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No Excuse Budget Blog

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Thursday, August 21, 2008

Money in the bank changes everything! How to build the best savings account!
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Well duh, don't you think... of course it changes everything. You can eat and pay your bills, but it also gives the confidence to keep saving.

Have you ever noticed that if you pay for something with cash you feel the money leaving a lot more than if you pay with a credit card... even if you pay the credit card bill in full?

Money in the bank is security and stability.
 
So how do you go about getting more money in the bank?

Easy, make a budget and put any money that is extra straight into your savings account.

It really is that simple. You need to start saving money. I am not a believer or follower in paying yourself first unless you have enough to cover your minimum payments on all your bills. Once you have enough to cover all of your bills (this is after you have tweaked the heck out of them to make your expenses as low as possible) then you need to add all of the extra to a savings account until you have enough to cover your expenses for at least 3 months, but 6 months is better.

Once you have 3-6 months in your savings account then you need to put the amount that you had been putting into savings towards your debt.

You should already have a list of your debts (the free debt budget worksheet from my website, www.NoExcuseBudget.com ) and you need to apply all of this money to the debt that has the highest interest rate. I know it can be tempting to pay off the smaller debts first so that you can feel empowered by having full debts paid off faster, but by paying off the higher interest rates first you will achieve a debt free life quicker and smarter... and that's what matters most!

Just like starting a new job, a debt reduction lifestyle is a life changing event. Once you get started things you think you need won't give you even close to the high that putting money in the bank will.

Happy Saving Everyone!
8:30 am pdt

Saturday, August 16, 2008

Energy, save it, pay for it, or loose it forever. My energy challenge!

As if being in a drought and an energy crisis wasn’t enough, fuel still costs a fortune!

I decided to do a family challenge. I am showing my children our actual energy bills so they can see in numbers how much it costs. I don’t remember my parents ever doing this, probably because they didn’t want us to worry about the cost of anything, and I’m not doing this to worry my children… instead I’m hoping to give them a number to come under for next months bill.


I hate walking into an empty room and seeing lights on and the TV on. It’s an absolute waste of money and energy, both of which should not be wasted. The same goes for extra long showers and leaving the water running when you are brushing your teeth. I feel really old saying this but when I was younger they actually taught us at school to conserve water. We were told to turn the water off when brushing our teeth and to remind our parents to water the lawn at night and to never rinse a driveway… only to brush it off with a broom.


I’m worried about the cost of water, electricity and fuel. But I’m even more concerned that there won’t be any left for my children when they are older.


I don’t think that running out and buying a hybrid is the solution. But I think that if we all do little things we can add up to cost savings and conservation for the future.


Here how I’m doing my part… how about you?


1. Grouping errands. This one step really adds up with gas savings. I actively plan my trips and it’s not always easy when you get your work assigned like I do (which is at random times at random days) but I still manage to do as much as I can grouped together.


2. Turn off the water when I’m brushing my teeth.


3. Take quicker showers. Did you know that a bath actually saves water and gets you cleaner? It just takes longer and time is a consideration too!


4. I bought some reusable canvas bags. The hardest part about using these in the beginning was remembering to use them!


5. Constantly remind myself and others to turn the lights, TV, computer, printer etc. off when not using them.


6. Recycle. If you really worked it you could make some extra money just recycling your own items. It might also help you spend less money on items that you have to pay a deposit on as the deposits add up too. Don’t forget to recycle your ink and toner. And don’t forget to purchase recycled ink and toner.


7. I replaced my toilets and dishwasher. These really needed to be replaced and I was at the point were they were just not functioning right. Having to run the dishwasher twice is a waste and expensive, but when I replaced these items I looked for the energy star products that save on electricity and water and I asked for any special energy rebates. I was able to get a hefty rebate from the manufacturer and the local electricity company.


How do you sale on your utilities? Any good tips? I’d love to hear them!

7:45 pm pdt

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Hi! I'm Heather Reese, founder of the No Excuse Budget

I realize the importance of having control of your finances and this website and blog are dedicated to everything personal finance related. Times are changing and everyone needs advise and encouragement to keep on going while working towards your best financial future.

Discover my proven system for:
     ·organizing your bills
     ·paying your bills on time
     ·cutting back on expenses
     ·building wealth

Check back daily for my new blog posts...and welcome to the No Excuse Budget way of life!

Quick Links

Budget System Overview- Need a budget? Living above your means? Do you need to spend less money and/or make more money or just get control of your spending? Learn how the No Excuse Budget wil lhelp you.

Step One, Gather Supplies- Learn what you need to put together the perfect budget. From paper to pen and more see what it takes to create your personalized monthly budget and debt reduction plan.

Step Two, Start Budgeting-  Time to fill out the free budget worksheets. You'll compiling your bills and income so you'll have a clear picture of where you are at financial and plan for where you want to be.

Step Three, Evaluate and Plan- Get ready to plan your future. Take control and make a budget that works for you! Using the No Excuse Budget Free Debt Reduction Worksheets will enable you to set a plan of attack on your debt.

Step Four, Prepare and Organize- You've created a budget, but what about everything else that comes with budgeting? Learn to pay your bills on time with the doube check method and how to protect your identiy in one easy step.

Step Five, Fine Tune that Budget-  Search through your budget for ways to cut back on your spending. Learn if it's a need or a want. Articles to spend less and save more.

Free Budget Worksheets- download the No Excuse Budget free budget worksheets.

Free Debt Reduction Worksheets -download the No Excuse Budget free debt reduction worksheets.

Save Money On Food- Save on your grocery bill, save money when eating out, learn to use coupons to cut your food spending in half, save by ordering food online.

Online Savings- Learn to use the internet to save you money. Don't go to the mall without reading about onine savings first.

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