Followers

Saturday, June 13, 2015

Saving Money


It has been awhile since I did a post on how I save funds and s-t-r-e-t-c-h my income. I've been working very hard since last Fall to save funds as I'm planning a trip which I've been looking forward to for awhile and which has been delayed on several occasions already (more about the trip later). The trip has been delayed by factors other than monetary but the careful spending I've been doing really helps me stretch funds and gives me less anxiety over spending on my trip. It bears repeating that frugal living and frugal spending is now a way of life for me. I can give more freely to charitable causes and my work in Africa when I watch my own purse strings at home.



One way I save funds is to always shop the sales.

Clothing

In that vein I've managed to buy a lot of things that I will need on my travels.

  • 2 pair of twill capris at 40% off
  • 2 cotton t-shirts at 40%
Not only did I get 40% off of these items but I also received an extra $10 off. This particular store often gives a $10 off card to get people to shop it's sales. (Savings $60.)

I live in a rainy climate and yet have never owned a proper rain jacket. Now I have two! I purchased the first one last Fall for about 35% off. It is a quality rain jacket but I need to hem the sleeves and haven't done it yet. It is supposed to be breathable but I wore it once (with sleeves rolled up).  I found I was very hot running my errands throughout the day but I intend to use this heavier rain jacket i the dead of winter.  The other day my brother asked me if I wanted or needed a rain jacket, a packable light one for travel. I didn't really want one but he needed one.  In in order to get a discount he needed to buy 2 rain jackets.  So I went with him to check out the jackets and see what I could find. Both of us were able to find packable jackets in our sizes. They are made of smoother material than my first one and pack up to hardly anything. I also find it very comfortable to wear and it has a hood and deep pockets.  It will work great for my travels and only cost $15 marked down from $59. (savings $43.01)

Other things I purchased several months ago: 7 maxi dresses (4 with small cap sleeves and 3 sleeveless). Two of the dresses are the exact same pattern but one is a smaller size. I purchased these on line at clearance prices. The best savings were the 4 dresses that cost $79.99 reduced to $19.66 (savings $60.33 x 4 = $241.32).  The other dresses actually came with coordinating scarves and bangles (a total outfit) and were considerably reduced.  I don't remember the original price but think they were $89.99 I paid $19.99 (Savings $210.00). I've actually worn all the dresses but 1 already and have gotten a lot of use out of them. They are a lot more comfortable than wearing pants and capris on a hot day and look a far sight better. Everywhere I go I get admiring glances and outright compliments. I feel so well dressed when I walk down the street and see women and girls in their short dresses and short shorts.  For various reasons, I just cannot dress like they do and I do like to be comfortable. Total savings on dresses $415.32.

Total Clothing Savings:  $ 554.33

Telecommunications

I cut the special channels I had ordered on a 6 month promotion. Initially I opted in to these special channels as a way to see what I might be missing and because the channels were half price as an introductory offer for 6 months. I ended the first offer at about 5 months and took another package but ended it at 3 months. I just felt these channels offered nothing interesting but was glad of the chance to test them at a reduced price. Technically this isn't savings because I spent some money on channels I did not need. But it is a good use of funds to experiment and try out channels at reduced prices so you don't waste money paying full price. I could save a lot more money if I cut back to basic service altogether or cancel my subscription.  For various reasons I have not done this. Now I'm waiting to see what changes are coming as the Canadian Broadcasting regulatory authority is reforming the telecommunications industry in Canada.  This includes banning 3 years cell phone contracts and now looking at changes to television channel packaging.

I reduced one phone bill by cutting out voice mail ($10 a month) and increased long distance plan from 300 minutes to unlimited (which is really 1000 minutes), an increase from $6. to $20.  (This is to save the overuse of minutes in the plan which cost almost $19. dollar a month on top of the $6. plan).  These minutes are used for talking to mom every day and 300 minutes isn't enough time for the entire month. The operator also gave me a $10 monthly discount because I asked whether the package deal was the very best they could do. I am not sure how long the $10 discount will last but however long it lasts it is a real savings. I will assess things in another few months. Savings $20 a month for voice mail and discount.  Another $4. a month or so will be saved on long distance charges.

Total savings on phone plan: 24.00 a month.



Gifts

I don't give so many gifts anymore but I still do like to give birthday and Christmas gifts to family members or very good friends. I have a few birthdays coming up in August and so I've been keeping my eyes open to gift ideas.

