The Frugal Files: The Real Scary Stuff!! Happy Halloween!!

Happy Halloween frugal folks!!

Today is one of those fun holidays where people celebrate with parties and candy, as well as take part in festive outlets such as parties, dressing up in costumes and scaring little kids. I’m sure you’ve been blasted with ideas and images on how to make this year’s Halloween event more creative, frugal or not. During this time, most people find ghosts, goblins and witches scary, but today we’re going to talk about what scares adults or should scare them…into taking care of their financial business.

First, let’s talk about GHOSTS, also known as DEBT!! Debt is something that people have that often lurks around because we get caught up in life and forget about it. Of course, we know what our immediate debt is: house and car notes, credit cards, school loans. However, do you pull your credit report yearly to make sure you didn’t leave something in the past? If you don’t address it, like a ghost, it will haunt you and show up and scare you when you want to do something with your life. When you go to buy a house, it’s there. When you want to be considered for a business loan, there it is.

So, how do you eliminate ghosts? Find their source and close the case, making it comfortable enough to move on to the next life, which for us is called PAID OFF. Pay your old debts off and send a letter to the credit bureaus with the proof that you have done so. Then move on to your next phase of life, debt free!!

Second, let’s address some GHOULS and GOBLINS, which are sometimes little and annoying but have the potential to consume us or our money if we don’t address them right now. It’s getting cold now and Winter is not far away. It’s time to get prepared for it. My heart goes out to all those affected by Hurricane Sandy. If you can, join me in sending aid to those in need. I’ll be looking for items to send them.

Start winterizing your home. Put in your storm windows, clean out your gutters, rake up the leaves and trim back the trees to minimize damage from the snow. Get your salt, shovels and snow blowers ready to take care of your yard and help out a neighbor too. Put plastic over the windows to keep out air that might seep in older windows. Stock up on food, especially those that will warm you up: soups, stews and cocoa. Plan for inside activities, so no one is bored enough to want to go out for outings. It will be safer to be inside on some days.

Get your car ready too. Its care will make the difference when going through the winter months. Get your tune up, new tires and make sure your heat is in proper working condition. Keep an emergency kit in your car that includes flares, blankets, a first aid kit and some non-perishable food and water. Carry around your pet’s food or sand to help with traction after it’s snowed. That will help you move through the snow. At all times, be cautious and careful while driving. Pay attention to the road and keep your phone put away.

Last, let’s talk WITCHES and ZOMBIES, which for the sake of this conversation is about insurance and wills/trusts. Both are topics people shy away from addressing because no one really wants to talk about death and illness. Unfortunately, that is part of life and people do get sick and pass away. The key is to celebrate life while we’re here and to let our loved ones continue to celebrate even when we’re gone. They can’t do that if they are worrying about how to bury loved ones; how to pay for bills left by loved ones or how to divide up an estate because that loved one didn’t take time to prepare before leaving this earth. No one wants the witch, called probate court, to decide where your family’s property and belongings will go.

Talk candidly to your family about preparing for the future. Make sure you have ample coverage in case of an emergency. Contact a professional and put your requests in writing. It’s the only way to secure your future and the future of those after you. Let’s take care of our business and cast out those financial demons that threaten us and our families!! This is my candy for you. Trick or Treat!! Happy Halloween!!

Frugalicious Diva

Follow Me on Twitter at @FrugaliciousDva

The Frugal Files: Daddy's Little Frugal Girls: Pay What You Owe!!

Memorable Money Words from Daddy

A Musical Tribute to our Fathers on their Day

Whether we want it or not, we always get advice from our parents, especially our mothers. It may be about boys and relationships, life and career or home and money, but it’s always given in love; no matter how it’s given to us. It’s interesting how as we get older, we do indeed get wiser. As we grow, most of us are fortunate enough to receive words of wisdom from those who have “been there, done that” before we did.

If you’re a Daddy’s Girl, like me, then you also got MORE than your fair share of advice from your biggest cheerleader and cupcake: Daddy!! I thank God that I’m still able to get advice from him, as well as anything else, and he would not have it any other way. So, in a tribute to Black Music Month and our fathers on Father’s Day, let’s examine what advice he’s shared (with sprinkles of Motherly advice), through their words or actions, with us through the years. This month is entitled…”Daddy’s Little Frugal Girls.”

