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How to Get off the Financial Merry-Go-Round Once and For All

October 28, 2016 By The Jenny Pincher 2 Comments

We all know what a merry-go-round is. We probably enjoyed them as kids and maybe still do as adults.

When I was thinking about the title for this article, I decided to look up the definition of merry-go-round. I found one of the definitions particularly interesting:

A continuous cycle of activities or events, especially when perceived as having no purpose or producing no result.

Do you ever feel like that with your money? You go around and around in a continuous cycle with the same money problems and feel like you don’t produce any results. Maybe you pay off your debt just to run it back up again. Or just when you think you are getting ahead, something unexpected comes up and you are right back where you started.

It’s frustrating, I know. I’ve been there, done that and probably blogged about it to multiple times over the years. Yet it still seemed to happen more often than I’d like to remember.

I can’t really remember at what point it was that I decided to do things differently but I knew I couldn’t stay on the financial merry-go-round any longer. It required change and I was ready for the change.

Are you ready to take charge of how you deal with your money? Are you tired of the continuous cycle where it feels like you aren’t achieving any results? Good, then this post is for you! Here are some great ways to get off the financial merry-go-round.

Are you taking responsibility?

You many not want to hear this but you and only you have control of your life. You may be used to reacting to situations so it may seem like other people control the things that happen in your life but that’s actually not true. In order to get off the financial merry-go-round you are going to have to take responsibility for all areas of your life, including your finances.

Are you ignoring your finances now? Have you created a budget or prioritized where your money will be spent? If not, it’s time to take a good look at what is going on in your financial life and take responsibility for it.

Is there anything you have left unfinished when it comes to your money?
Are your finances disorganized, do you have outstanding debts you are avoiding or do you have a disrespectful relationship with money as it flows in and out of your life?
Do you know how much you bring in and how much goes out each month?
What is the “story” you are telling yourself about money? (Example: I will never make enough money, I’m always in debt, I never have enough money, etc.)

Assume full responsibility and begin to take action to change your current situation. You will not get out of your current situation by continuing to have the same thoughts that got you into the situation.

Do you accept defeat too easily?

Money is an interesting teacher and when things don’t go as planned, anxiety and doubt can creep in. After that happens, it’s really easy to go back to those old thoughts & habits that are familiar to us. But is that what you really want to do?

Are you in the process of paying off debts, only to find that when something doesn’t go as planned you give up & throw your whole budget out the window?
Do you then overspend knowing full well you shouldn’t be doing it but you do it anyway?
How does that type of behavior serve you? It might feel good for the moment but then you probably feel worse later.
What are some things you could do instead? (Example: take a walk, get away from the situation or just do the best you can in the moment knowing you can’t control everything. Step away and come back with a calm mind so you don’t do something financially that you regret later – or make your situation worse).
- Here’s an example of something that recently happened to me. Over a two month period, both my refrigerator and washing machine quit. Obviously I wasn’t expecting either of these to happen, especially not so close together. At first I was mad, asking the question “WHY?!” and annoyed that I had to deal with any of it. But I knew there was nothing I could do about it except go with out either appliance (not an option for me) or go find the best deal I could. Luckily, I was able to do that and neither was quite as expensive as I had originally feared. I was especially grateful I had an emergency fund to fall back on to pay for them. I also cut back my spending and put off buying some things I wanted in order to build my emergency fund back up quicker.

It comes down to deciding how bad you want to change your financial situation. You are the only one that can change it and it generally never goes as planned. Even with the most perfectly thought out budget, surprises are going to happen. But the important thing to notice is how are you handling those surprises?

Decide right now what you will commit to with your finances and stick with it! Stick with it if for no other reason but to prove to yourself you can do something different and you do not have to be stuck in the financial merry-go-round!

What are Your Priorities?

Things in our world today develop faster and faster than ever before. With everything happening so quickly it can be overwhelming and exhausting to keep up with. Sound familiar?

With everything moving so quickly, it can be easy to drift away from our priorities & our life can be come out of balance. Sometimes we just need a break from it all and step back and see if the way we are living is really aligning with our priorities. Additionally, it’s a very interesting exercise to see if our spending is aligning with our priorities as well!

