Are we addicted to spending?

Are We Addicted to Spending?
By Teresa Theriot, Founder of www.TheBudgetQueen.com

My aggravation with the American spending problem peaked this week with my mother. She came home with a pack of batteries from the drug store when she clearly had plenty of batteries in her back bedroom. When confronted, her excuse was that my son was sleeping in there. It was easier for her to drive to the store and spend money on something that she already owned than to wait an hour for my son to wake up. The sad thing is that although most people think the idea is plain crazy, many of us have done it before for one reason or another.

It really got me thinking about how completely unconscious people are with their money, and why so many people are struggling with their finances. What has happened to America? Have we become so completely spoiled that we are addicted to spending? I decided that I had to find the answers, in hopes that I could help people stop spending. Surprisingly, I found many of the answers within myself.

Waiting to buy a new house, I have been staying with my parents rent-free. Having that extra wiggle room in my budget has made me feel a little loose with my pocket book. Although I have a strict budget every week, I was running out of money much faster than I normally do. Last week I hit a fabulous clearance sale at JC Penny and spent my whole budget for the week in one day. I decided that something had to change, so I embarked on a no spending challenge.

On day one, I realized that I was just as bad as the rest of America. In the hustle and bustle of everyday life, I too had become a victim of convenience shopping. Although the things I bought were usually very cheap and I never went over budget, I too have become accustomed to buying things on an almost daily basis. How could I have let this happen?

So, I stopped spending on everything. I said no to lunch out with a friend, even when I had room in my budget, and opted to eat at her house. I turned down my favorite treat, CC’s coffee, and brought my own coffee to the coffee shop to study. I reluctantly turned down my son’s request for a book and told him to use his allowance. I almost caved for coffee filters but used paper towels instead. I made greeting cards on my computer, refused to grocery shop, and easily found ways to use what I already had to get what I needed. My creative juices were overflowing.

My thinking began to change back to what it once was. I felt free and in control of my budget. I started to use the things I already had in a much more conscious way and began to appreciate the things I own. I was happier and having fun making things that I normally couldn’t “find the time” to make.

It’s no wonder that people in poorer countries have less, yet are much happier. They appreciate the things they own. In order to be truly happy, we must be grateful for what we have. In order to be grateful we must make use of the things we own and stop buying more things that we don’t have time to appreciate. There is no other way to explain the sense of enlightenment that I feel than to challenge you to a spend-free week. So, give it a shot, even if it’s just for one day, and you will reap the benefits of what you learn.

Teresa Theriot is a stay at home mother of three children. She is an expert on saving money and founder of www.thebudgetqueen.com.

Getting Busier

Life is getting a little busier now that I've begun to move into my new position as a real estate agent. I have been in the office training as much as I possibly can, although with children, it's proving tougher than I ever thought. I can't wait to see a paycheck so that I can feel as if it is all worth my while. Still my family comes first and I plan to be at least a part time stay at home mom in order to feel complete. I hope that I don't have to resort to sending the baby to day care because I think I would hate that. Yet, I know that we all need to do what we have to do to survive this recession.

This week I was able to enjoy a fantastic sale at JC Penny. The 75% off racks were all $3.97 and under, so I was able to get clothes for the entire family for around $75 plus tax and saved $439! That was fantastic! Although after I spent the money on the sale, I don't really have any money for my drug store deals this week. It's driving me crazy! I am sitting here looking at all of the awesome deals that I am just going to have to pass up! But, the JC Penny sale was worth it. I will just have to wait for next week's deals. 

I also went over my grocery budget again this week!! Can you believe it? The Budget Queen is slacking. Actually, I have been buying groceries for 6 people instead of 5, so it has made a little difference in the amount I am spending. Next week I am going to let my mom buy the groceries so that I can catch up on my budget. 

It's looking like we will be in our new house in the next few weeks and everything will go back to normal, including my budget. This temporary arrangement at my parent's house is costing me a lot more than I ever expected. I don't have my stockpile or any of our stuff, so we are having to replace things that we need. Once I get into the new house, I don't think I want to buy anything for a month. I will probably make it my personal challenge!

Hope you all have a great week! Happy Labor Day! I would love to hear your stories too!!

Moving Forward by Standing Still

Everyone will come to a point in their life, when things are just so out of control that the best thing to do is absolutely nothing. There is a point at which we must all make the decision to be still when every inch our being is telling us to do anything. I have been there and back. With the house falling through and living with my parents, my first instinct was to find a way out, but I couldn't...or shouldn't. To be completely honest with all of you, and myself, there was no good decision in the craziness of it all. The economy sucks and despite hopeful jumps in spending, the nation is still out of control. I couldn't make a decision knowing that we could loose everything tomorrow. So, I was just at a standstill. For a month, I made no permanent decisions and it was probably the best things that could have happened. Because, just when we thought we couldn't take it anymore everything became clear and we found a house in the neighborhood we wanted, with the size we wanted, and the price we wanted. To tell you the truth we got a steal. It was a house that we overlooked in the beginning because it needed a little work, and I am so glad we did, because the price came down drastically. And you know that makes it all the more exciting for me. Not only did we find a house, but I got it for what it was worth 3 years ago. Still, I am not holding my breath, because anything could happen between now and the closing, but we are on our way. 

