Resolution LOW-BUY 2018

[veronikawithak]

Well not quite...We will be on a very big boat come Saturday! @veronikawithak making more memories!
Hey! Where do I sign up for the "Uber Frugal" challenge!? I am totally onboard!
eta: I forgot one category in my plan, perfume. Truth is I am not a big scent gourmand. For 30+ years I have worn CK Eternity. My current bottle is running on fumes...lol, but I think I can make it until February. The upswing is I can always find a 3.4 oz bottle on eBay, for under $30.

Yay! Making memories is the best.. enjoy!

Uber Frugal Month info is here: Uber Frugal Month: The Ultimate Guide To Saving More Money Than You Ever Thought Possible - Frugalwoods

Ugh perfume.. I have close to 100 5mL bottles. I need to majorly slow my roll.

 

[veronikawithak]

Today's Uber Frugal Month email was about the recurring expenses that can drain our wealth.

Example from the email:
Here’s an example (with real live math!):
Let’s say you spend $75 every month on cable. Not a huge amount of money on its own. But, multiplied by 12, that’s a whopping $900 per year on television. For two years? $1,800. I don’t know about you, but I can think of quite a few better uses for my $1,800.
Now, to take this exercise a step further, let’s say you instead invested that $900 in low-fee index funds, and enjoyed a 7% return (which is considered an average annual market return over the long-term). Imagine you kept that same $900 invested for decades (which is the wisest way to invest) and added $900 to your investments every year instead of paying for cable.
In 30 years, your measly $900 would’ve grown to $91,865.74. Yeah, you read that right: $91,865.74. Now ask yourself again: would you rather have $91K or watch television?


My annual beauty spending being $1,000.. would I rather have that or $100K? Hmmm.. That's a great question. I'd probably be just as happy spending $500-750/year and banking the rest! That would mean I can save for retirement faster and leave work for more adventures earlier! Something to think about this year and in the future. I'll see how it goes but maybe I can reduce my beauty spending by $250 to start and then go from there.

 

[lenchen]

I read that today, that was a serious eye opener! so much so I started thinking about if I wanted to replenish some of my skincare items..included in this year's budget.

 

[fur4elise]

@veronikawithak

~ I confess, every time I type your name I smile

Thanks for the link. Yikes! And wow, the Frugalwoods are kind of extreme. And yes some of what I read was uncomfortable...However, I find that I do practice frugality where possible in my daily life, more often than not.

I have always lived on a budget.

That being said, the first thing I did when I got my "big girl" job, was setup my retirement accounts. So that is my big tip to all the younger Specktra peeps. I actually did not start until my mid thirties!!! And I kick myself for not starting in my twenties!


Lol! Hubs on the other hand, will go to his grave before giving up his DishTV!

 

[VAL4M]

@veronikawithak

~ I confess, every time I type your name I smile

Thanks for the link. Yikes! And wow, the Frugalwoods are kind of extreme. And yes some of what I read was uncomfortable...However, I find that I do practice frugality where possible in my daily life, more often than not.

I have always lived on a budget.

That being said, the first thing I did when I got my "big girl" job, was setup my retirement accounts. So that is my big tip to all the younger Specktra peeps. I actually did not start until my mid thirties!!! And I kick myself for not starting in my twenties!


Lol! Hubs on the other hand, will go to his grave before giving up his DishTV!

Ditto on that retirement thing ... LOL I start at 25 (eat that @fur4elise LOL i'm kidding!!!)
I would like to add people should see what their company offer to help saving for your future. @veronikawithak i'm working for a big Canadian western company (cable distributer that you might have heard of ( start with a S and finish with a W)
And they offer Stock purchase plan were they match 25% of your stock purchases, they also offer a retirement plan, ERSP and so on. What I like about that is that everything is taking directly from your pay so that money never land in your bank account. I do adhere to the theory of paying yourself first which mean you put aside money in a saving plan, retirement plan etc.

 

[veronikawithak]

[MENTION=51593]fur4elise[/MENTION]

I agree! Saving for retirement early is so important! I started putting 5% into my retirement at work to get the match when I started working at 27, and I'm so glad I did. After that, out of my net income, 55% goes to debt repayment. I should be debt free by the end of 2019 so 2020 is going to be all about savings and travel for me! Living on a budget is key!