Are you putting the essential things first in your life? The things that are most important to you? This includes your family, friends, spiritual development & passions.
Is self-care part of your normal routine? Are you taking time out for yourself to have some quiet time for meditation and relaxation? Are you caring for your body, mind & spirit?
Are you taking time to laugh, be grateful for the good in your life and spread kindness when you can?
Do you think for yourself or do you act because you think you “should” do something. Do others opinions matter more than your own?
These types of things may seem like they have nothing to do with your financial picture but actually they do. Think about how you feel when you are tired, stressed out and not taking care of yourself. Your finances are the last thing on your mind if you feel this way.
And finally, do your finances align with your priorities? If you’ve taken responsibility for your financial situation and looked at how you spend your money you may notice your spending does not align with your priorities. What can you do to change that?

If you are not aligning with your priorities, it’s ok to take a step back from it all and asses what you really want out of life.

Put down your phone and go outside and enjoy the fresh air.
Take time away from Facebook or Instagram to enjoy time with a loved one.
Cut back on the endless news cycle and see how much better you feel without the constant cycle of doom and gloom in your life. I promise you it will make a big difference in your overall well being!

Determining your priorities can help you determine how you spend your time and your money. If you are not sure about this, here is a great exercise to try:

Keep a journal of how you spend your money. How do you handle it? How do you feel about it?
Where does your spending go? Is it in alignment with your priorities?
What are you focusing on? Are you helping others with your money?
What does your spending say about you?
What does it say about your fears?

Are You Ready to Get off the Financial Merry-Go-Round Once and For All?Click To Tweet

What do you really want?

I did a webinar a few months back called Finding Your Spark: Getting Real With What You Really Want in Life where I talked about helping women figure out what they want in life. This includes all areas of your life, not just your finances. Once you determine what you want in life, and you start taking steps towards it, the other things just seem to fall into place (I also call this Lifestyle Design). Here’s how you can do that:

Take a look at all areas of your life: finances, career, relationships, spiritual life, etc. and start to think about what you want in each of these areas. Make a list of the things that make you feel good. Feelings are the key here!
Dream big here, many of us want to stay small because we don’t know how we will get the things we want so we give up before we even get started. Your job is not to figure out HOW this is done. Your job is to decide want you want and what would make you feel good and go after that. The how will work out on its own!
Stop giving attention to what isn’t working in your life and start paying attention to what is. This one thing will change your whole mindset!
Stop participating in the “isn’t it awful story”. You know the one, where everyone sits around and complains how bad things are? Stop doing that!
Instead look at the good, be thankful for what you have and talk about that! Keep a gratitude journal and write down what you are thankful for every day. Instead of telling yourself what you can’t do start to say you can and you will do whatever it is you want to do.
Keeping your thoughts in gratitude and abundance will change your whole perspective!

You are worth it

The other side of the money equation is to receive it and know that you are worth it. You deserve good things to come in your life and if your used to feeling like you have to struggle when it comes to your finances, I’m here to tell you it doesn’t have to be that way!

Closing Thoughts

The reality is that you and only you are in the driver’s seat of your own life. It’s easy to blame other people and make excuses but that kind of thinking will not get you anywhere. If you want to get off the financial merry-go-round once and for all, start to look at things differently in your life. Find the good in the situation and ask “What can I learn from this?”. I promise you there is a gift wrapped up in there somewhere.

What are your thoughts on the financial merry-go-round?

Four Times When Cash “Isn’t” King

October 24, 2016 By Valencia Leave a Comment

If you seek out advice on the best ways to manage credit, most of the available information advises paying for things with cash and only using a credit card when absolutely necessary. This advice is a step in the right direction. Using cash means you’re less likely to purchase items you can’t afford, plus cash protects you from debt.

But while cash might be king in your book, there are times when credit cards rule the throne.