I’m partial to girl groups from the 50s/60s (they are my absolute FAVORITE) so that’s whom I’m highlighting in music. It’s because of the legacy of groups like The Shirelles, The Chiffons, The Cookies and The Honey Cone that we continue to see great groups in this lifetime like En Vogue, Brownstone, Xscape and SWV, as well as solo artists like Mary J, Fantasia, and Lauryn Hill. I love music and could go on an on, but the point is, those early groups paved the way, showing class while sharing their gifted harmonies with us.

Daddy (and Mom) said: “Pay What You Owe”

Mama said There’d be Days like This…The Shirelles

I know this song was really about love and relationships, but based on my Mom and Dad’s actions, it was a lesson for me in finances. I didn’t know much about my parents’ financial business until I was grown, so when I learned, I realized my parents had and still have two very different money styles. My Mom was adamant about paying bills and paying them on time. Even if that meant she spent all her money on them and scaled back the rest of the month; the important things were addressed and checked off her list.

I am proud she passed this trait of integrity on to me to pay what I owe. I’m even more elated that I bestowed that gift to my own daughter. Even though there may be some days of financial scarcity, it’s honorable and proper to promptly pay your debts. I took it further because I make it my mission to be and stay debt free.

Even though his style is a little different, Daddy still paid what he owed. As my Deacon Daddy, he truly believes in Romans 13:8, of owing NO man. I always saw that when he did owe, he paid them back swiftly. He never wanted it to be said that he didn’t pay his way or earn his place. In fact, sometimes he even went overheard sharing more than he should, but you’ll never hear anyone call him cheap. That's not his way.

I learned that if you ever have the chance to do for someone else, do it. I think it’s the Pisces in us, but this is exactly how we’re alike, so it’s no doubt he shared that part of his DNA with me. The moral here is to 1) pay your bills, 2) don’t overextend yourself and 3) be generous. Paying what you owe speaks volumes about your character and shows people how much they can trust you. If you can’t pay something, make an arrangement and stick to it. It’s your word that is bond and people have the right to hold you to it.

SUMMER FUN!! 

In addition to Daddy Tips, I’m going to be sharing some summer activities for you and your family!! School is already out for many students, so if you haven’t already signed up, get registered for FREE BOWLING for the kids!! It’s all summer long!!

Until next time, have a great week!!

Frugalicious Diva

Follow me on Twitter at @FrugaliciousDva

The Frugal Files: Springing Ahead in our Budgets

Hey frugal folks!! It's March!!

We've seen snow, but it's almost time to Spring ahead in the time change, so we should get ready for Spring and make a financial change too!! Are you on track with your initial goals for 2012? We're at the end of the first quarter, so if you're off the path, it's a great time to saddle back up to finish this period. It's almost time for the next few goals.

I've been learning about couponing and getting FREE items!! However, I still haven't gotten a grasp on teaching it locally or getting my church's pantry fully stocked. I am creating a specific goal plan and putting it in place this month. See, we all have work to do.

For March, I thought we'd focus on Spring cleaning, so topics will include budgeting, credit reports, paying off debt. Don't worry, I'll still be blogging about couponing on my personal blog at Frugalicious Diva Then, in April, Belle Noir has a surprise in store for you, so stay tuned!!

If you've been following this blog weekly, then you know I've always thrown around the "B" word. You know, BUDGET!! What did you think? LOL Anyway, if you were reading then you know it's not a word to be feared and it's not a word meant to deprive us of what we want out of life. It's an assistant of sorts. It helps to guide us around as we maneuver our money. Sometimes it says we can't have everything at once, but it allows for us to have what we want with just a little creativity, patience and compromise.

I realized I always talked about creating a budget for ourselves, but never really expounded on how to take on such a task. Over the years, I have met with individuals looking to get their money in check. I personalized budget sheets and guided them through the physical and emotional process of using what they have and sticking to their budget. So, let's begin this class. I'll begin by describing the type of budget sheet I personally use. It's easy and I have committed to using it. I've tracked my spending since 2006, so it's safe to say, I know where my money is and where it's going.

