Frugal Vacation Tips

My husband and I are planning a trip to Las Vegas this month to celebrate our anniversary and his graduation. However, we don't plan on breaking the bank for this trip at all! Many people assume that since they don't make much money, a vacation is out of reach for them. Perhaps a luxory trip might be, but a modest excursion can be very affordable if you play your cards right.

Here are some tips to cut down un-necessary costs when flying to a destination and staying in a hotel:

• Research, research, research. Before purchasing tickets and reserving a hotel, make sure you have plenty of time to scope out the options. I started researching prices for a Las Vegas trip three weeks before I planned on booking it. I searched on many different online trip engines to make sure I was getting the best price. Some things to look for during this period:

-Search all surrounding airports since fares can differ significantly from one airport to another. This is not always the case, but it can mean big savings depending on where you are flying. We searched 4 different airports in our area (a 115 mile radius) and discovered that we could save $170 per ticket if we drove an hour away. This is significant savings and made a huge impact on our trip cost.

-Choose a non-direct flight. Non-stop and direct flights are often more expensive than flights with a layover. If you don't mind the added traveling time, this can be a real moneysaver.

-Search different days. Some times of the year are more expensive to fly and/or stay at a hotel. If there is a major local even going on, hotels will hike up their rates. Avoid these times if at all possible. We discovered that if we went during the week, rather than on the weekend, we would save almost $300 on our trip! By going during the week, we ending up paying $50 a night for a four star hotel rather than $120-200. (AVOID- Holidays, springbreak, "on-season", weekends, superbowl week).

-Look up the airline baggage information before you book the flight. Many times, this information is only found at the airline website and is NOT included in the total trip cost paid with the online trip booking site. Some airlines do not charge fees, but most impose a $15-25 fee for a checked bag ONE-WAY. If you are traveling for only a couple days, consider bringing only a carryon and packing lighter rather than checking a large suitcase. This is what my husband and I plan on doing to save ourselves $100.

-Look up the hotel fine print. This is normally found in the information section for that particular hotel on booking sites. Some hotels charge daily cleaning fees, parking fees, resort fees, cash or credit daily desposits and other misc. fees. Make sure to add these fees into the total cost of your trip, since the online booking site will not do it for you. These fees are paid upon checkin at the hotel. We saved an average of $50-80 by choosing a hotel in Las Vegas that did not charge fees.

• Do not check luggage if there is a fee. This is a frugal flying tip that many people are using these days. Most airlines allow one carryon plus one personal item. Pack smart- wear larger items of clothing to save space. We plan on wearing our hiking boots rather than packing them since this will save on weight (if we have to check a bag) and space on the carryon. Pack light- bring outfits that can be cordinated with each other easily. It is cheaper to go to the laundry mat once than to pay for a checked bag. Dress in layers- if you are traveling to a colder climate, wear multiple shirts on the flight (this will be more comfortable too since tempertures inside a plane change often). For women- do not bring your own hairdryer since many hotels provide this. Do not bring large toiletry items since most hotels provide these as well. Avoid the urge to bring more than two pairs of shoes, expecially if they will only be worn once.


• Eat breakfast or lunch in your hotel room. Once you arrive at your destination, pay a visit to the local grocery store or supercenter. Buy items for breakfast like donuts (hey, you're on vacation, right?!), juice, coffee and bagels. Try to get items that do not need refrigeration since some hotels do not provide a mini-fridge. Buy snacks and lunch options as well (such as a loaf of bread and a jar of peanut butter and jelly). Doing this will save you tons of money, since eating out can easily be one of the biggest expenses on a vacation. If you need to refrigerate something, make sure to bring a small lunch box cooler with you to fill with ice, or use the ice-bucket the hotel provides. Enjoy dinner at a modest resturaunt nearby.


• Purchase the Entertainment Book for your destination. You can look up the coupons in each book online to determine if it will save you money or not. For our destination, Las Vegas, it would not be worth it to purchase that book. However, we did stumble across another coupon book for casinos, which was packed with BOGO entree deals and BOGO show deals. We paid $15 for The American Casino Guide and will likely get our money's worth using just 2 of these coupons. Also, scope out the coupons available at your hotel checkin area and visitor's bereau for discounts on attractions.


• Research the FREE entertainment options for your destination. Rather than shell out $15 each for admission to a museum or attraction, check out which ones are free and visit them instead. Some of the funnest things in life are free! We plan on only paying for ONE show while in Las Vegas (with a BOGO coupon of course) and doing free things the remainder of the time. Simply walking down the strip provides an abundance of entertainment as one can check out all the themed hotels free of charge. One day, we are taking an excursion outside the city to hike in a National Recreation Area, take nature photographs and visit the Hoover Dam and Lake Meade. Get creative and think outside the box. By planning a loose itenerary, you'll never run out of things to do. (Also remember to make a list of LOW COST attractions and activities to fall back on if necessary).