1. When you can get paid to shop

Shopping online is an easy way to earn cash back. Sites like Ebates, allow you to earn cash back for things you are already purchasing. In addition, just about every bank offers at least one rewards credit card where you can earn points or cash back for using the card. In most cases, you earn a minimum of one point for every dollar you spend or 1% to 5% cash back for every purchase. This creates an incentive to use the card, and if you commit to paying off your balance in full every month, a rewards credit card is an excellent way to get freebies or discounts on merchandise, travel, gift cards, etc. You can also redeem points as statement credit to help pay down your balance faster.

2. When you don’t want to risk losing cash

For every vacation we take, we always save enough cash so we don’t return home with debt. And in the past, we would carry a lot of cash in our wallets. We felt this was better than tracking down ATMs in our destination city, plus cash made it easier to stick to our vacation budget (sometimes, I tend to spend more when using a debit card).

However, we broke this habit after one of our friends went on vacation and lost her wallet with $500 cash inside. Needless to say, she never saw her wallet or the cash again, and she had to get a wire transfer from family to get through the remainder of her trip. This was a wake up call for us, and from that point forward, we kept our vacation cash in the bank.

We’ll bring some cash, just in case we purchase from a vendor that doesn’t accept plastic. But for the most part, we use credit to pay for meals and entertainment, and then pay off the card once we return home.

If you lose your wallet or purse on vacation, you can’t replace the cash inside. But if you lose your credit card or debit card while on vacation, your liability for fraudulent charges caps at $50. Just know that it can take your bank up to 10 business days to reimburse fraudulent transactions made with your debit card, which is another reason I prefer credit over debit.

As a tip, travel with a list of contact numbers for every credit card you bring, and make sure you bring an emergency backup credit card, in case your wallet is lost of stolen. Keep contact numbers and the secondary credit card in a separate location from the primary credit card.

3. When you can’t keep up with receipts

If you’re eligible to write-off business and non-business expenses, using a credit card can help you maintain an accurate record of your expenses. You can also retain receipts. But sometimes, receipts become lost or damaged. If you purchase with cash and you don’t have a receipt, you don’t have proof of a particular write-off. If you put charges on a credit card, however, you can pull up the appropriate statement and retain a copy for tax purposes.

4. When you don’t want to pay for an extended warranty

If you’re buying electronics, furniture or clothes, there are benefits to using a credit card instead of cash. Many credit cards include an extended warranty and price protection as a cardholder perk. If you purchase electronics, retailers may offer you an extended warranty at checkout which provides additional coverage after the manufacturer’s warranty expires. The price of the warranty is based on the value of the item.

If your credit card offers an extended warranty, you can decline the extra warranty sold by retailers at checkout because you’ll likely receive similar coverage through your credit card at no additional charge.

Contact your credit card company or read the credit card terms to see if you’re eligible. With price protection, if you purchase an item with your credit card and you find the exact item cheaper elsewhere within 30 to 90 days, your credit card company may refund the difference. There are some exclusions, so read the terms of the program.

The Takeaway

A cash-only mentality can protect you from too much consumer debt and you’re forced to only spend what you have. But this doesn’t mean you should give credit cards the cold shoulder. If you aren’t disciplined to pay off credit card charges in full every month, you should definitely stick with cash. But if you have self-control and you’re committed to spending within budget, using a credit card for certain purchases might benefit your pocket in the long run.

How Retirement Investing Looks Different for Single Women

October 21, 2016 By The Jenny Pincher Leave a Comment

Today’s post is a guest post from Gabby Revel. You can read more about Gabby at the end of this post.

It isn’t something we enjoy contemplating but the fact remains that there’s a good chance we find ourselves entering our golden years as a single woman. According to the U.S. Census Bureau, approximately 36 percent of women over the age of 65 are living alone. So whether we like it or not, ladies need to make certain they’ve prepared for the possibility of going it alone in retirement.

This means saving diligently, maintaining a diversified portfolio with investing and having our emergency fund on hand, fully stocked and ready to go. Solo retirees may face a different set of hurdles that must be cleared for a stable, solid economic foundation on which to build the retirement we want.

What’s the Plan?

Almost half of all Americans, married or single, retire without doing any planning to make certain their retirement savings will provide a reliable retirement income. Your retirement years could span 20 to 30 years, or more. You’ll need to be prepared for that.