So after assessing the global financial situation and our budget, I decided that I needed to be bringing in some extra income. As hard as it was for me to swallow, I knew that something had to be done in order to protect my family from this recession. These days, there is no promise of job security, and having a single income is very risky.  So, I went to real estate school. (I know, it's shocking.) So, I will be doing this part-time on top of everything else. I will continue to stay home with the kids, and be The Budget Queen, and I will work it into my schedule however I have to. I plan to stick to my current budget and save everything incase things get worse or we loose an income. As crazy as it seems, it is one of the times in all of our lives when we will have to do whatever is necessary to make it through the rough patch. I have recommended this to all of my single-income clients, at least for now. 

I have been sticking to my monthly budget for the most part. I have been taking out an extra $25 per week for Christmas shopping. Things have changed since we moved into my parent's house, so we have been enjoying the wiggle room while we can. We are saving a lot, but we have also taken some family outings that were so overdue. Sometimes I feel like a bad parent for being so frugal, but then I realize the important lessons that my kids have learned from watching me. My son knows how to find the lowest prices online when he wants something, my daughter collects coupons, and they all know how to earn money if they want things. They are so smart about money.

Being that I have been at my moms my shopping has been a little more impulsive. I suppose knowing that I have no mortgage, utilities, cable or phone bill, etc...I feel like I have more to spend even though I shouldn't. I caught myself buying things for other people 3 times this month saying, "no worries, I'm not paying a mortgage." After the 3rd time I knew I was in trouble. Fortunately it was only a coke, a magazine, and a hotdog. But, it could've been worse. So, now that I am aware, I will try to stick to my guns and save every extra penny to ensure that we have a good emergency savings amount when we get into the new house. It's just that I love helping people so much. 

So, today at church there was a bulletin about some additions to the cemetery. I told my husband that we ought to start thinking about where we would like to be buried so that we could secure plots. He said to me, "I thought that you wanted to be cremated!" And I replied, "Yes, because it's cheaper." Then he busted out laughing in church and said, "Only from the mouth of The Budget Queen."

Hurricane Preparation on the Cheap

 Hurricane season has begun and smart shoppers are getting prepared.  Don’t get caught by surprise when a depression hits the gulf.  Be one step ahead of the crowd and start getting prepared now.

 One of the easiest and cheapest things that you can do to start preparing for hurricane season, is to gather water in empty milk jugs. Be sure to wash them out very well with warm soap and water, then fill with water and freeze or store in a pantry. The sooner you start, the more you will have in the event of a hurricane that a hurricane sneaks up on us.

 Bread is another item in demand during a hurricane. The cheapest place to find bread is at your local bread factory store. You can get bread for around one dollar per loaf, even for whole wheat. It’s much easier if you grab several loaves now and freeze them then to run out in the mad rush before the storm.

 Other non-perishable food items can be purchased throughout hurricane season as they go on sale. When you see a great deal on canned food or other meals, stock up.  Check the sales ads each week as they come in the mail to try and score some major discounts and stock your pantry.

 Drug stores, like Walgreen’s, host sales on paper plates, cups, and plastic-ware fairly often. Check your Sunday papers for free and cheap deals at drug stores and stockpile so that you don’t have to worry about how you will wash dishes in the event that you loose water.

 Generators are in high demand during a hurricane, so don’t be caught without one. Start looking into your options now. Check out discount scratch and dent warehouses, like the Sear’s warehouse in Scott, LA. You can get some pretty deep discounts for buying appliances with minor blemishes.

 Last but not least, everyone is looking for batteries on the days leading up to the storm. As expensive as they are, people tend to avoid them until the last minute. Fortunately, discounts stores like the Dollar Tree carry all sizes of batteries for only one dollar a pack. So, feel free to stock up!

 The best way to save money on hurricane preparation is to buy things ahead of time so that you are not forced into buying expensive items right before the storm. Buy a little each week and the damage will not be as bad on your pocket book as if you have to buy it all at once.  You can breathe easier if you are stocked up and ready to go instead of fighting the crowds in the days leading up to a hurricane.

 Teresa Theriot is a stay at home mother of three children. She is an expert on saving money and founder of www.thebudgetqueen.com.