1.  For my pastor I've purchased a wonderful CD of instrumental Christian music - Regular price $13.98 purchased for $.99 (Savings $12.99)

2. For a friend I purchased a beautifully wrapped tea set for 2 which includes 2 china cups, a box of tea, and spoons placed in a reusable basket and wrapped in cellophane. Not sure the original price. I purchased it for $3.99 at a local thrift store. I placed it with nice gift paper in a large box along with a pair of denim jeggings marked down from $69.99 to $9.99 (Savings $60.00)

3. For another friend I bought a pendant marked down from $69.99 to $19.99 (Savings $50.00). This one is for a friend who lives in USA and so has to be small to reduce mailing costs.

Total spending on gifts is  $30.97.  This spending was not totally necessary but I like to appreciate the people in my life now and then. Especially if they have been a good support to me or they are celebrating something special.

Total savings on gifts:  $122.99

Household

I regularly shop sales for food and all household items too. Since I last posted about savings at the pharmacy and points I've managed to save and use points worth $85 on two separate occasions since about March. I now have another $85 earned.  I don't normally earn so many points in such a short time but I've been getting wonderful multiplication of my spending by using promotional coupons.

I manage to earn  points by buying necessary household needs like toilet paper, paper towels (use sparingly), laundry detergent (I no longer use home made liquid detergent in my HE washers. If anyone has done this I'd be interested in knowing if you've experienced any issues with the washers), etc. I will be using my next $85 on purchasing vitamins which are very expensive. I can further increase my savings by waiting until the vitamins are on sale and they seem to be on sale right now. I didn't tally all the savings on monthly spending for household items purchased at the drugstore but it is huge. That is how I save the points to get more spending dollars to use on other things I need.  One thing I have learned not to do is spend on items I don't need just to earn points. Instead I rapidly earn points by looking for items that multiply the points earned by up to 20x. I also signed up for special offers to get significantly higher points for items I regularly use.

I also regularly save money on the food bill. This is getting harder and harder to do so I no  longer shop every week for meat. This might happen once or twice a month now when there is a decent sale.  Savings still add up but I don't tally this. I don't have time.

Last but not least, earlier this week I purchased a wool mattress pad (for aching back). I purchased it at a store closing out sale marked down from $139. to $85 (savings $54.00) . This wasn't the best sale but I know the price of wool and the mattress pads made of wool. Even at the regular price it was a bargain. I've actually been using it all week and it is comfortable to sleep on.

Total household savings:  $54.00 + ($85 x 3) $255. (dollars earned at drugstore since March) = $ 309.00

Other

I don't just stretch the dollars by careful shopping on clothing and household food items. There are many other ways to save funds.

Eating out is one of the biggest sources of monthly expenditure for many people. When I go out I try to limit my dining budget to coffees/cool beverages and small, inexpensive places where I can get a wholesome meal (there are few of these places around but you can usually find one or two in your jaunts around the city). I prefer to have my coffee and meals at home so I can control what I eat.  But from time to time you can't and I'm not at that stage where I pack my lunch with me (I may get there). Also you need to get together with friends now and then over coffee and a meal. Most of my friends like to "go out" rather than eat at home. That is the social scene in Vancouver.

Entertainment is another big expense for most people. I limit my spending on this to one concert in a blue moon. I seldom go to concerts due to the expense but if I really want to take in an event I will. Last time I went to a concert it was for the Soweto Gospel Choir. That was a real treat and it was already 4 years ago!  Movies are something I like to enjoy. I save money by going to matinees and cheap days. I also don't bother with the snacks. I always carry a backpack and have my own healthier snacks inside if I really need to eat something. I carry water wherever I go also. Every time I go to a movie I earn points toward a free movie. If you go more often you get a free movie more often. I haven't been to a movie in a long while. Though I've certainly been meaning to go I have just been too busy. I busy myself with other entertaining things: books, television, blogging, crafts, gardening, day to day life.

Crafting is very expensive too especially since I have numerous hobbies. I always look for products on line and have now built up quite the stash of yarns. The last balls of yarn I bought were marked down at Michael's from $7.99 to $3.99.  I don't really need to buy more. If I had more room I probably would have even more yarn and other craft items for I also love to crochet, bead, sew, quilt, etc.