Do a critical evaluation of your financial resources. This can pinpoint how long you’ll need to work, whether or not your current job is providing enough income for your retirement planning and whether or not you need to consider making some changes in your current lifestyle. You may need to cut back on your living expenses now to better support your retirement years.

You may also consider an adviser to help you with investing and budgeting decisions. You’ll need to investigate various types of retirement advisors to find the one who specializes in areas that will suit your needs. Understand that bringing these advisors on board will incur money management fees for which you’ll be responsible. An adviser with credentials that demonstrate expertise in retirement planning will be well worth any fees.

When to go with Social Security

Many women will find Social Security as their primary source of retirement income. If this is the bulk of your retirement income, you’ll need to get the most out of this benefit. For most single women, delaying the start of your Social Security benefits is generally beneficial. Each year that you delay drawing your benefits, the amount you’ll draw as income will increase for each year you delay.

When you have concerns about being unable to afford retirement any way you can find to pad your income can be beneficial. One potential option you have is to take out a reverse mortgage, which is also called a home equity conversion mortgage. The difference between an HECM and a regular mortgage is that you will have no monthly repayments to make and no short-term repayment restrictions. A reverse mortgage lender will provide you with a long-term reverse loan which you do not need to pay back in full as long as you continue to live in your home. Therefore, you can use the money you will receive to enjoy your retirement without the extra worry of additional bills to pay or traditional loan default risks.

Generate Income with Retirement Savings

You can use your IRA and 401(k) funds as a way to generate retirement income, each of these plans having its ups and downs. Talk to an investment professional for help in determining if your retirement income can be used to generate retirement income to fit your circumstances.

Take Care of Yourself

While you may have planned on sharing your golden years with someone special who will be there for you and look out for your best interests, life doesn’t always happen that way. You may find yourself going into your retirement as a single woman. That means you’ll have to rely on yourself for proper health care.

If you take care of yourself now, you’ll face less physical challenges as you get older. No one wants to face potentially disabling and expensive diseases. Taking simple steps like proper nutrition and exercise now can have a great payoff later in life. It will also lessen the amount of your retirement budget that will have to go to health care.

Gabby Revel is a freelance writer and editor with over 10 years of experience writing about personal finance, beauty and fashion as well as other lifestyle topics. When she’s not writing, Gabby likes traveling and exploring the world. And she loves cats.

Four Rules for Telling Your New Guy About Your Financial Problems

October 17, 2016 By Valencia Leave a Comment

It doesn’t matter how embarrassed you might be about your financial problems, this is one secret you shouldn’t hide from your significant other.

Relationships are all about trust. And while some people are okay revealing the ugly truths about their family background, past relationships, and even personal weaknesses, they sometimes leave financial problems off the table. Money is an uncomfortable topic, especially if you sense the guy you’re dating has his financial house in order.

Don’t let fear of judgment keep you silent. The sooner you tell the truth, the sooner you can move on. Here are four rules for telling your new guy about your financial problems.

1. Don’t bring it up on the first date

Regardless of how well the first date is going, as a general rule of thumb you should never bring money into the conversation—and you definitely shouldn’t disclose financial problems.

You’re in the “getting-to-know-each-other” phase of the relationship, so there’s still a tendency to pass unfair judgment or make assumptions about one another. At this point in the game, neither of you are invested in each other, and you’re still figuring out whether this is a relationship you want to pursue.

If your date has good credit, money in the bank and makes wise financial decisions, learning about your money issues might be a deal-breaker He might feel your financial messiness isn’t worth the hassle. Get to know each other, and then get candid about your finances.

2. Don’t wait too long

Although you shouldn’t talk about financial problems on the first date, you shouldn’t put it off for too long either. If you hold off until you’re discussing your future together, this can cause problems in the relationship. You need to have an honest talk once you begin opening up and having deep personal conversations with each other.

The time frame depends on how fast the relationship progresses. If you’re spending every non-working moment together within the first two weeks and getting serious fast, bring up the issue sooner rather than later. But if it takes longer for the relationship to progress, you might be able to wait a couple of months. You have to make that determination.