By implementing these ideas, you can save a bundle on a trip or vacation and still have a wonderful time! Do you have a frugal tip that's not listed here? Share it below by leaving a comment!

Paying for Christmas

If you've shopped at all lately- be it a grocery store, the mall or a discount retailer- chances are the Christmas decorations are up and staring you in the face. Although you might be thinking that Christmas is still a ways away, it's actually just around the corner. Now, more than ever, is the time to start thinking about how to financially prepare for the month of December (if you haven't already).


Christmas is almost synonymous with large credit card bills in January. But with the hikes in rates this past year, and new hidden fees popping up every day, using a credit card to pay for Christmas is no longer a wise or safe move financially. Do yourself a favor this season and vow to pay for Christmas in cash. Start a Christmas savings fund and contribute as much as possible to it during the month of November. Here are some easy ideas to help get you started and seeing some instant buildup:

• Eat every meal at home for the month. The average family spends hundreds of dollars on eating out, of which could be going to a Christmas fund.
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• Cut back on luxury frills such as the movie theater and excessive driving. Instead, look for ways to entertain for free at home by watching movies you already own or playing cards or board games. This is will bring your family closer together too!
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• Avoid major purchases until after January, if at all possible. A large piece of furniture or household appliance that does not require immediate attention should be put off for a couple months. Think of creative ways to get by until you are able to afford it.
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• Buy used if you need something. This includes clothing, appliances and other items. Not only will you save a bundle for Christmas, but you will be helping the environment by being resourceful.
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• Trim the phone bill. This is an easy area that many people can save on. Take a good look at your monthly phone bill- are you using all the features and minutes that you pay for? If not, downgrade, at least temporarily. You can also upgrade your plan after the holidays if necessary. Instant savings. Do this for all your utility bills, and you will have a large lump of cash available for the holidays.

Budget Finance Binder

My husband and I recently started using a finance binder to help us with our budget, saving and spending patterns. It has changed our financial lives in a tremendous way, and so I wanted to share it with my readers here. I learned this technique from the book "America's Cheapest Family", which is a fabulous read, and one that I recommend highly.

Here's a breakdown of our Finance Binder contents. Each category has its own page:

• Allowance/Blow Money (this is for our individual misc. spending, like me getting my nails done or my hubby buying new guitar strings)
• Dates/Entertainment
• Fast Food
• Gas
• Groceries
• Rent
• Insurance/Taxes
• Utilities
• Gifts and Charities
• Alcohol/Bars
• Pet Food/Supplies
• Clothing
• Eyecare
• Car Repair/Maintenance
• Haircuts
• Household/Furniture
• Doctor/Medications
• Savings
• Student Loan Debt
• Holiday/Christmas Fund
• Vacation

We keep one checking account and have all the budgets in there together. We use our debit card for everything so we can save all those pennies in each category. We also each have our own checking register and record a purchase/withdrawal in them each time we make them. Rather than keep a running total of the checking account's balance, we just record the purchase and initial which category it is coming from. We sit down once a week or twice a month and write down all the information in the binder and balance it by adding up the total from each category and the making sure it matches the checking account balance online.

If we need to "borrow" money from one account from another, we write it down as a withdrawal from that account and deposit into another. That way everything is accounted for. There is no wondering where the money is coming from for a certain item.

We write the total amount to be deposited each month in a corner of each category sheet so we know how much we have to work with.

If we get any unexpected income- such as overtime hours or gifts- we immediately break it down into what we call our

"wind-fall" plan:

• 60% Debt
• 20% Savings
• 10% Giving
• 10% Whatever we what

This helps us save so much since we are no longer going out and spending 100% of the extra money. It gives us some money to have fun, but while also saving it and directing it to our debt. In short, it gives that extra money a plan.

We've been married over a year and a half now, so this budget system has really been trial and error. It takes a while to figure out what works for you. I think this is the best budgeting system that I have used so far (I've tried excel sheets, mint.com, the envelope system), especially in regards to saving. It's completely portable and can be instantly updated. Plus, you get to look over each category every month and evaluate purchases without scrolling through a mine of transactions.

I hope this helps you in some way, whether you're starting to pay off debt, saving for something special or beginning to budget.

Why Stocking Up Can Save You Money

Avid coupon-ers know the value of stocking up on items that go on sale. They save money, time and hassle. If you 're new to couponing, here are some things to know about how stocking up can save you money.