This move is going to be a true test of my budgeting skills. Fortunately, now that we are homeless, I don't have to pay a mortgage, utilities, cable or home phone. I do have other concerns, like how long we will have to stay in a hotel. The hotel that we are in is almost like an all inclusive. Everything is free like breakfast, laundry, entertainment, movies, etc. It's just like home, and I don't even have to clean! I am completely spoiled and I don't know how to enjoy it. I am trying to take advantage of as much of the amenities as possible so that I don't have to spend on anything. Our room has a kitchen too, so we don't have to eat out. The one thing that is driving me nuts is that I can't really stockpile while I'm here. BUT, I can use all of their shampoo and supplies and keep my stockpile full. (That just came to me while I was sitting here writing, yay!). 

Anyway, it has been a roller coaster ride. The house that we were going to buy totally fell through and we are back at square one. Obviously, we can't stay in a hotel forever, so I am hoping that my parent's will take us in on Monday. (That is if my dad's blood pressure can handle us). It would really ease my mind if I knew that we could stay somewhere for free. At least I could buy all of the groceries because I am amazing at getting the most possible food for the least possible price. On top of it all, with the economy the way that it is...we fear that my husband could loose his job. So, we have a tough decision to make. Do we keep the cash and rent to keep us safe in case of a job loss? Or do we buy and risk foreclosing if the economy gets even uglier? Or maybe we could just move to the country, buy a cow, and start growing our own food. Decisions, decisions...

I'll write again soon.

TBQ

Moving Madness

Well,  I received a call this morning from my realtor letting me know that I have to be out of the house by MONDAY! Yes, you are reading correctly...2 days. I have two giant PODS in my front yard and am hoping that tons of people will show up to help. (hint hint). The bad news is (reason for the PODS) I am homeless. Yep, homeless. The deal fell through with the new house, so we've decided to take a staycation at a local hotel. I was able to get some pretty deep discounts for using my Entertainment Book and for paying for the whole reservation up front, instead of being charged when we get there. I think I was able to get at least one night free. I was also able to get the POD discounted with my Entertainment Book. You'd be surprised at what's in there, so be sure to check it for EVERYTHING! Anyway, I am so excited that I don't have to clean for a WEEK! Plus, I don't have to cook breakfast (free buffet), I can work out everyday, and the kids will have free entertainment all week at the swimming pool! I am really looking forward to this! I am hoping that next week my friend in Houston might take me in for free.  - I promise to cook Ange!

The good news is that we think we've found a new home. It will take a little while to negotiate and close, but I know we can be in before school starts. I also have a feeling that we are going to get a great deal because the family has built a new home and they are ready to move in, which puts us in a great position to negotiate. Woo hoo! I'll keep you posted!

CVS Trippin'

I woke up at the butt crack of dawn this morning to get up and do this deal!...even after a long Fourth of July celebration last night! I imagine that everything is gone at CVS by now. Here's what I bought:

Transaction 1:
3 boxes of CVS pencils @ $.99 each - free with ECB's
= $3.20 OutOfPocket
PLUS - this transaction gave me an extra $2 ECB for quarterly earnings

Transaction 2:
3 rolls of CVS tape @ $1.49 each - free with ECB's
- minus $2.97 ECB's from pencils
=$1.62 OOP

Transaction 3:
1 pack CVS pantyliners @ $.89 - free with ECB's
3 boxes of Post Trail Mix Crunch 3/$10 get $5 in ECB's
-minus 3 - $2 off printable coupons
- $4.47 ECB's from tape
= $.45 OOP

Transaction 4:
1 Jumbo pack Pampers @ $8.99
- $1 off Pampers coupon
- $ 7.89 in ECB's
= $.08 OOP

Total OOP: $5.35 (full retail price would have been $32.83 + tax)

THANK YOU CVS!

Trash Talk

I finally ran out of my commercial trashcan liners from Sam's. I bought a box almost a year ago and dated them 8/08 so I would know how long they lasted. I finally ran out yesterday! My husband, The King, said that if he hadn't used them in the yard they would have lasted a full year. I went to Sam's this morning to purchase a new box of the 33 gallon 32o ct commercial trashcan liners and they were $17.44, $5 more than last year. Still, you can't beat that price!

My $220 Summer

Sadly, we have been so busy that we still haven't spent anymore of our summer entertainment budget. We have however been finding free things to do. My eldest went to camp for free for a week at the Lite Center. You can't beat that!! He had a blast and learned so much. We plan on enjoying more of the freebies at the library and I have been collecting coupons for another 'blowout' week at the end of summer.

TBQ House

We sold our house on Wednesday and bought a new house on Friday, so The Budget Queen is moving! The new owners want us out in 2 weeks, so wish me luck! We have been getting free milk boxes from Super One and free papers for packing from The Independent and The Times - sorry guys for wasting your papers, but you know I love you. I am actually getting rid of more stuff than I am packing, so feel free to stop by and pick up some junk before I send it to Goodwill. (just e-mail me if you don't already know where I live). I love my new house, I can't wait for you all to see it!!

Hope you are all having a great week! See you at the coupon swap!