The Frugalwoods are a little extreme, but I just take the principles and do my own moderate version. It doesn't have to be all or nothing. I want to enjoy life now AND later.
[MENTION=79469]VAL4M[/MENTION]

Great point! The only retirement savings I'm doing right now is through my employer match. It's such a great program, and it helps to have that running on the side before I even see my net pay.

Frugalwoods Uber Frugal Challenge Day 5

Pantry challenge - spend less on groceries this month by cleaning out the pantry, combating food waste, cutting down on clutter.

This is a great reminder that I have some bulk items purchased from Costco on sale - oatmeal, lentils, etc. that I need to be better about using up! I'm going to start bringing overnight oats to work for breakfast again which I used to do all the time.

Makeup News

Ugh I've already lost the pricey Bite lip balm I purchased! I'm going to have to look for it some more and hopefully I find it, but I'm not pleased with myself. I usually don't lose them but of course it had to be this one! My lips are pretty chapped after getting over a cold so it needed to be replaced. This morning I bought 3 cheaper ones - one for my desk at work, one for my purse, one for my bedroom. Hopefully I won't lose them when they mostly stay where they are.

 

[shellygrrl]

Makeup News

Ugh I've already lost the pricey Bite lip balm I purchased! I'm going to have to look for it some more and hopefully I find it, but I'm not pleased with myself. I usually don't lose them but of course it had to be this one! My lips are pretty chapped after getting over a cold so it needed to be replaced. This morning I bought 3 cheaper ones - one for my desk at work, one for my purse, one for my bedroom. Hopefully I won't lose them when they mostly stay where they are.

Oh noes! I hope you find it.

 

[JerseyGirl]

Ditto on that retirement thing ... LOL I start at 25 (eat that @fur4elise LOL i'm kidding!!!)
I would like to add people should see what their company offer to help saving for your future. @veronikawithak i'm working for a big Canadian western company (cable distributer that you might have heard of ( start with a S and finish with a W)
And they offer Stock purchase plan were they match 25% of your stock purchases, they also offer a retirement plan, ERSP and so on. What I like about that is that everything is taking directly from your pay so that money never land in your bank account. I do adhere to the theory of paying yourself first which mean you put aside money in a saving plan, retirement plan etc.

All great plans!!

 

[JerseyGirl]

[MENTION=51593]fur4elise[/MENTION]

I agree! Saving for retirement early is so important! I started putting 5% into my retirement at work to get the match when I started working at 27, and I'm so glad I did. After that, out of my net income, 55% goes to debt repayment. I should be debt free by the end of 2019 so 2020 is going to be all about savings and travel for me! Living on a budget is key!

The Frugalwoods are a little extreme, but I just take the principles and do my own moderate version. It doesn't have to be all or nothing. I want to enjoy life now AND later.
[MENTION=79469]VAL4M[/MENTION]

Great point! The only retirement savings I'm doing right now is through my employer match. It's such a great program, and it helps to have that running on the side before I even see my net pay.

Frugalwoods Uber Frugal Challenge Day 5

Pantry challenge - spend less on groceries this month by cleaning out the pantry, combating food waste, cutting down on clutter.

This is a great reminder that I have some bulk items purchased from Costco on sale - oatmeal, lentils, etc. that I need to be better about using up! I'm going to start bringing overnight oats to work for breakfast again which I used to do all the time.

Makeup News

Ugh I've already lost the pricey Bite lip balm I purchased! I'm going to have to look for it some more and hopefully I find it, but I'm not pleased with myself. I usually don't lose them but of course it had to be this one! My lips are pretty chapped after getting over a cold so it needed to be replaced. This morning I bought 3 cheaper ones - one for my desk at work, one for my purse, one for my bedroom. Hopefully I won't lose them when they mostly stay where they are.

Very important to save towards retirement the way you ladies are doing it, as early as possible. I put away as soon as my employer allowed me, it's great to not see the money and have it go directly to the savings. I'm in my 40s now and except for the years I took off when my babies were just born, I have always contributed and it has grown steadily. I try not to dwell on the number, I just know its there and I hope by the time I'm ready to slow down there will be a decent amount.

If I could share any wisdom with younger specktrettes....stay out of debt if you can, or minimize it as much as possible. If you get into huge debt, you take away choices for yourself later in life because you have to pay the debt. I was able to stay home for the first year my kids were born because we didn't have huge debt and lived frugally. My other co-workers weren't always as lucky.