3. Develop a game plan before speaking up

Learning that you have serious financial problems can make your guy nervous. He might have envisioned the two of you buying a home together and starting a family. Finding out about your money or credit problems can throw a wrench in the plans.

To put his mind at ease, don’t bring up the topic until you have a clear plan in place for resolving the problem. You can’t change what’s already happened. But if you acknowledge your mistakes and set goals to undo the damage, he might cut you some slack and help you reach your goals.

4. Make sure your actions speak louder than your words

If you want your guy to disregard your past mistakes, your current financial habits must prove you’re moving in the right direction. If you have bad credit due to poor choices such as overspending and maxing out your credit cards, continuing to spend money with a credit card can put doubts in his mind. If he feels you’re not financially mature, he may put the brakes on the relationship until you learn how to manage money more responsibly.

But if you adopt a cash only mindset and make sacrifices to save money and pay off debt, it’ll be easier for him to look past some of your mistakes.

The Takeaway

Fighting about money can cause tension and get the relationship off to a bad start. Fortunately, financial problems don’t have to interfere with your relationship. The key is being honest and upfront as soon as it’s appropriate, and proving by your actions that you’re ready to make better choices with your money.

Looking for more help with your finances? Check out my new course: Tame Your Finances & Save $5,000 in the Process to learn more.

5 Money Saving Habits That Can Cost You More

June 20, 2016 By Valencia Leave a Comment

A savings routine is one of the hardest things to develop, especially since there’s constant temptation to spend money. Chances are you can’t walk into a store without stumbling on some amazing sale. And if your friends are big spenders or party animals, you might be flooded with invitations that require spending money.

One of the best things about saving money is there are so many ways to pinch pennies that don’t involve a drastic lifestyle change. Small adjustments you make here and there can save money, and the savings adds up. For example, if you stop eating out for lunch twice a week, you can possibly save $15 a week or $60 a month.

But as you come up with a plan to save more, it’s important to recognize savings habits that can end up costing you more.

Here are five habits that can keep you in the red.

Buying an Item, Just Because It’s on Sale

I’m guilty of this, and it’s a habit I’m still trying to break. I’m not a big shopper, but I do love a good deal. And when I’m able to get two or three times my money’s worth, it’s hard to walk away from a sale.

But buying something just because it’s on sale can derail your savings plan, especially if you buy items you don’t need or barely use. That’s money that could have gone toward another purchase—something you were actually in the market to buy. Or you could have put the cash toward beefing up your savings account.

There are times when you’ll have to shop, and if you’re going to spend money, a sale is definitely the way to go. Just make sure you don’t develop a mindset of thinking you have to shop whenever there’s some blowout sale. What helped reign in my spending was unsubscribing to retail emails. I couldn’t take advantage of sales I didn’t know about.

Opening a Store Credit Card to Get a Discount

Some retailers offer their own store charge account, and at checkout a cashier might ask if you’re interested in opening an account to get 10% or 20% off your purchase. This is tempting. But while opening a charge account saves money today, it doesn’t save money in the long run, especially if you carry a balance on the card for months. I’ve found that store charge card accounts have interest rates that are higher than the rate on major credit cards.

You’ll pay interest for every month you carry a balance. If you open a store charge card account to save on your purchase, yet you don’t pay off the balance in full, the amount you pay in interest can cancel out any savings you received at checkout.

Buying an Extended Warranty

If you’ve ever purchased electronics from stores like Best Buy, Walmart or HH Greg, you’ve probably been offered an extended warranty at checkout. The price of these warranties vary based on the value of the item. And with this extra coverage, the warranty company either fixes or replaces the item if it breaks within a certain amount of time—which saves you money because it’s an expense you don’t have to pay out-of-pocket.

An extended warranty isn’t free. For high-ticket items, you can argue that the cost of a warranty is worth the peace of mind. But what you don’t realize is that the purchase may automatically include an extended warranty for free. If you purchase the item with a credit card, there’s a pretty good chance that your credit card issuer offers a free one-year extended warranty as a cardmember perk. So if the item breaks after the manufacturer’s warranty period end, you may receive an additional year of coverage through your credit card provider.

