There are great ways to save money, make money, and pay down debt....and then there are not so good ways to do it. Here are a few of my personal "Do's and Don'ts" of being a financially responsible person.
The Don'ts
Skimp on tips- I'm not saying you need to be tipping 40% to your waitress, but you should be fair with your tips for services that are expecting to be tipped.
Get others to pay for you- You're the one making the decision to cut back and be financially responsible, and that means making sacrifices at times. Don't find sneaky ways to get family or friends to pay for your out-to-eat splurges, sacrificing relationships isn't worth it.
Make exceptions for loved ones- With a child, it is easy for me to say she NEEDS something, and so I NEED to spend money on that item. For example her hair is in her eyes, so she really needs 10 more bows (in addition to the 20 she already has) in different colors to keep her hair out of her eyes. This photo is my new reminder that even though I know Lorelai would love all the millions of toys they have at the store....one of her favorite things to do is pull towels out of the drawer in the kitchen.
Make exceptions for loved ones- With a child, it is easy for me to say she NEEDS something, and so I NEED to spend money on that item. For example her hair is in her eyes, so she really needs 10 more bows (in addition to the 20 she already has) in different colors to keep her hair out of her eyes. This photo is my new reminder that even though I know Lorelai would love all the millions of toys they have at the store....one of her favorite things to do is pull towels out of the drawer in the kitchen.
Let others make you feel bad- We had a lot of people in our lives that picked on us the first time we worked to pay off our student loans. They made fun of our old cars, our lack of willingness to go out to eat, and our ways to find fun things to do at home rather than make money. Sometimes it was hard, but don't let others get you down. One thing I do when I'm feeling pressured and alone in my journey, is listen to Dave Ramsey podcasts to remind myself we aren't alone in trying to pay off our debt and live a life well within our means.
Make unhealthy decisions- There are inexpensive ways to still stay healthy. For example rather than a gym membership, I spent one-month's membership at our work gym to buy a used elliptical for our basement. Eating healthy and spending money on what is important to your health is worth the extra cash, whether you care about organic food, fruits and veggies, etc...find a way to budget for the items that are important to your health.
Complain about your situation- You want friends at the end of your debt pay-off journey right??
Make unhealthy decisions- There are inexpensive ways to still stay healthy. For example rather than a gym membership, I spent one-month's membership at our work gym to buy a used elliptical for our basement. Eating healthy and spending money on what is important to your health is worth the extra cash, whether you care about organic food, fruits and veggies, etc...find a way to budget for the items that are important to your health.
Complain about your situation- You want friends at the end of your debt pay-off journey right??
The Do's
Make sure you get what's owed- This has been a struggle with me and photography over the last 5 years. Whether it is friend or family, I work to make sure expectations are set that I am running a business and my fees are clearly outlined on the website.
Make sure you aren't overpaying- The same goes for discussing overcharges on bills or services. It is fair for you to pay for the products or services you are using.
Make sure you aren't overpaying- The same goes for discussing overcharges on bills or services. It is fair for you to pay for the products or services you are using.
Find deals- If someone or something is running a deal, take advantage of it! Don't be afraid to use coupons!
Share money tips with others- When we find a good deal or have a suggestion for saving money...we shout it out! Because we love to share great money-saving tips with others.
Work hard- We believe working hard has been the backbone of our ability to pay down debt. Even if that means I'm a lawyer working at the outlet malls on the weekends...picking up an extra job is a great way to make extra cash.
Volunteer Your Time To Important Causes- Don't let others tell you what cause is important to you, but do find ways to give something other than money to causes that feel important to you. It will make you feel good, keep you busy (so you can't spend money) and the best part is you are helping others.
Spend time with family- You know what a great cheap thing to do is together? Play at a park, go on a walk, have family movie night at home, find free events in your city to attend (Omaha is awesome about having free days at our museums and each night in the summer there is always something going on for free outdoors). Being on a budget doesn't mean you can't go out and do things!
Volunteer Your Time To Important Causes- Don't let others tell you what cause is important to you, but do find ways to give something other than money to causes that feel important to you. It will make you feel good, keep you busy (so you can't spend money) and the best part is you are helping others.
Spend time with family- You know what a great cheap thing to do is together? Play at a park, go on a walk, have family movie night at home, find free events in your city to attend (Omaha is awesome about having free days at our museums and each night in the summer there is always something going on for free outdoors). Being on a budget doesn't mean you can't go out and do things!
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