either crackers or a granola bar, I also take water every where I go, then pack lunches for work and try meal planning for home meals to avoid eating out, you always know whats for dinner ahead of time, also there is great info here on the blog about meal planning and the Mommy Brain helps tons!
  • Overdraft Fees kinda says it all in itself

Use this budget form here  to help you learn where it is all going!

Do you have other issues that are budget leaks, share them with us if you have questions or ideas feel free to comment… or message me on Facebook!

Budgets, Challenge

Savings challenge – save $1378 in 12 months + open a new ING account and score $25!

It’s a new year and if you are like many Americans, you are may be looking for an easy way to start saving money. Last week I was told about a savings system where you deposit a certain amount of money based on what week it is. At the end of this year, you would have set aside $1378.00! So for example, we are in the first week of January, so I would deposit $1 into our savings account. Next week would be $2 and so on. To help keep track of how much you should put in each week, there is a spreadsheet available here.

I didn’t have a savings account so signed up for an ING Direct online saving account to replace our US Bank one. Currently, ING is giving all new members who sign up for an Orange Savings Account a $25 bonus deposit (Sorry, but deposit $250 to receive the $25 bonus)! ING Direct also has an awesome interest rate of .75% (average savings account with a bank is .09%). You can easily link your current checking account to your ING Direct account to do all your transfers for free.

 

The Orange Savings Account

  • High Interest, No Fees, No Minimums – All your money goes to work for you.
  • No Changing Banks – It electronically links to your current checking account. Transfers are free and easy.
  • FDIC Insured – Your deposits are FDIC–insured up to $250,000 per depositor.
  • Quick Application – Start saving in less than 5 minutes. Giddyup.
If you do the saving plan and count in the free $25.00 ING Direct is giving you, you will have saved $1403+ interest on December 31st 2013!
Have you heard of this savings plan or taken part in previous years? Feel free to share your experience!