Buying in Bulk

If you do the math, buying certain items in bulk saves money. But you’ll only save money if you actually use all of the merchandise. I know people who buy food items in bulk because they can get more for their money. But at the same time, some of these people also complain of throwing away large amounts of their bulk food because it spoiled before they were able to consume it all. The point is simple: if you’re going to buy in bulk, only buy what you need, or else you’ll end up wasting your hard-earned cash.

Limiting Earnings With a Regular Savings Account

If you have a savings account and you regularly deposit money into this account, give yourself a pat on the back. You’re on the right track and you’re doing more than most people. But unfortunately, you might be shortchanging yourself if a regular saving account is your only savings account. In this case, your savings account might cost more than what you’re getting in return.

Depending on where you bank, your financial institution may charge a monthly maintenance fee for the privilege of having a savings account, which can be as much as $8 or $10 a month. But when you compare how much you’re paying to have a savings account with the amount of interest the account earns, there may be no comparison. Regular savings accounts have pitiful interest rates, so you’re probably earning pennies off the account.

There’s a better way to save. Take advantage of high-yield online savings accounts which pay higher interest rates, and in most cases, you can open an account with no minimum balance and zero monthly fees. You can maximize your return without worrying about fees eating into your balance.

Bottom Line

Just about everybody wishes to save more. And like so many people, you may adjust your spending habits to make this happen. But while your mindset is on the right track, you have to evaluate how you’re saving and ensure you’re moving forward and not backwards.

Cutting Back & Making More Money

As you are working through your budget, you may notice that you are spending more than you are bringing in (this is not uncommon!) and need to make some changes for things to even out. In order to do that, you have two options:

Cut back on your expenses
Make more money

The quickest way to remedy your situation is to do a combination of the two. When we are no longer tied to our debt and letting our money control us, we are able to take charge of our finances and decide what is best for us rather than feeling out of control and reactive to our financial situation. With that in mind, here are some areas to consider that may help you:

Making More Money

Know Where you Are Today – Before starting out on any endeavor, it’s important to understand where you are today. I suggest using Personal Capital to get a holistic view of your financial picture. It’s free and easy to use. It can be accessed via your desktop, tablet or mobile device and will provide insight into where you are spending today and where you might be able to cut back.

Blogging – This is one of the first questions I always get asked so I’m including this one first. How can I earn extra income with a blog? As you can probably imagine, that isn’t a question I can answer in just a few sentences! One of the ways to earn extra income through a blog is from affiliate marketing. This can be a tricky topic if you don’t know what you are doing. A fellow personal finance blogger has put together a course called Making Sense of Affiliate Marketing that will teach you how to earn extra income from affiliate marketing. Michelle teaches you the exact steps she has taken to earn $100,000/mo (yes per month) from her blog. I have went through this course myself and loved it, I highly recommend it!

Bring in More Money – In some instances, you may not be able to cut back anymore so in addition to cutting back, earning extra income can help you to bridge the gap in your income. Sites like Flexjobs and Moonlighting let you earn extra or full time income from home. I particularly like Flexjobs (more detail in my Flexjobs review) and have used their services in the past when I was looking for a IT Consulting job where I could work from home. The service is exactly as described as they are able to aggregate legitimate work from home professional positions in one place. You can even set up alerts to be notified when positions you are interested in become available.

Start a Side Gig – Do you have a hobby you enjoy? Have you ever thought of making income from it? The opportunities for having a side gig (something you work on in your free time) and earning income are endless these days! I wrote an article on how I’m earning multiple streams of income. What do you enjoy doing that can help you bring in extra income?

Survey Sites – Depending on the survey site, you can get paid cash and or have the opportunity to try free products. I have done many of these over the years and always enjoyed earning the extra money. I’ve also been able to try new beauty products, food items and many other things I wouldn’t normally try, for free! Note: you should never pay for information for these types of sites. Here are a few I recommend: American Consumer Opinion Panel, InboxDollars (ios), Swagbucks, Harris Poll, Epoll Market Research, VIP Voice, Your Surveys, Nielsen Digital Voice, Earning Station, Vindale Research, Panda Research

Ebates – Using Ebates can help you earn cash back. By shopping through Ebates at your favorite stores, you earn cash back on your purchases. Ebates will pay you via check or Paypal. Check it out, it’s a great way to earn extra money for things you are already buying (just make sure you really need what you are buying!).