 

[veronikawithak]

I found my lip balm.. when I got home today.. guess I have extras now. I’m going to have very soft lips!

 

[LadyBug13]

Glad you found the lip balm, [MENTION=85692]veronikawithak[/MENTION]!

And as you said, I'm enjoying reading the Frugalwoods emails and finding ways to apply the concepts in ways that make the most sense to me.

I'll be 35 this year, and savings and debt have always been a tricky thing for me. I've noticed that every time I talk down to myself for not meeting a financial goals, I try to remind myself of something I did do that moved me one step closer to meeting my financial goals. For example, a few weeks ago I paid off my AMEX card (I think it was around $936) in full. Normally, I would either pay the minimum or pay the minimum plus the interest, but this time around I decided to just pay it off because I knew I had the money to cover it plus I wanted to be done with paying on the card. I was also nervous that some emergency would happen and I'd need to use the card again, but it's been several weeks I haven't had to use the card once. Tackling my student loans is another story. I was overwhelmed trying to pay off both the credit card debt and student debt, and was able to put my loans on deferment for a while so I could tackle the credit card debt.

I'm coming up on 2 years of self employment, which presents a whole set of interesting things concerning savings and retirement. I'm still researching the best retirement savings accounts for small business owners. Also, because my clients don't take taxes out of my checks, I have to be more mindful in how much I put away for taxes as I pay quarterly now. Fortunately, I'm able to write off a lot of expenses (rent as I work from home, conferences/professional development, cell bill, etc.)

Learnvest is a great financial resource, in case anyone is interested. They have a section on the site on money psychology that's been very useful for me.

 

[LadyBug13]

I am noticing that there's been a gradual shift on YouTube from doing hauls/products reviews/first impressions to more project panning, decluttering, "shop my stash", and overall conscious consumerism videos.

This YouTuber is going on a no-buy for 2018 and gives her reasons why, including that she's developed a habit of buying lots of makeup and nail polishes, only for them to go unopened for years.

Let's Chat! Why I'm NOT buying makeup and nail polishes in 2018

She says, "When you really think about it, it is not something to aspire to, to get a beauty room full of expired makeup."

I watched a video today where the YouTuber said that the best reviews are given by project planners because they've completely used up a product. When I think of my entire collection of makeup, skincare and haircare items, (with the exception of nail polishes and my eyeshadow palettes), everything was bought within the past 6-8 months. I like being able to get through my products and while also enjoying what I have and doing the occasional splurge.

 

[shellygrrl]

I found my lip balm.. when I got home today.. guess I have extras now. I’m going to have very soft lips!

LOL, yep! (Also: yay!)

I am noticing that there's been a gradual shift on YouTube from doing hauls/products reviews/first impressions to more project panning, decluttering, "shop my stash", and overall conscious consumerism videos.

Probably a combination of Youtubers realizing their years of hauling and such (both products they've purchased themselves and ones they've been sent by PR) and having it regularly catalogued on Youtube can have an influence on other peoples' spending habits, having makeup stashes that have gotten very overwhelming to keep track of (especially if they've never decluttered their stashes regularly from the beginning of their Youtube lives), and that minimalism/KonMari/similar have been having "a moment" recently and so they think that sort of thing is what their subscribers want to see.

 

[lenchen]

LOL, yep! (Also: yay!)



Probably a combination of Youtubers realizing their years of hauling and such (both products they've purchased themselves and ones they've been sent by PR) and having it regularly catalogued on Youtube can have an influence on other peoples' spending habits, having makeup stashes that have gotten very overwhelming to keep track of (especially if they've never decluttered their stashes regularly from the beginning of their Youtube lives), and that minimalism/KonMari/similar have been having "a moment" recently and so they think that sort of thing is what their subscribers want to see.

I agree, I think that is part of the reason too.

 

[fur4elise]

Great posts @LadyBug @veronikawithak (see my big smile! ) @VAL4M @lenchen

I feel like we are all on a similar path & shared mindset

Veronika ~ Yay! For finding your balm. I use the same one & would have been equally dismayed.