1. By purchasing items on sale in bulk, you lower your overall monthly cost in groceries. This tactic does not follow a weekly budget, but rather a monthly budget to allow for spending more when there is a weekly sale. If you spend ten dollars more in week one, and ten dollars less in week two because you are stocked up in an item, you will not go over budget. Since the item was on sale, and presuming you were able to use coupons, the overall cost of the item goes down drastically. For example, Kellogg's Nutrigrain Bars regularly run around $3.49 at Meijer. They were on sale this week for $1.99, and coupons were available for $1.00 off of two, making the final cost $1.49. You just saved $2 per box! If you stocked up for a month or two, you would not have to buy any more of these bars until the next sale.
   
2. Stocking up allows extra savings even if you only purchase a small stock. In the example above, you would still be saving $2 per box, not matter how many you buy!
   
3. Buying in bulk results in less grocery trips. If you buy all of your cereal or another item for a month in one trip, your trips will be shorter and fewer in between.
   
4. Stocking up on items when they are on sale creates a instinct that refuses to pay full price. Lastly. buying items and food in bulk while they are on sale creates an attitude that refuses to pay full price since you are used to buying large sums of the item at discounted rates. You will therefore resist the temptation to buy an item because you think you "need" it, and instead wait for it to go on sale again, which saves you loads of money in the end.
   

Friday Fun: Building Your Home Library for Less

I know I already did a post on Friday Fun, but I wrote this article and thought what useful information it could be to my readers. So rather than waiting until next week, here is another Friday Fun post to keep your appetite for Wallet Wise growing.

Do you dream of having your own home library? Are you craving to collect books and fill the spaces on your empty bookshelves but think the price of books is too expensive? Here is how you can build your home library cheaply and easily but utilizing discount book sellers, the internet and your local library.

1. VISIT GARAGE SALES. Many people sell their used books quite cheaply at garage sales. You might be able to find a whole box of books in good condition for a couple dollars if the seller is eager to get rid of them. Most of the titles will be old, but they will fill space on your bookshelf nicely for little investment. Use craigslist or your newspaper to find out when garage sales are happening at your neighborhood. Try to go to ones that advertise books or multi-family sales.

2. BROWSE THROUGH EBAY. Many people sell their used books on Ebay to make a little extra money. You can find great deals on collections and individual titles this way. All you need is an Ebay and Paypal account to get started.

3. SHOP LIBRARY BOOK SALES. Libraries are always selling books to make room for new inventory. It seems every time I visit local branch, there is a huge table full of books for sale as low as .10 each! Many college or university libraries also sell used books for fairly cheap.

4. SHOP DISCOUNT BOOK STORES. You can purchase gently used books at discount booksellers for more than half the regular newsstand price. Look for the used book shops in your area as well. Rummaging through the aisles will help bring your dream of building your library and collecting books a new reality. Or try amazon.com, an online bookseller that lets users sell their used books (sometimes all you pay is shipping!). Buy a little at a time, and before you know it, you'll have a home library of your own for a fraction of the cost!
   

This article was originally published on Ehow.com. To read the original article, click here. To read more of my Ehow articles, click here.

Budget Right: How to Create a Budget

In order for you to budget right, you need a budget to work with. Many people are dumbfounded at the idea of creating a specific amount for each category of their spending. Why would anyone want to do that? Isn't budgeting just for those with tiny incomes? I'm here to tell you that its something EVERYONE must do in order to achieve financial freedom, whether you're a multi-millionare or living near poverty line.

The Basics

The best way to start your budget is to begin with some recommended percentages. I'll give Dave Ramsey's suggestions for each category, but bear in mind that if you make less or more the degree of percentage can differ.

1. Charitable Gifts- 10-15% (its good stewardship to give to others and then yourself. However, if your income doesn't allow for this much, don't fret. Just give what you think is a reasonable amount. It's very important to get into the habit of giving and to write it into your budget).
   
2. Saving- 5-10%
3. Housing- 25-35% (if your housing is eating up any more than 35% of your income, I would suggest considering making more money or moving to a more affordable residence)
4. Utilities- 5-10%
5. Food- 5-15%
6. Transportation- 10-15% (I would include car insurance here)
7. Clothing- 2-7%
8. Medical/Health- 5-10%
9. Personal- 5-10%
10. Recreation- 5-10%
11. Debt- 5-10%

These percentages are certainly simply a starting point for figuring out your budget. For example, my husband and I do not match some of these percentages, but we do use them as a framework for what we want to aim for. This will differ among households.

For free budget software, check out mint.com. For financial and further budgeting advice, check out JessicaSwingle.com. For free budget spreadsheets and more information, check out Christian Personal Finance.

