Tag: finances

Fiscal Health – Updates and Apps

Some of you that read my post on “No Spend Week”, know that my household has opted to have one week where, unless it is a bill or medical, we do not spend money! That means no frivolous expenses, no outside meals, and no grocery shopping! While we will be starting our second No Spend Week on July 9th (through July 16th), I have learned a few helpful tips & tricks as well as wanted to share our results from our first run!

Update
Overall, drum roll please, we saved about $250 during our first No Spend Week!
How?
We did not grocery shop at all! We did some fresh produce shopping on the Sunday before our week started and then reverted to eating the food items we already had on hand. It did force us to get a little creative with our meal planning (see my take on a burrito bowl dinner) but we did not find ourselves tossing any expired goods and started to cleanup our deep freezer items!
Another way we saved is putting some of our desired items on ice and came back to them a week later. We did this in three ways: first we literally just put items in our online shopping carts and then closed out of the page; secondly, we put items on our grocery list so we knew exactly what we needed when we could shop again (added bonus is we had the time to go through our cabinets, fridge, and freezer before adding an item to the list or purchasing only to find out we already had it at home); and thirdly, I put things on ice meaning I could not even add it to my shopping cart!
The last way that we saved is through finding free things to do with each other. So instead of going out to eat, we cooked at home -together. We played video games, watched Netflix, went to the gym, played with the dogs, went on walks, and other fun things at home that we normally have to try and squeeze into the day.

Apps
So I mentioned that I learned a few tips and tricks during this time to help us save those big bucks. Some of the tips are apps that we never really got around to researching before while another is an extension I was able to add to my browser (Chrome).

Starting off with “putting things on ice” – introducing Icebox. This extension is free to add to your Chrome browser and reduces your impulse buying at many online retailers like eBay, Amazon, and Sephora. How it works is it literally replaces the “add to cart” button with “put on ice” and it saves it for you depending on the “thaw” period you set, with the recommended 30 days window as a default. This means that those impulse buys you may regret later or even forgot you ordered when you’re scrolling through the Amazon abyss at 2 AM instead of sleeping, will be saved instead of purchased so when the thaw period is over, you may find yourself realizing you don’t need that hipster cat throw pillow after all. But if there is an item that you really need to purchase, you can override Icebox and purchase the item!

Another two extensions that I automatically added to my browser for those times that I can shop help me save money by either offering cashback or adding coupon codes that I did not previously have. These two extensions are Ebates (which is now called Rakuten) and Honey. Just install and when you are shopping, these two extensions will automatically notify you when they can save you money!

There are three main apps that we have been using lately to help us save money through scanning our receipts, and in the case of the latter two, matching them up with savings within the app for additional money in our pockets.

  • Receipt Hog – This also has a Chrome extension and can automatically link to your Amazon purchase and email, With this app, you get tokens that you can redeem for cash through a visa gift card, PayPal, or an Amazon gift card.
  • Fetch Rewards – This app scans your receipts for points and can link up with additional savings. You can also make money for gift cards at several retailers or donate your profits to charity.
  • ibotta – When you scan your receipt with this app and match it to a number of specific, or general, products, you will get money added to your account that you can cash out after accruing $20. Some items that are specific to a brand can save you up to $4+ dollars while some of the “any” items will save you less but you can still save money and those pennies add up!

So for our first No Spend Week, we were able to do a lot with a little and decided that we will be doing this every month! This is a good way to take back some control in an economy that strives on spending! Plus we get to take our debt down and save more by finding ways to use our time more effectively and get back to basics.

Disclaimer: Please note that some of the links in this post are affiliate and will pay me through a sign-up or utilization bonus. This does not impact your experience or my honest review of the services.

Please share with me any tips you have used to curb your spending and if any of these methods are tools you will use for yourself.

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Frugal Tip – Automatic Savings

Part of adulting is learning to put some money aside in case of that rainy day or emergency or, if you are being really frugal, for those long-term goals like vacations or holiday shopping. However with the state of the economy and the cost of living increasing and paychecks not keeping up, how can we conscientiously put away $$ every week, paycheck, or month?

Introducing AI that helps you save automatically and in increments that your budget allows! I have been using Digit for over a year now and have created several different goals over the course the year which has helped me save over $1.5K with me barely noticing and not having to be actively calculating my bottom line.

Digit is a secure app that links to your bank account to automatically withdraw small increments on a daily basis per your goal(s). The way that it saves you money is by tracking your spending and calculating upcoming bills so it never depletes your account. Plus, you can setup a “low balance protection” clause so when your account dips below your set amount, Digit will automatically transfer money back to get it above that minimum.

For example, I currently have three goals – “Rainy Day” which is simply a pot for emergency funds; “Credit Card” which is a newer feature of Digit that automatically saves money from your checking account and pays your credit card, lowering your monthly balance; and “Gifts” for the Christmas season (this one also has a count down so it’ll automatically stop saving after December 1st).

So yesterday, Digit reviewed my account and my spending habits and automatically saved me $19.94 across my three goals. I also have a maximum amount setup so Digit can never pull more than $10 per goal, regardless of what my checking account says.

There are some days that Digit does not save me anything at all because of what I have upcoming financially. There are others, like yesterday, that it moves over higher amounts. Additionally, you can pause your savings if you ever need to for any reason and set an automatic window so Digit resumes without you having to stress.

Every new Digit subscriber gets about 90 days without a charge and there is a $2.99 charge monthly thereafter, but between its efficiency and ease, I feel that the charge is justifiable.

You also get a savings boost which essentially similar to your savings account interest. This is quarterly and it does start at 1%, so it is not that big, but I have been able to accrue about $7 since October 2018.

If you want to save some money without the stress of having to move money every month or want another way to save, try Digit! And let me know if you find this app helpful OR if you have another way that YOU save!

Disclaimer: This post is NOT sponsored and it my personal opinion of the app. There are links in this post that are affiliate and do provide a small payment to me but do not alter the experience or savings benefit for you.

Frugal Tips – No Spend Week

Being an adult is hard! The worst part are the bills that come every month and the cost of living that continues to increase despite salaries not being able to keep up.

So in order to combat some of the mundane adulting tasks, the I have decided to start installing some “frugal tips” into day-to-day living. Some tips have helped me save money. Some tips have helped me knock down some debt. Some tips have helped me find some new and exciting adventures. And since they have been fairly beneficial, I wanted to share some of them!


This week’s challenge/tip: No Spend Week


While the title of this week’s tip, and challenge, is pretty obvious, the purpose behind it is to not spend any extra money! This may have been something that has been written about before, normally called “no spend months,” but there were always exceptions – food being one of them.

While that is difficult, I feel that food shopping is one of my vices – I can go to 4 stores on a given day and shop way beyond my list. Hubby and I do eat it all, but that also feeds into the cycle of over-indulgence and our healthy journey.
So, this upcoming week, we will not allow any food shopping as well as no erroneous spending except for health/medications and bills. Anything we normally would have purchased is put “on ice” and can be revisited the following week. That also means that we have to only eat items we already have – think of it as a food clean-up too!
We cannot spend money on anything from Amazon or other retailers, and if the appointment for any personal indulgent item (like my nail appointment) can be moved, it should be!

The challenge starts today: June 17th and ends on Sunday, June 23rd.

The rule: if you were going to spend money on any “fluff”, it has to be deposited into the savings account. That way, at the end of the week, we will calculate how much we saved. That means that if I was going to buy lunch on Tuesday, I would transfer that $8.00 (or whatever the price) to savings instead.

Who is with me!?