Tuesday, March 25, 2008

Best Money Saving Website. Ever. :)

My favorite money saving website is MoneySavingMom- each week Crystal does a breakdown of deals at CVS, Walgreen's, Rite Aid as well as keeps you posted on the best deals on the internet. If you haven't been there before, you have to go! You'll save money just by reading it!

Decisions, Decisions

We have some big decisions to make at this point. We have a large sum of money from extra jobs and taxes that we need to put on something.

It's definitely a nice problem to have a decent pile of money, but rather sad when you don't get to keep it, and it goes to reduce another number on the screen. This time might be different as we have enough to pay down our car and buy another one.

If we sell our car outright to another person, we will have enough money to buy a decent car with cash. If we can't sell it to another person (which seems likely as we are a finance-only society) we might have to trade it in. If we do have to go with the trade in plan, we will have to wait until our stimulus rebate comes in or until we get another side job to be able to afford another car.

If or when we sell our car, we will no longer have a car payment, which means that we will triple our debt snowball on our other debt. Yeah!

We will be needing much prayer as we try to decide what we should do with our cars and try to find a reliable very used car. At least it's progress. :)

Wednesday, March 12, 2008

The Frugal Downfall of Price Snobbery

One of the biggest obstacles I've encountered in our journey to being frugal with our money is price snobbery. I realized this after I went shopping the other day at Old Navy. I was much more willing to pay $15 for a pair of pants there than I would anywhere I normally shop.

I wouldn't buy anything at Ross or Marshall's for $15 without really thinking about the purchase before I made it, but somehow, $15 at Old Navy was cheap to me, and it was easy to spend there. Why exactly? I don't think it was the clothing quality- Old Navy's clothing is on par with Ross or some Target clothes, but I wouldn't easily spend that money at Ross or Target.

I was being a price snob. I was changing my view of my money based on my surroundings rather than looking at it from the right perspective. If I were in Ross, I would carefully calculate whether this or that was worth $15, but since I was in Old Navy I felt that $15 for an item or two was really cheap.

I have to be careful to realize that no matter the store, $15 is still $15. Next time I go into Old Navy to buy something, I am going to ask myself- would I spend this much money anywhere else?