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It’s Not Too Early to Make Your Holiday Spending Plan

October 16, 2023 By MelissaB Leave a Comment

Did you overspend last holiday season? When January rolled around, did you face credit card debt with no real plan to pay it off? If so, don’t despair—you’re not alone. My husband and I had one holiday season like that, and we quickly learned to make a holiday spending plan that we stuck to.

If you want to rein in your spending, now is the time to make that plan and talk to your loved ones. Although the conversation might be awkward, you’ll feel much better in January 2024 when you’re not facing new debt from the holidays.

How to Make Your Holiday Spending Plan

Christmas is about ten weeks away, so don’t waste time implementing a plan.

Decide How Much You Have to Spend

The first step is deciding how much you have to spend on gifts. If you only have 100 dollars to spend on gifts this year, that’s all you have, and you’ll need to plan how to maximize that money or make more money before Christmas.

Once you have your holiday spending plan, you can find creative ways to stretch those dollars.

Make Some Gifts

If money is tight, plan to make some gifts. If you’d like to give a gift to your mail person and your child’s teacher, but you don’t have cash, consider making something like a yummy dessert or a canning jar filled with the ingredients for bean soup, cookies, or brownies.

Make a Plan for Extended Family

Likewise, if your extended family typically exchanges gifts, now is the time to talk to them about that tradition. Some families decide not to give gifts to the adults, but if you still want a gift exchange, consider drawing names and putting a price limit on the presents.

I come from a large extended family (I have over 30 cousins on my mom’s side), so we would draw names every holiday. Each person was responsible for only one gift, and the price limit was 10 dollars. Talk with your family about a cap on the gifts at an amount everyone in the family is comfortable with.

Have a Talk with Your Immediate Family about Fewer Gifts

Once you determine how to handle gifts for the outsiders in your life and your extended family, it’s time to look at your immediate family. If your kids are older, reducing their gifts may be difficult. Instead, you may need to tell them that you must cut back this year and why.

If the kids are still young, this is the perfect time to start a tradition of only giving a few gifts. Many families give four gifts—something to wear, something to read, something you need, and something you want. I haven’t gone that minimalistic, but over the years, we have gradually reduced the number of presents the kids receive.

If you don’t want to cut down on the number of gifts your kids receive, remember, there’s no shame in buying secondhand gifts. You can often find items in a secondhand store that haven’t been opened yet, but their price is much lower than retail.

Final Thoughts

Each of us would like to give our family members everything they want for the holidays, but that isn’t realistic. Instead, develop a holiday spending plan, then make a Christmas buying plan based on your budget. Although you might give fewer gifts, you’ll be happy to be in the black in January rather than facing credit card bills.

What Christmas Expectations Are You Setting for Your Children?

How I Plan to Have a Low-Cost Christmas

Make Improving Your Finances Your Part-Time Job

October 15, 2023 By MelissaB Leave a Comment

Imagine you give all the money you make in a month to an accountant and ask him to manage the money for you. However, at the end of the month, he can’t tell you where the money went, just that it’s gone. You’d likely be highly upset and fire the accountant. Yet, that’s how millions of people handle their money. You can’t fire yourself, but you can educate yourself and make improving your finances your part-time job.

Are You Like Most Americans?

When is the last time you took a vested interest in your own finances? Do you make a budget every month? Do you track how much you spend each month and on what? If you don’t, you’re not alone. In fact, approximately 60% of Americans don’t have a monthly budget (Business Insider).

How much time have you spent reading personal finance books and articles in the last year? Learning about investing? If you’re like the average American, the answer is not much.

Instead, many of us spend time doing activities that really don’t help us much in the future—scrolling through Facebook and Instagram, watching our favorite tv show, having a Netflix binge, talking on the phone or texting.

Make Improving Your Finances Your Part-Time Job

What if you used just a fraction of that time to improve your finances? How different would your financial situation be a year from now? Five years from now? Ten years?

If you’re finances aren’t in the shape you’d like, why not challenge yourself to make improving your finances your part-time job?

What Is the Weekly Time Commitment?

Don’t worry, improving your finances isn’t going to take a lot of time. I’m just asking you to set aside two to four hours a week to improve your finances. You won’t be sorry.

Make Improving Your Finances Your Part-Time Job — Photo by Kelly Sikkema on Unsplash

What can you do in that amount of time? Plenty.