The simple rules are write down your goals, everything you earn and everything you spend. My budget sheet is two sided. The first side is the Projected Monthly Budget side and requires a little bit of prep work on your part. It may be a little difficult the first 1-2 months, but it will get easier as you continue, if you're committed. This side is broken up into four boxes:

#1: Expected Income

Here you list what you anticipate earning or receiving for the month. There's a space for your Current Balance, so you'll know the amount with which you're starting off the month. Then there's other spaces for Employment, Business Income (if applicable) and two other "streams" of income. These can be spaces for gifts, another business, sales, etc. The Frugalicious Diva is about wealth, so multiple streams of income is a must!!

#2: Fixed Income

This area is for your Housing and Debt amount you expect to pay this month, including categories such as Rent/Mortgage, Utilities, Phones, Credit Cards, Car Maintenance/Insurance, Layaways and Auto draft savings plans like Mutual or Emergency Funds. Whatever applies to your household that you MUST pay monthly will go here. For those of you who pay tithes at church, this is where that category goes.

#3: Variable Expenses

These are expenses you may or may not have every month, but if you do, the amount vary based on your needs for the items. Here is where you'll place items like Groceries, Dining Out (which should be separated), Clothing, Gas for your Car, Toiletries and Entertainment. In light of our couponing efforts, the amount we spend for groceries/food should decrease since we're getting items for less and cooking more, as we have food at home. There are usually "Other" boxes for extras. In those months you know there are birthdays, you're taking a trip or attending a special function, you can budget your amount here.

#4: Totals

Total Expected Income (#1) - Total Payments (#2 + #3) = Ending Balance

If your ending balance is over $100, then adjust your payments. Perhaps you can save more or, better yet, pay more on one of your debts. My advice is to leave about $50 in the Ending Balance box, just in case of incidentals. If there are none and you stick with your budget, you can carry that amount over to the next month. Again, if there's extra, consider paying off more debt next month.

The back is the Actual Budget; where the rubber meets the road. This is what you ACTUALLY spend and every category from the front is on the back, waiting to be filled in. At the end of the month, tabulate the amounts across and down; the ending numbers should match. The result is your Actual Total Saved/Lost. After evaluating your budget sheet, go back to the Projected side #4 and in the Comments, write how you can improve for next month.

See, it's not bad at all. You can find a slew of budget sheets online, but I would love to share mine with you. if you want a copy of it, feel free to email me at FrugaliciousDiva@yahoo.com. I can also be reached on Facebook: Frugalicious Diva and be sure to connect with me on Twitter at @FrugaliciousDva

Enjoy and Happy Budgeting!!

Frugalicious Diva

The Frugal Files: New Year, New Skin, New Ways!!

Hey there Frugalicious folks!!

Welcome to 2012!! This is a great time of the year because it's a time for complete transformations and rejuvenation. Everyone is excited about a new year starting because it symbolizes a new beginning; a new start for relationships, goals and healing. It's a feel good time that many of us use as a jump start to accomplish things we had not in the past and it gives us the extra confidence to actually get it done.

What I have found in all my years, is the newness sometimes wears off like the shine on something you received for Christmas. Right around March and April, when the season changes, we begin to forget all the goals we were so gung ho about in the beginning. By summer we're back to old ways and relaxing in the sun without a goal in sight. So what can we do to make our goals stick this time? I had to ask myself that question, because we're all guilty.

I've always heard if you do something for 30 days, it becomes a habit. Why is it that bad habits are always hard to break and good ones are hard to begin? It's baffling that we always want things that are not good for us and we see the good things as a deprivation. You know what we need? A paradigm shift. We have to look at our lives as the abundant lives they were created to be. In order for us to live it, we have to live it daily.

So what does that mean? It means if you want wealth, you can't carry around debt. Purpose to set a payoff plan on a regular basis that you can follow. Pay your debt, like you pay your other bills like you would pay your parents bills. You wouldn't want to leave your parents in a bad situation would you? Then think of them the next time you sit down to write your checks. If you learn to sacrifice upfront, you can live well the rest of the ride. You just have to make that first step.

