As frugalitys popularity continues to grow, were totally on-board with keeping more of our money in our pockets. Last January as DINKs, we keep an eye on our spending and saved for a rainy day and retirement, but with disposable income, we enjoyed little luxuries a lot. But now with a start-up business, we try to think of ourselves as OINKsone income, no kidssince there isnt a steady second paycheck. Were hearing of more and more couples opting to try and live on only OIone incomeand save as our economy recovers. As Nick figures out the ebbs and flow of self employment, weve made an effort to be more savvy and proactive about saving. Were not experts by any means, but here are three tricks that boosted our savings:
Make it automaticMy payroll provider allows me to have deposits made in up to three accounts per pay period. So a set amount from each check goes straight to home.ingdirect.com/, and since we never see it, we dont think about spending that chunk. We use this approach for our IRAs when www.fidelity.com/ takes a mid-month automatic draw as well. Both moves help us boost both retirement and emergency savings. After the changes of the last year, we like to see these numbers go up every month.
Stash away unexpected gainsLast year, I painlessly put $300 directly into our Cubs ticket account by simply depositing rebates and cash-back offers. A few of my favorite money experts suggest naming your different accounts to help remind you of your goals. It works for me. Another piece of their advice that Im just now working on: If you saved with coupons or sales, actually transfer the saved amount to savings. I have used this approach when thinking about making a purchase. And, this works really well at the Talbots outlet that is right around the corner from my office. Would I really want to transfer the full ticket price of upwards of $200 for the dress I could buy for $20? No, thanks!
Stack coupons with whats on saleIve never walked out of the grocery store with a basket full for pennies like some savvy shoppers, but by stacking store specials with manufacturer coupons, Ive bought some of our favorite items for next to nothing. And dont be afraid to branch out beyond traditional grocery stores. Aldi makes Nick crazy because of its layout, but the savings are incredible. It carries similar products as Trader Joes at a fraction of the price since the chains are related, and except for questionable pizza, everything weve had is great including the toilet paper. Big Lots is now my go-to resource for Triscuits. Nick and Wrigley Bear love them, and Ive paid upwards of $4 for a family-sized box that might last a week. Big Lots has them consistently for $2.50.
Almost two and half years into our marriage, weve found a savings plan that works for us, especially key since neither one of us is naturally a saver. And while unexpected expenses always come up, our automatic saving plan helps lower the stress associated with lifes unexpected surprises.
About Us: Were a married couple living in Schaumburg. Nick runs his own law office, www.nickrichardsonlaw.com, and I work in communications promoting eggs. Want email us? Send us your thoughts and comments to: Therichardsonstakeatgmail.com.