Budget Right: Getting Help with Debt

For those of you who read my last post on debt management here, I figured I should leave you with some places where you can get debt help if you really truly don't know where to start.

If you are struggling or unsure about your college loans (or if you just recently graduated, like me, and are dumbfounded at that huge financial commitment you made about four years ago when all you wanted to do was move into the dorms with your friends), check out this site, called You Can Deal With It. This is a great site full of resources to help your manage and get help in paying back your student loans. For example, you can learn about the different repayment options available for your loans and find out who to call if you are about to default. It also discusses loan consolidation, and gives you tips on how to practically manage your money.

If you need debt help with credit cards, this site also provides some valuable information on step by step actions you can take now to help eliminate it.

With the Obama Administration's new financial stimulus plan, there is real help for those of us (in the USA) who've found themselves unable to pay the mortgage. Click here to visit the government's website to determine if you are eligible for refinancing.

I hope this helped steer you in the right direction if you are having trouble getting debt help.

Click here to read my review of Dave Ramsey's bestselling book, Total Money Makeover. I really encourage anyone who's trying to get control of their finances to read his book. You can buy it here.

Stay tuned for more on budgeting right as well as more principles from Dave Ramsey!

Budget Right: Debt Managementt

Debt is a familiar term for most of us. Whether it be student loans, a mortgage or maxed out credit cards, debt is a real and vibrating force in many of our financial lives. Some of us like to sweep it under the rug, and put on the persona that everything is fine and dandy. But in reality, its not so fine and dandy when those statements come in. So how does a normal person deal with this? Do you pay the minimum? Do you ignore it? Is it even something that can be managed? I'm here to answer all those questions in this post about debt management.

Types of Debt

1. Student Loans-- This is referred to as 'good debt' because it really is an investment in your furture. So don't get down on the fact that you still owe over 40 grand. However, it is VERY important to not ignore this debt. If you do, you risk defaulting, causing your credit to not only plumment, but your loan will automatically be due in FULL. If you are having trouble paying your monthly payments, contact your lender. They can usually help you out by offering a lower monthly payment depending on your situation.
   
2. Mortgage-- This is your house. Believe it or not, most people don't own the homes they live in- the bank does! Right now there are tons of government programs in the works to help people who are having trouble paying their mortgage due to variable interests rates and recent layoffs. However, do not simply view your home as an investment-- it a place to live, a roof over your head. You are paying for shelter. Having a mortgage may increase your credit, but be careful not to default on these or you could have trouble taking out another one in the future.
3. Credit Cards-- Credit cards are either your friend or your enemy depending on how you use them. They can be an excellent way to consolidate finances, providing you pay the amount you owe in FULL each month. DO NOT pay the minimal amount due if you can help it. Interest rates, especially now, are jumping at unbelievable heights. If you pay the minimum, you risk getting yourself sucked into a whirlwind of debt that may take years to get out of.

There are other types of debt out there, but I am just covering the basics. So, what do you do when you find yourself with all this debt each month? Here is what I recommend you do in beginning debt management:

• Pay the minimum due each month for student loans. The bigger the payment the better, but only pay extra if you don't have any other debt.
  

• Pay the minimum due each month for your mortgage, but double up on one month each year. This will get your ahead in your payments and help you own that house sooner. It also saves you money that you could otherwise have lost due to interest.

• Pay your credit card bill in FULL each month. If you are a victim of whirlwind debt, I suggest you pay off the smallest amount first. For example, if you own 100$ to credit card #1 and 5000$ to credit card#2, pay the most you can on credit card #1 until it is paid off, but just pay the minimum on #2. Do this with each card until you have no more debt.

In my next post of Budget Right, I will cover how to get control of your finances to avoid incurring any additional debt by creating a budget.

Budget Wednesday: Affording New Clothes

Being a woman, one of my favorite pastimes is hitting up the local mall and shopping my brains out. However, this has not agreed with my budget in the past, and I have found myself- more than once- in terrible regret after a splurge. To prevent this from happening too much, I shop strategically now.

For example, it is pointless to assume that I can go without new clothing for a year- or even a season. I needed to figure out a way that it could work for me (and my budget). The solution? Shopping the sales racks. You would think that this is common sense, but the temptation of new and in season clothing is often given in to. The way I like to go about this is to go into a store for a particular item of clothing (say, a new dress) and look ONLY for that item, preferably in the sales racks. I also keep a close eye on the Sunday ads, checking for closeout sales to see where I might get the best deal. This has worked very well for me over the past year, and I have managed to get my fix of new clothes in a much more budget friendly way.