Set up a budget
Track your spending
Pay your bills
Call your credit card company to get your interest rates reduced
Investigate refinancing your student loans, and if doing so will save you interest, actually refinance them
Read a personal finance book
Call your internet and cable provider to get your monthly bill reduced
Investigate house and vehicle insurance costs and change companies if you’ll save money and get the same coverage
Get an assessment on your home to potentially lower your property tax bill
Learn about investing
Take free online personal finance classes
Invest some of your money
Sell some of your unused items on Craigslist or Facebook
Listen to personal finance podcast
Start building passive income (stocks are good for this)

This is only a small list of things you can do when you start your part-time job of managing your money, yet you can reap serious financial rewards.

Tools to Use

If you’re new to taking an educated, methodical approach to improving your finances, there are many places to go to learn more. There are also many tools available.

You Need a Budget (YNAB)

For the last four years, I’ve been budgeting using You Need a Budget (YNAB). I’ll admit, there’s a bit of a learning curve to using this software, but there are many free online trainings you can watch that cover every aspect of how to use the software. There’s also an active Facebook group, YNAB (You Need a Budget) Fans, where you can find quick answers to many of the questions you might have about the software.

If you’re interested in trying YNAB, you can sign up for a 34-day trial for free.

Morningstar Free Investing Classes

Don’t know the first thing about investing? Don’t worry. That’s how everyone starts. When you make improving your finances your part-time job, investing is an important concept to master. Morningstar offers a number of free classes that cover a wide-range of topics:

Stocks,
Funds,
Portfolios,
Bonds,
ETFs,
Retirement, and
Planning

To access these free courses, simply sign up for a free Morningstar account.

The Library

Another excellent, free place to learn more about money management and investments is the library. You can find so many books there that will teach you about improving your finances! Some of my favorite money management books include:

I Will Teach You to Be Rich by Ramit Sethi,

The Money Book for the Young, Fabulous and Broke by Suze Orman,

How to Make Your Money Last by Jane Bryant Quinn, and

Is Your Child a Money Master or Money Monster by Sunny Lee (excellent book for teaching your children in a natural way about money management)

All of these are available on Amazon, and if you get a copy of the book, the site will get a small commission that will help keep the lights on.

YouTube

You can find many money management and investment videos on YouTube. Just be sure to first check the credentials of the person offering advice. Anyone can put up a YouTube video.

I sometimes enjoy watching Dave Ramsey videos (though not when he goes on tangents).

If you’re new to budgeting, there are people on YouTube who share their budgets every month. One person that many people find inspiring is The Budget Mom. She shares her budget each month and also does a recap at the end of the month.

Make It Fun

If the idea of spending a few hours a week on personal finance makes your eyes glaze over with boredom, try to make the time fun. Set aside a certain time, maybe Saturday morning, or a few minutes every day. Get comfy and make your favorite drink and settle in to work.

Investing Time Now Means You’ll Save Time Later

Remember, as you increase your financial education, you won’t need to spend as much time on your finances. Maybe initially you’ll spend four hours a week or 16 hours a month, but a year or two down the line, when your finances are better and you know more, you may only need to spend two hours a week or eight hours a month.

As your financial situation improves, you’ll likely have more incentive to keep spending a little time each week working on your finances.

Try it. What do you have to lose except a better financial future?

How much time do you spend every week working on your finances and growing your financial knowledge?

Recharging the Industry: The Growing Significance of Car Battery Chargers

September 29, 2023 By Susan Paige Leave a Comment

Hey there, fellow car enthusiast! If you’ve ever experienced that heart-sinking moment when your car won’t start because of a dead battery, you know the importance of a reliable battery charger. In this guide, we’re going to dive deep into the world of battery chargers and explore their growing significance in today’s automotive landscape. So, grab a cup of coffee, settle in, and let’s get revved up about keeping those wheels turning!

The Shocking Aco Anecdote

Before we delve into the nitty-gritty of battery chargers, let’s start with a quirky anecdote involving the word “aco.” Picture this: You’re on a cross-country road trip, miles away from civilization. As you enjoy the scenic beauty, you suddenly hear a loud “aco!” Startled, you pull over to investigate, only to find that your car battery has given up on you. In this dire moment, you wish you had a reliable battery charger to save the day.

The Basics: What Is a Battery Charger?