Rent out Your Space – Have an extra room to rent out & want to earn some extra cash? Sites like Homestay.com connect guests to local hosts in over 150 countries. Hosts offer their guests the chance to live and breathe the local culture, to make friends as well as memories and to explore destinations in a truly authentic way. Homestay hosts can enjoy the fulfillment of being a part of their guest’s new adventures and make some money by renting out their extra space! Airbnb is another great site to use to find places to stay or rent your space out. If you use this link to sign up, we both get a $35 travel credit! And, you can earn another $75 in travel credit when you welcome your first guest!

Cutting Back

Consolidate when it makes sense – I’m not always a big fan of consolidating loans but sometimes it can take the pressure off you when you have a lot of payments. (Of course – the trick to that is to stop the behavior that caused you to get all the payments in the first place!) If you are looking to consolidate your debt, I recommend Lending Club. Lending Club is a peer-to-peer lender which means you are able to bypass a traditional bank and get connected with investors who fund your loan and earn monthly returns. Normal credit checks still apply and Lending Club offers unsecured personal loans of up to $35,000 to borrowers with good-to-excellent credit at very competitive rates. I have used Lending Club twice for loans and have been happy with the products and services both times. I highly recommend Lending Club if you are looking for an alternative to a traditional bank.

Cell Phone – change your plan, remove unused lines or ask for a corporate discount. Don’t work at a corporation? Sprint gives a discount for being a credit union member. I personally like Sprint because of the unlimited data, but you may not need that. If not, try Republic Wireless. I know a lot of people who use Republic Wireless and are really happy with the service and the low prices! If your not familiar with the company, Republic Wireless is an innovative new mobile provider, spearheading a wireless freedom movement to return value and control of the smartphone experience to its members. Leveraging the power of the Internet and an engaged community of users, Republic Wireless offers unlimited talk, text, & data starting as low as $5 per month, with no contract required.

Cut the Cable – Years ago I decided to get rid of cable and was able to stream content through my Roku device. I still love my Roku as an alternative to cable and highly recommend it to anyone who is interested in saving money. I wrote a detailed guide on how to get rid of cable and use a Roku device. In addition to my Roku device (where I stream Netflix & Amazon Prime) I also purchased a $6 antenna to watch local channels live. It’s a great set up and has saved me over $1,200 a year!

Find Inexpensive Fun – Looking for a night out but don’t want to spend a lot of money? Yelp Deals, Living Social & Groupon all offer inexpensive ways to go out and have fun without spending a lot of money.

Save Money on Shaving – Shaving is a fact of life and unfortunately buying expensive shaving cream and razors can add up and quick. Years ago I read a tip to use conditioner in the place of shaving cream. I’ve been doing that for many years and it is amazing. I buy a bottle of conditioner from the dollar store and I’m set with shaving cream for quite awhile! Additionally, I discovered a site called Dorco to order razors in bulk at an extremely discounted price. I love this site and use them anytime I need to buy razors. They have mens and women’s razors & razor sets and you can’t beat the price & the quality! Try the Dorco Frugal Gal’s pack and let me know what you think!

Save Money Using Zaycon Foods to Buy Meat – If you’ve never heard of Zaycon Foods, let me tell you about this amazing company. I’ve been using them for the past 4 years to buy my meat in bulk and purchasing this way is a great way to save! The owners of this company have taken the middle man out of the meat buying process and getting food from the farm right to consumers like you and me. They’ve been around since 2009 and the service has been so popular, it’s grown tremendously over the past few years. The way it works is you go online, set up an account, place your order and on the day of your Zaycon sales event, you drive to the location and pick up your food. It’s simple and easy!

If you’d like more info, I have more tips listed on my Get out of Debt & Building Wealth pages. I also have a Saving Money Resources Quick Reference Guide with a lot more detailed information.

If you have any questions, please don’t hesitate to leave a comment or reach out to me so I can help.

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