Decide what you really want today financially:
- Pay off debt including credit cards, car and house loans, etc.
- Start or increase an Emergency Fund
- Start or increase a Living Expenses Fund
- Sign up for your 401k/403b (for non-profits)
- Purchase a home
- Open a mutual fund or IRA
- Set up a 529 Plan to save for your children's college fund

Map out a plan to accomplish your goals. Are you willing to make sacrifices? If so, then:
- Decide to cook instead of dine out
- Only entertain at home with what you already have
- Earmark all bonuses and extra money to pay down debt
- Clip coupons and check for sales on needed items
- Participate in clothing and food swaps where give and take is both free
- Tell your children "NO" and then get them on the Budget Train with you

I've read articles arguing to be realistic with goals, otherwise you won't achieve them. I'll challenge that though. How has it helped you to "be realistic" and allow yourself a break? If you're still where you were a year ago, then that reality definitely needs a check. I'm calling for extremes. Purpose to have a certain number of days where you won't spend money. Make it a game and see how many days you can go without spending, then brag about it to family and friends. I certainly do.

You will eventually make it a habit to only spend when you need to. Once you've had a taste of paying less, you'll be addicted to paying less than retail every time. Don't you want more for yourself and your family? Don't you want to get out of your self-inflicted rut? It's time to "be hard" on yourself. I don't mean beat yourself up, I mean toughen yourself up. Have what you really want in the long term, instead of just what you want right now. Set weekly goals and review them on a quarterly basis. Check where you stand and what you want next. When you make this a lifestyle, your momentum won't be lost by mid year; you'll be prepared to evaluate the goals of the first six months and be happy to set your latter six into motion.

Let's make 2012 the best year yet!! One where we truly make our dreams come true and our bank accounts swell!! Eliminate debt and resurrect wealth!!

Frugalicious Diva

The Frugal Files: Easy Ideas, Breezy Christmas

Happy December to you!!

It's definitely that time of year isn't it? It's snowing, the streets are buzzing and the chimneys are smoking. This is one of my favorite time of the year because it promotes so much family and friends time. All during the year we hustle and bustle for our jobs, and outside people, but the holiday period allows us to come back inside and wine and dine the people closest to us.

I love that there are more home cooked meals shared with more than just immediate family; also that the thinking focus is turned toward someone other than ourselves. We reach out and use our hearts. However, for some, it is still a stressful time. One of the reasons I especially like family geared holiday time is because it is a sometimes difficult time for those who have lost loved ones, thus losing traditions we may have once known.

The good news is that new traditions can start anytime. One of the reasons I find that people find holiday time stressful is because they try to uphold an unrealistic image of themselves, their families and their bank accounts. Over the years I would watch the habits of my family members, as well as my own, once I was old enough to take on my own responsibilities. There were years I found it easily and exercised both good judgment and planning. Other years, it was complicated and hard to manage. Finally, I decided to stop stressing myself out about Christmas and didn't put too much focus on it.

I know many of you took advantage of those great Black Friday "sales" and it is my hope that you were able to get all the gifts you wanted to buy and within your budget. While I know that can be realistic for my truly Frugalicious folks, I know that's idealistic for the masses. It is inevitable that we will spend money, but if we're spending less each time; now that's frugalicious! Here are some other ideas to keep from overspending this holiday:

The Trusty Gift Exchange – Throw everyone's name in a hat and pick one. Set a dollar amount and have the monitor write down a few things that you'd like in that price range. You are then only responsible for buying ONE gift; the person you chose. For added fun and frugaliciousness, agree to only buy gifts from the Goodwill, Salvation Army, Savers or whatever second hand store in your area. This can be a fun way to celebrate the season without throwing your wallet in the fireplace. All those stores benefit someone else too, so you're achieving a community service in your purchase. As far as your family goes, everyone will get a gift, in fact, they get a gift they want!!

Talent Time – If you are an artistic person or have a special knack for baking or working with your hands, this is your calling this Christmas. Give out as many heartfelt gift that you can make. Getting specialized gifts, made with your own hands are sure to make any recipient feel special.

Debt-To-Income Plan – In this plan, you realize you have too much debt and not enough income, so you spend nothing. This idea dares you to say NO to the monetary side of Christmas, while saying YES to the promise of paying off debt; a true gift to your family. Your bonus is that you skip the shopping lines, the fighting in traffic and your money goes to a useful place that just might ensure better Christmases in the future!!

Enjoy your week!!

Frugalicious Diva