Going to the mall without a plan is a sure path to overspending. I don't frequent the malls anymore, except when I am on the hunt for a particular item. When I do, it makes the event much more exciting and special, and I'm able to make a fun day out of it. At the end of the day, there is always a good feeling in my heart when I've not given in to impulse buys. I consider it good stewardship. Every now and then, I think its fine to get something that's not on sale- but only if you can truly afford it.

Here are some tips to finding the best deals on clothing.

1. Only pay with cash. Go to the bank and take out a certain amount you are alloting yourself to spend (say, 50 dollars). Leave your credit cards at home to avoid impulse buys and to force yourself to stick to your budget.
   
2. Make a Game Plan. Like I said before, going into a mall without a plan is a sure way to break your budget. You'll spend more on things your don't need, because in reality you aren't sure what it is you need.
   
3. Clean out Your Closet. Sometimes we forget about the things we have in our closet. Perhaps its been tucked away out of sight for the past couple of months, and you've forgotten about its existence. You might go out and buy the very same item over again, because you forgot you had one. Make inventory of the clothing you do have, and a list of things you need, followed by a wish list. You can then easily organize your shopping trips based on those lists and your budget.
   
4. Bring a Camera. I've found out that many times I am tempted to buy things simply because I like the way it looks. Color and patterns catch my eye like nothing else. To avoid buying things you don't need or have money for (or actual use for in my case), take a camera and snap some photos of it. You could then frame the colors and patterns and unique shapes in a collage of some sort. Now you have the item in your memory forever, and your wallet it happy.

I hope this helps you as you contemplate hitting the stores this season for new clothing. If you really are tight on money, I would suggest clothing swaps (such as the one Emily mentions over at Life in Cincinnati), rummaging through secondhand shops and garage sales or even making your own.

When couponing breaks your budget...

Right now, there are numerous money-saving and coupon blogs out there to help you save money. So what's different about Wallet Wise?

You may have noticed that I do not post every sale that is happening in the Saving on Sunday posts, nor do I post on all the free deals available every week. Why do I do this? Because I find it helpful to only post the sales and deals that I actually consider worthwhile, rather than every one that comes my way. I try to keep this blog from becoming too cluttered with freebies and hot deals, as it goes against the spirit of the blog--saving money. You cannot save money if you are constantly spending it!

As a Christian, I believe in being content with what I have and also being a good steward of the resources (not just money) that God has given me. Because of this, I only go to the drugstores if I see something we need for an extremely good price. I bypass candy, snack and pop deals and sales on items we don't have a need for. If however, I see a freebie on a product I know someone else can use, I buy it and then donate it either to a family member or a charity. I try to do this with my blog as well, while also providing links to actual ads so that my readers can see what else is for sale if they choose to.

Also, just because something is on sale for a really good price doesn't mean that I can still afford it. Being a good steward of my money means budgeting well, so I often bypass wonderful sales in hopes that they will come again when I have the funds to pay for it. For example, my husband and I eat lots of cereal and there was a great deal going on at Meijer's this week for General Mills cereal. I wanted to buy 3 boxes and stock up, but I realized that we needed other things (like milk and bread!) and that we already had 2 boxes in the pantry. This has happened many times, and it is something that I personally have had to learn. When I began couponing, I had no idea what was considered a good sale or how often they pop up. Now that I've been doing it for about 3 months, I have figured out that most sales pop up every so often in multiple stores and that bypassing one does not mean I won't get a chance to get it again.

Yes, Wallet Wise will help you save money on the things you already buy, but I hope also that this blog will teach you to save money by not buying things as well. Finding new frugal ways to use what you already have and make do without will make your wallet (and your spirit) swell with prosperity in a way that constantly indulging yourself can never do.

Thank you all for reading this blog as I strive to uphold these convictions and help others find their own!

Welcome!

Wallet Wise is a personal finance blog for those of us who would like to stretch our dollar just a little farther. In these tough economic times, people are getting back to the basics and learning how to live within their means for the first time in decades. This blog will show you how to save on those essentials such as groceries and household items as well as provide tips on budgeting and saving. Getting the best deal for your money has never been more important, and Wallet Wise exists to show you how!

I plan to update this blog as I stumble across new deals in the area (I will reference chain stores). Be on the lookout for the following types of posts:

Saving on Sunday-- A list of all the beginning sales of major chain stores such as Meijer, Kroger, Walgreens and CVS. I will list the best deals and provide links to coupons.

Budget Wednesday-- New tips on budgeting and getting control of your finances. Guest posts will be featured.

Friday Fun-- Ideas on how to have fun on Friday nights without dropping a lot of dough.

Stay tuned for more to come!