According to the U.S. Social Security Administration, there are currently 2.9 workers for each Social Security beneficiary. By 2036, there will be 2.1 workers for each. Many short-term economic problems are facing our country. We can’t continue to ignore the current deficit that Generation X will be left paying off more and more debt left by generations before them. FiPath wants to help Save Generation X with their latest campaign. FiPath is an independent site that provides financial education and collaboration for all consumers. The “Save Generation X!” Campaign challenges Gen Xers to take control of their financial future. For each new member, FiPath will donate $1 to reduce Social Security debt. Join the campaign today www.savegenx.orgThis is dedicated content. Want to reach tens of thousands of savvy spenders? Read our blog marketing page.
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I share five must read blog posts about saving money every Friday.
Fitness on a budget – How to create your own free home workout plan and exercise routine. (MoneyCrashers)
Wasting money – Ten things you do to save money that end up costing you more. (Wisebread)
Debt reduction – The Silicon Valley Blogger shares three do it yourself debt reduction programs to beat debt. (The Digerati Life)
Money resolutions – Here are five ways to make your money resolutions stick. (Mainstreet)
Movie ticket price hike – The movie business didn’t fare well last year. Experts are predicting movie theaters will charge more for admission. (Time Moneyland)
Fix broken powder make up – A blogger discovers how to “fix” powder makeup that has broken into pieces. Pretty nifty trick!
This post is copyrighted by BargainBabe.com. Any other site posting this content is violating the DMCA.
dieselbug2007 / Flickr
I share five must read blog posts about saving money every Friday.
The Supreme Court put the breaks on a job discrimination lawsuit against Walmart. Find out how this decision will impact private employers and YOU. (CNN)
Want to even out your electricity bills throughout the year? Consider these 10 budget billing disadvantages before changing your payment plan with your electrical company. (Compare Electricity Rates)
Borders plans to sell itself by July 1. Have any Borders gift cards? Use them before it’s too late. (The Detroit News)
Why are you in debt? Learn to control these four problem behaviors to stop spending money. (The Digerati Life)
Is Extreme Couponing hurting shoppers’ self esteem? Those who use coupons can’t realistically keep up with the savings. (Suddenly Frugal)
By Bobbi Burger Brunoehler of Bobbisbargains.
wrestlingentropy/flickr
My son has officially become an adult. I know because he gets credit card applications almost every day. I’m amazed at what banks are offering a teen who does not have a job or any way to pay off the debt he might incur. Juxtapose this against the tremendous scrutiny that my credit report underwent recently when I applied to get a mortgage and you can see that something is amiss. Why is my penniless son being lured into debt while the banking industry is making great credit-scored working adults pay huge fees to get a fully collateralized mortgage? Sorry, I don’t have the answer to this question, but if anyone else does, be sure to enter a comment so that I find out the answer.
What I DO have the answer to, is how to save a lot of money by (more…)
I got so caught up last week with the “I BRAKE FOR BARGAINS” bumper sticker giveaway, that I forgot to pick a winner of Natalie McNeals’ The Frugalista Files. If you missed my book review, Natalie chronicles her desperate attempt to escape debt while still living a fabulous life. She keeps herself accountable by listing her total debt at the beginning of each month. Learning Natalie’s secrets to paying down her $21,000 of debt by about $500 a month are fun to read and very entertaining.
The winner is announced below. Honorable mentions go to Marcia, who shows (more…)
Full disclosure: I have never met author Natalie McNeal but I consider her a frugal blog friend.
When I received Natalie McNeal’s The Frugalista Files: How One Woman Got Out of Debt Without Giving Up the Fabulous Life
Lucky me, because there are so many funny and true moments in this book that I can share them and you’ll know how much this book deserves your $8.56 (on Amazon.com, anyway). Incidentally, I read the entire 179-page book on a flight from Providence, RI to Phoenix with time to spare. The Frugalista Files is fun.
On changing her life: “Being a spending slut is ruining my life. (more…)
This dog is in special fire training. Credit: _dChris/Flickr
Free dog training - Petco is offering free dog training on weekends in January. Fido, stop peeing in the house!
Today only! Free book on debt - Download a free copy of “Debt Free for Life,” by David Bach.
Free diabetic recipes - Get a free diabetic cookbook with 60 recipes from Diabetic Connect. Watch out for sharing your phone number, however!
Free gum - Get a free sample of gum, but watch out for some unusual terms.
Free magazine - Get a free magazine subscription to Rouge, a publication put out by Proctor & Gamble. Expect to come with lots of coupons for P&G brands. (more…)
aturkus/Flickr
I share five must read blog posts about saving money every Friday.
How to wrap a cat for Christmas – This 1:44 video on The Digerati Life is worth watching.
A Third of Shoppers Still Haven’t Heard of Cyber Monday – An exclusive national survey by dealnews.com shows what shoppers plan to buy and when.
How much does obesity cost? - A new graphic and story on MainStreet.com has the numbers on the cost of obesity. Scary!
Grocery and store coupons by region – Just discovered this United States map with links to coupon deals for grocery and retail stores in every state.
Why are so many people in debt? We’re apathetic. Jason at Frugal Dad has had enough. ENOUGH!
Bonus: Worried about the new TSA patdowns? FareCompare.com has a story and video on what to expect.
spiderpop/Flickr
At least one reader was shocked by my disclosure that my monthly budget is $1,200. In a comment about whether a $533 mattress purchase should come out of my budget or my savings, Cindy said, “If you easily have $1200 free cash to spend in a month…wow! That’s not being very frugal.”
Let me explain my budgeting system and why I give myself so much leeway.
I have tried many, many budgeting systems, from tracking every penny to estimating monthly costs by category. None of them worked because they all relied on past purchases to predict future ones. What I spend my money on varies widely. One month a plane ticket may eat up a good chunk of my dollars. During another month a wedding or home project may account for much of my spending.
What does not change is my total spending, certain fixed bills, and my income.
I decided to use this information to create a forward-looking budget (the pdf is safe to download). I start with my income, subtract my fixed bills, and am left with a monthly spending amount (my budget).
My fixed bills include basic necessities and any bills that must be paid including my rent, savings contribution, 1-tank of gas, student loan payment, cell phone bill, and regular prescriptions. Everything else comes out of my monthly budget.
- groceries
- second and third tanks of gas
- gifts
- travel
- clothes
- coffee
- movie rentals
- toiletries
- meals out
- drinks with friends
- hair cuts
- yoga classes
- gardening supplies
- car washes
- vacations
- anything else
Still think $1,200 sounds like a lot?
I gave up credit and debit cards this month to try to reduce my monthly budget. Previously, I went on a spending moratorium to learn new habits. My 15-minute budget may or may not work for you. The first month I used it I reduced my credit card bill by $2,000. Give it a try and let me know what you think.
