When I first met my husband he was convinced that if an item was on sale, even if it was something he’d use once in a lifetime – i’m talking a surfboard and we live in Iowa, he’d buy it. It took some shopping training from moi, the only self-proclaimed shopping master, to convince him that just because it’s a bargain doesn’t mean it’s something you HAVE to buy. There are plenty of “money-saving moves” like this one that seemingly save you loads of dough, but in the end have you with items you don’t need or will never end up using.
What am I talking about? Perhaps those deal of the say site vouchers sitting unused, or buying in unnecessary bulk. The financial Guru’s at MSN Money and Get Rich Slowly, share these and other “moves” that are really not saving us any pennies at all. The next time you find yourself buying a coupon to save more later, or purchasing an item because it “feels” like a good deal and something you may or may not need. Think twice. You may be costing yourself much more than you’re actually saving in the end.
Wishing you successful saving.
Sarah Foss, SmartyPig’s Media Mad Woman SFoss@SmartyPig.com
Sometimes we get stuck in our own little world, finances on the back burner, and bam! Before we know it, we’re in trouble. How can you tell? The folks at MSN Money give us the warning signs this week in a smart article. Check it out here and look for your own red flags below.
1. You keep missing bill due dates.
2. You’re opening more lines of credit.
3. You’re making credit card payments…with other credit cards.
4. You’re not contributing to a savings account each month.
5. You have no idea the state of your credit.
6. You have nothing in reserves.
7. You’re paying bills with your 401(k).
SmartyPig saved my behind in a big way this winter. I’d been saving for a down payment on my first home. It’s something I had been working on for less than a year, but with almost $7,000 in the bank, I was making some headway. I work in a call center, and while job security is typically good, my company had just been purchased by a competitor and rumors were flying that lay offs were on the horizon.
Unfortunately, the rumors turned to truth a month later when I found myself jobless and looking for quick work. While also being a college student, my bills were high and my skills weren’t quite yet where they needed to be. It took almost 3 months to find new employment. Luckily, I got by each of those months by careful planning, budgeting, and (sadly!) dipping into those funds I had saved with SmartyPig. It wasn’t my intention to use that money to cover me in my time of need, but I’m sure glad I had it. My only alternative would have been my credit cards.
I’m not back working, and socking away even MORE into my goals each month. Thanks SmartyPig!
Spring break! And to save for holiday gifts next year. – Sarah P.
We use SmartyPig to save for emergencies. A couple times a year something arises in our home or with our cars where we have to cash out our accounts. It’s not a pleasant experience, but knowing that we have that money safely tucked away, saves us each time. – Pat C.
I love SmartyPig for their Rewards. I save for the holidays and birthdays and cash out goals to buy gift cards for places like Amazon and the Gap! – Katherine
I love it. Just started my account back up for a Pet Fund. So next year I will have enough to take animals to the vet and meds and not hurt my budget then. - Tiffany E.
We have been with SmartyPig for a few years now. We love the tools, we love being able to save for things with purpose. And know we are getting closer and closer. But the best part is when we save for things we don’t want to save for and then find out we do not need it! It is like getting a huge bonus! – Emily J.
The weather is heating up and you may find yourself looking for a few new pieces to add to your spring wardrobe. While you shop, don’t forget to cash out with SmartyPig’s Retailer’s like the Gap, Old Navy, Macy’s and more! You’ll earn yourself 11% cash back, and hey, that’s another pair of flip flops to sun your toes in .
Wishing you successful saving.
Sarah Foss, SmartyPig’s Media Mad Woman, SFoss@SmartyPig.com