Books and magazines can be very expensive but such a source of pleasure. I get most of my books at the library. Recently I've been buying a few new books again because I've been looking for specific books that I can't get second hand in local shops.  I'm limiting the purchases to what I am definitely going to use as reference books right now.  They are books I've already read at the library and know I will use and related to health and/or cooking.The library also has magazines but you need to read them at the library. I just do not have time to sit and browse through magazines there but would love to do that some day. They also have printed news if you like the newspaper but I do most of my news reading on line in bits and spurts throughout the day. It is a lot quicker.

Hair care is a huge expense for most women. I've cut down on the cost of salon visits. I only go 2-3 times a year now for a cut and sometimes colour. I do my own hair at home using henna (a $10 bag lasts me about 1 year) or reduced price hair colouring ( a box costs me anywhere from $6.99 to $8.99 on sale and lasts one month or 1-2 uses).  I stopped using store bought hair colour to reduce my toxic load. I used only henna for 2 years.  Lately I have reverted to colour in a box again because it takes too much of my energy to put on the goopy henna and let it sit on my head for 2 hours then try to wash it all out.  It is much easier if I get the hair dresser to do it.  After my travels I will likely return to using henna to reduce chemicals on my body and also to save the pocketbook.



Running the home and paying for things like electricity is also very expensive. I monitor my power bills and try to reduce expenses by keeping the heat off through much of the winter as possible. I make use of heavy socks, sweaters, far infrared heating pads and mattress pads (I'm aware of concerns over emissions so have been moving to flannel sheets, more blankets, socks in bed, thermal pjs). Another huge savings is to use energy efficient appliances. All my appliances are energy efficient and save not only water but power usage and is my little bit to preserve our natural resources. This has made a big difference in my monthly household costs. Whenever I can afford it I want to update the bathrooms and install water efficient showers and toilets.

Conclusion

Since November I've managed to save just over $1000. Canadian dollars on clothing and household food & toiletry items (toilet paper, etc.).  These are things I need to buy.  I haven't included savings on all the other ways of saving money which I've mentioned (electricity, etc.).  If I wanted to do a really detailed analysis it would take me far more time than I want to dedicate to this exercise.  I know I've actually saved more money but the savings are on things that are more wants than needs. For example, massage services and acupuncture.  There can be considerable savings to be had if one looks through Groupon first. Only look if you need something and will use it soon otherwise you will be tempted to spend more than you should. Though these kinds of items are more in the want category they can also fall into the need category.  For example, I take massages, foot reflexology and acupuncture for pain and muscular issues. So it is a form of health care and health care costs are never frivolous if the aim is to improve or maintain health.

Saving money is a constant challenge and a constant task.   I said to the young clerk at the pharmacy the other day that all this coupon business was a lot of work and it is like having a job.  She knows me well and said 'yes, I'm sure it is but you are really saving a lot".

If you are like me you get a buzz by savings of 50-60% and if I can get the 90% savings now and then, so much the better! I feel very pleased with myself when that happens. I am pleased because I know I am spending wisely the funds that have been entrusted to me. I can also give to others less fortunate and help the most vulnerable in Kenya. One thing to remember though is not to spend for the sake of spending and accumulating.  There are also many other ways to reduce costs and expenditures. I've highlighted a few of the things I do regularly which adds up to significant savings over time. Here's to wise spending and happy savings.




18 comments:

  1. What a great post, and I love your tips! I enjoy browsing thrift stores, I find so many things (and really nice, too), and at great prices! Thank you so much for sharing.

    ReplyDelete
    Replies
    1. Thank you Linda. I too enjoy browsing thrift stores but don't go in very often lest I be tempted to spend. I usually go in when I'm looking for books.

      Delete
  2. Thank you for all the tips and sharing on ways to frugal spending. Being a retiree, I too have to watch my spending.

    ReplyDelete
    Replies
    1. Hello Nancy, thank you for stopping by. I too am retiree so watch my spending. If I don't, I can't do much to help others in Africa.

      Delete
  3. You are really good at this! I wondered where "snap that penny" in your URL came from and now I see! Indeed. Great hints and the best thing is the WHY of your savings.