Alright, let’s start with the basics. A battery charger is your trusty sidekick when it comes to keeping your car’s battery in top shape. It’s a device that replenishes the energy in your battery by supplying it with electrical charge. But not all battery chargers are created equal. Some charge quickly, while others employ a gentler approach known as a trickle charger.

Why YOU Need a Battery Charger

Now, let’s get personal. Why should YOU care about having a battery charger? Well, for starters, it can save you from those dreaded moments of being stranded with a lifeless car. Imagine you’re rushing to an important meeting, and your car refuses to start. A battery charger can swoop in like a superhero, giving your car the jolt it needs to get you back on the road.

Additionally, a battery charger is a smart investment for your wallet. It can extend the life of your battery, helping you avoid the costly expense of frequent battery replacements. So, whether you’re a daily commuter or an occasional road tripper, a battery charger is a must-have tool in your automotive arsenal.

The Versatility of Trickle Chargers

Now, let’s talk about trickle chargers. These little champs are like the gentle caregivers of your car’s battery. Unlike regular chargers that deliver a rapid charge, trickle chargers provide a slow and steady stream of power. This method is perfect for long-term battery maintenance.

Here’s the deal: If your car tends to sit idle for extended periods – like a vintage beauty in your garage or your RV during the offseason – a car battery trickle charger is your best friend. It prevents your battery from losing its charge and helps it stay in tip-top condition, ready for action when you need it.

The Scorecards of Reliability

Picture this: You’re in a rush, and you grab the first battery charger you see on the shelf. You hook it up to your car’s battery, hoping for a quick fix. But as you wait impatiently, you realize it’s taking forever to charge. Frustrating, right?

This is where the importance of reliability comes into play. When choosing a battery charger, you want one that earns top marks on the reliability scorecard. You don’t want to be stuck waiting for hours, twiddling your thumbs while your charger works its magic.

Choosing the Right Battery Charger for YOU

So, how do you select the perfect battery charger? It’s all about finding the one that suits YOUR needs. Here are a few factors to consider:

Battery Type: Check the type of battery your vehicle uses. Some chargers are designed specifically for lead-acid batteries, while others work with different battery chemistries.

Amperage: The amperage rating determines how quickly the charger can replenish your battery. Higher amperage means faster charging, but keep in mind that a trickle charger has a lower amperage for slow and steady maintenance.

Safety Features: Look for built-in safety features like overcharge protection and reverse polarity protection. These features ensure your battery and charger stay safe during the charging process.

Portability: If you’re on the go frequently, consider a portable battery charger that you can easily take with you.

Price: Of course, your budget plays a role. Battery chargers come in a range of prices, so find one that fits your wallet without compromising on quality.

The Focuses: Battery Health and Longevity

Now, let’s shift our focus to the long-term benefits of using a battery charger. Think of your car’s battery as its heart. Just like you’d prioritize your heart health, your car’s battery health should also be a top concern.

Regular use of a battery charger, especially a trickle charger, helps maintain your battery’s longevity. It prevents sulfation, a common issue where lead sulfate crystals build up on the battery plates over time. These crystals can reduce your battery’s capacity and lifespan. A trickle charger keeps these nasty invaders at bay, ensuring your battery stays strong.

Aco Saves the Day Again!

Remember our quirky “aco” anecdote? Well, picture this scenario: You’re on another road trip, and you’ve diligently used a trickle charger to keep your battery in top form. As you’re driving through a remote mountain pass, you encounter a sudden snowstorm. Visibility is near zero, and your headlights are your lifeline.

In this crucial moment, your well-maintained battery powers those headlights, guiding you safely through the treacherous terrain. You can thank your trusty trickle charger for this hero moment.

The Future of Battery Chargers

As technology advances, battery chargers are evolving too. The future promises smarter and more efficient chargers that can communicate with your car’s electronics to provide the perfect charge. Imagine a charger that knows exactly how much juice your battery needs and delivers it with pinpoint precision. It’s like having a personal battery concierge!

There you have it, a comprehensive guide to the growing significance of car battery chargers. Whether it’s the lifesaving power of aco, the reliability scorecards, or the focused approach of trickle chargers, these devices are more than just accessories – they’re your ticket to hassle-free driving and long-lasting battery health. So, don’t wait for that fateful dead battery moment; invest in a quality battery charger and keep the wheels turning smoothly. Your future self will thank you for it. Happy driving!