Speaking of which, while packing a few days ago, I dropped my new Becca gradiant highlighter, on carpet to boot & it shattered!
So be careful if you have that compact. It is super fragile.

eta 10:10 am:
Okay ladies, I may be off the grid until next Thursday. I have been lucky to be able to hop on free wifi at our hotels. I am not keen on paying for internet access on the ship. However, hubs is all about being connected. A business owner thing and this is a primarily a business trip. I'll check in if I can.

eta 10:18 am:
Oh! I decided to set a beauty budget!

I am making it official to be accountable to myself and to you ladies!

I am setting a $100 per month budget. This WILL include my hair care & skincare products.

I believe this is 1/4 - 1/3 of what I spent last year. I will allow roll over of leftover funds...and who knows I may actually spend less.

I am challenging myself!

 

[lenchen]

@fur4elise

I agree! Saving for retirement early is so important!I started putting 5% into my retirement at work to get the match when I started working at 27, and I'm so glad I did. After that, out of my net income, 55% goes to debt repayment. I should be debt free by the end of 2019 so 2020 is going to be all about savings and travel for me! Living on a budget is key!

The Frugalwoods are a little extreme, but I just take the principles and do my own moderate version. It doesn't have to be all or nothing. I want to enjoy life now AND later.
@VAL4M

Great point! The only retirement savings I'm doing right now is through my employer match. It's such a great program, and it helps to have that running on the side before I even see my net pay.

Frugalwoods Uber Frugal Challenge Day 5

Pantry challenge - spend less on groceries this month by cleaning out the pantry, combating food waste, cutting down on clutter.

This is a great reminder that I have some bulk items purchased from Costco on sale - oatmeal, lentils, etc. that I need to be better about using up! I'm going to start bringing overnight oats to work for breakfast again which I used to do all the time.

Makeup News

Ugh I've already lost the pricey Bite lip balm I purchased! I'm going to have to look for it some more and hopefully I find it, but I'm not pleased with myself. I usually don't lose them but of course it had to be this one! My lips are pretty chapped after getting over a cold so it needed to be replaced. This morning I bought 3 cheaper ones - one for my desk at work, one for my purse, one for my bedroom. Hopefully I won't lose them when they mostly stay where they are.

Same here, I did initially did 6% in retirement at work to get the company match. I started at 29. every year I receive a 1% raise of which I add to my retirement account. When I'm debt free at the end of 2020, I plan to save and add a Roth retirement savings account. The frugal woods are a bit extreme but as you mentioned, I use a lot of the tips I've read and modify it to suit my needs.

 

[lenchen]

Great posts @LadyBug @veronikawithak (see my big smile! ) @VAL4M @lenchen

I feel like we are all on a similar path & shared mindset

Veronika ~ Yay! For finding your balm. I use the same one & would have been equally dismayed.

Speaking of which, while packing a few days ago, I dropped my new Becca gradiant highlighter, on carpet to boot & it shattered!
So be careful if you have that compact. It is super fragile.

eta 10:10 am:
Okay ladies, I may be off the grid until next Thursday. I have been lucky to be able to hop on free wifi at our hotels. I am not keen on paying for internet access on the ship. However, hubs is all about being connected. A business owner thing and this is a primarily a business trip. I'll check in if I can.

eta 10:18 am:
Oh! I decided to set a beauty budget!

I am making it official to be accountable to myself and to you ladies!

I am setting a $100 per month budget. This WILL include my hair care & skincare products.

I believe this is 1/4 - 1/3 of what I spent last year. I will allow roll over of leftover funds...and who knows I may actually spend less.

I am challenging myself!

Yay!!! you're setting a beauty budget!! I'm happy we can help each other to be accountable! I'm sorry about your BECCA compact, that really sucks..I've been enjoying everyone's posts, 2018 is going to be great!

 

[fur4elise]

We made it aboard! Hubs is napping. Room is very nice. Vendor is already spoiling us! This may be my last post, using my tiny phone

 

[lipstickaddict]

We made it aboard! Hubs is napping. Room is very nice. Vendor is already spoiling us! This may be my last post, using my tiny phone
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Wow!!!!!! How awesome it that! Enjoy!!!!!

 

[lenchen]

We made it aboard! Hubs is napping. Room is very nice. Vendor is already spoiling us! This may be my last post, using my tiny phone
View attachment 62859 View attachment 62860 View attachment 62861 View attachment 62862 View attachment 62863

Beautiful!!