    ReplyDelete
    Replies
    1. Thank you Sallie. I appreciate your kind comments. Yes, now you know where my URL comes from though originally I just wanted to use "Snap That". It was already taken. I hope you can find some hints/tips for saving money here. I started to slash costs in earnest after my first visit to Africa and that's how the "why" started :-)

      Delete
  4. Hi Joyful, This is actually a pretty amazing post. It made me think of my days teaching. One of the classes I taught (at the high school level) was called “Business Math”. Despite the title, there was plenty of curriculum to help the kids learn about using math to help with the business of living well on a budget. If I was still teaching today I would be asking you for permission to print out your post and share it with the students. So many good ideas! Well done to save more than $1K over the last year. In your conclusion you said, “One thing to remember though is not to spend for the sake of spending and accumulating.” I would sure like to second that. The older I get the more I appreciate the wisdom in that. I also must commend you for saving money and yet still doing some careful gifting to those who need it. Thank you for sharing all the information in this post and, also, for your very kind comment on my post last Friday. Hope you are having a fine weekend!

    ReplyDelete
    Replies
    1. Hi John, I'm so glad you like my post and that it was worthy of a school lesson. I think it is always good to use real life examples in a classroom don't you. It makes it more meaningful. I still remember my days in mathematics so long ago, lol. Back then I used to ask the teacher "why do we need to know this?". I know many teachers get asked the same question. I hear you too on the accumulation issue. We share the same thoughts on that one. Have a wonderful day!

      Delete
  5. It sounds like you are doing a very thorough job of saving money. I'm a fan of charity shops and find most things I need for myself and often gifts and that saves me a lot of money. It's wonderful you have been able to save a thousand dollars toward travel. It makes all the work of shopping the best prices worth while!

    ReplyDelete
    Replies
    1. Hi Cynthia, I do try my best to save money. I know I can do more if I really want to give up some things but I take it in baby steps. I've given up the fancy clothes, the hair appointments, the yearly travel, the daily muffins, specialty coffees and regular java, the regular dining out, the books and magazines. So I've pared back a lot of costs and hopefully in future can do more. Thrift stores are a good place to shop if you really need something and aren't tempted to buy more than you need. I try to avoid physical stores as much as possible these days.

      Delete
  6. Very good tips Joyful! I'm also trying to save as much as I can. Shamefully, I used to spend a lot on clothes but I have stopped that now, I wear my daughter's clothes so I don't buy anything anymore. I save a lot on food also as we don't go out to eat, why eat out when you can cook at home the same things. What I mean is that here we have only Italian food restaurants so it doesn't make sense to eat out. McDonald's has opened recently so we do go there but just for a coffee or a sweet. I love the American atmosphere, it reminds me of the many years I spent in New York.

    ReplyDelete
    Replies
    1. I totally understand about "used to spend a lot on clothes". When I was working I also spent a lot on good quality clothing and shoes. I didn't have time for much besides work so I made sure I was well dressed and comfortable. Comfort and quality generally equates to higher cost but longer lasting. I found that to be true. These days I do not need to dress the same as I did back then but still like to look nice so probably buy more than I need to. I only buy on sale though. That is a given. It would be very easy for me not to eat out if we only had Canadian food in our restaurants but I live in a wonderful city where you can find virtually any ethnic food your heart desires. Now and then I partake of it. It is nice to go and have a coffee (and/or sweet) at McD's once in a while. It is good to get out and savour the atmosphere of being in a new place. I bet you had a wonderful time in NYC. Do you miss it?

      Delete
  7. Your money saving tips are commendable, I have learned a thing or two from from you. A very good post x

    ReplyDelete
    Replies
    1. Thank you Joy! I'm so glad I covered something in my post that you could learn from. Happy savings!

      Delete
  8. Thanks for this interesting post, Joyful, your saving money tips are really excellent!

    ReplyDelete
  9. Great post. Our big leak in our budget is eating out...mainly due to my dislike of cooking lately. I really need to get back to having every penny accounted for. The last few months I have left a buffer in the checking...and of course, that was spent on eating out. Nothing fancy, sadly.

    blessings, jilly

    ReplyDelete
  10. Congrats on your savings! It sounds like you are a real bargain shopper!

    ReplyDelete
  11. we need this....all those simple steps can definitely save alot :)

    ReplyDelete

I do love to read all your comments and will do my best to return the courtesy. If you are only on Google+ I will not be able to leave a comment at your blog. I do apologize in advance. This blog does is unable to accept hotlinks or anonymous comments.Thank you for understanding.

African Music & Happenings