Penny pinching

In an effort to save money, I've discovered some ways to stave off the spending demons.

Over the last six weeks, I've stuck to my guns (for the most part), and held back on wasting away my entire paycheck on frivolous crap. After about week four I started to get antsy, and thought my impulses might get the best of me. But I'm slowing finding ways to keep a balance between living like a homeless person and Kim Kardashian.

(Blatant props to Gregor for the majority of these tricks. If not for suggesting, at least for guiding me to come up with these frugal ideas.)

1. Look for sales.
Simple enough, right?
When I go grocery shopping, I now make it a point to write lists before I go. I don't always get a chance to check out the ads before heading to the store, but I'll still make sure to include the necessities (eggs, milk, bananas, etc.). Everyone needs fruits and veggies, but why not stock up on the cheaper stuff? 5-lb. bag of grapefruit one week, Golden Delicious apples the next. Variety is the spice of life anyway. Along with that, I make sure to cover the other basic food groups. Protein? cottage cheese and peaches, or tuna and crackers. Dairy? Yogurt or string cheese. But it's whatever I find on sale.

2. Take lunch to work.
If you eat fast food 3x a week, that can add up to $15 by Friday. I could buy a loaf of bread, sammich meat, lettuce, string cheese and a bag of apples for less than that, and it'll feed me the whole week. Plus, it's better for you.

3. Use what you've got.
I have a ton of shit in my pantry. I mean, some of that stuff expired in June 2008 (Hello, sugar-free caramel ice cream topping. WTF was I thinking). Why not make some crazy concoctions. I have tons of spices, flour, mac n' cheese, granola bars, oatmeal. Everything. Instead of buying more crap, why not eat what I've got? With all these ingredients, I'm also starting to expand my cooking horizons. For instance, I used up the week-old mushrooms in my fridge by adding olive oil, balsamic, garlic powder and thyme, then boiled some noodles. Voila.
On the list this week? Chad's PB cookies. I have every single ingredient in my cupboard already.

4. Shop consciously.
I've taken a few trips to clothing stores since Jan. 1; but I've done better than before. Instead of buying something just because it's on sale, I'll think "Do I really need that?" and "How many times will I wear it?" I'm a jeans and T-shirt kinda gal, so I'll generally go for the basics anyway. Places like TJMaxx (think the Big Lots equivalent to Wal-Mart) offer everything from suits and ties for dudes, to Express jeans and name-brand purses for ladies, all liquidated or discontinued from top-of-the-line stores. For at least half the price. Also check out Goodwill or other thrift stores. Besides some clothing, I've found crock pots and dishes, plus decorations for my apartment.
Also, starting in the next couple of months, people are going to start spring cleaning. You know what that means? Rummage SALES.

5. Take what you can fo' free.
Here's one example from today. I keep a filing cabinet full of important papers (insurance, bank statements, etc.) that needed expanding. I bought a new cabinet this weekend -- but why buy more folders and tags? Instead, I headed for my office's paper graveyard. Tons of magazines throw out and reorganize their info all the time, so they're constantly getting rid of hanging folders, manila folders, binders, etc. Now I'm just giving them a new home.

Also, I've been looking to replace my refreezable ice packets for my lunch since mine started leaking. On my way back to my cube, I came across a table full of free stuff. People were trying to get rid of vases and Tupperware containers. There I found some still-packaged Rubbermaid Blue-Ice re-freezable packets. Hot damn!


6. Turn off the lights.
This'll be a tough one when the time comes. Right now, I don't pay for heat or electricity. Or water. Hell, the only bill I have besides my chintzy cable is rent. Once I move out of my lavish apartment, I'll have to start being more conscientious about my consumption. For now though, I'll let that be my one luxury.

That's what I've learned so far. Got any other tips?

Dealing with Uncle Sam

I'm sure almost everyone has received their necessary tax forms over the last month. That includes W-2s, 1099-DIVs, 1099-INTs and 1098 something-or-others for mortgages. Not to mention student loan forms for debt, or forms if you contribute to your HSA, 401k and IRAs after Jan. 1.

Now you have until April 15 to gather all those forms, fill out the information, and file your taxes. Ugh.

I already filed my taxes; which was motivated by the fact that I knew I was getting a return for both state and federal. This year, I only had two forms: one W-2 and one 1099-DIV. That's IT. Total time I'll never get back: 45 minutes. But I'm DONE!

I have three reasons why I can appreciate my situation as an adult come tax season:

#1.) My mom taught me how to file my taxes.
Since I started getting W-2s, she's been there to help me figure out how to fill out the proper paperwork for state and federal taxes. Up until about three years ago, she filed everything by hand. (It's a bitch, don't do it.) I opted to file my taxes online. She insisted I read every page and all the directions, to make sure I didn't skip anything.

#2.) I've been filing my own taxes since I was 18 years old.
I've been employed since the age of 14, but because I didn't work that much for most of middle school and high school, the government kept their hands off most of my money. You're only required to file a tax return if you make more than a certain amount. Even if you don't meet that requirement, you can still opt to file if you think you'll get money back. Or, if you want to pay because they didn't take out enough. But that'd be damn foolish.

#3.) I worked at a bank for more than two years.
A call center to be more exact, and it was bitch come tax season. From mid-January until the end of April, people would call about forms they received, how much interest they earned, and how to file taxes. We couldn't help with the last one -- you're supposed to talk to a tax advisor. But, we had hours of training on what forms go with what accounts, and when people receive certain tax forms for savings accounts, HSAs, 401Ks, IRAs and CDs, or some loans.

Still have to file? Here are a few tips:

-Make sure you have ALL of the proper forms and information before getting started. That means W-2s, even from PT jobs (Did you work for a lawn service for two months last summer? Get paid for some after-school program with kids?); interest earned on stock dividends and savings accounts (But only if it's more than 10.00); and student loan forms. You'll need your SSN, and bank account and routing number too, if you opt for direct deposit.

-If you're getting a refund, go with direct deposit. You'll get your money in about 7-10 days, instead of 4-6 weeks.

-Most people don't have to worry about itemizing deductions on your return. That'll usually happen if you've collected a lot of unemployment over the year, own a house or make a shit-ton of money. But either way, many filing programs can help you with both.

-You have to file your federal taxes before your state.

-The most important: File online -- FOR FREE.
No matter what they say, most people don't have to pay to have your taxes done. If you made less than $56,000 in 2007, even better.
Go to irs.gov and answer some questions about your financial status. The site then automatically redirects you to one of many free tax filing service sites most suitable for you. I've been using H&R Block for the last three years.

-Do NOT pay an additional charge on the federal site you use, to file your state taxes. You can pay $30 for convenience, or spend another 20 minutes filing on a separate site. Just google your state and "free file" or "e-z file". Wisconsinites can go to www.revenue.wi.gov.

Dropping the ball

At the beginning of every January, my biggest concern is usually how massive my hangover headache will be, and how much Tylenol I'll actually be consuming to ring in the new year. I have slight justification, because my birthday is January 1 -- but as I get older, I realize that celebrating by mixing the trifecta of alcohols for one night is not only a terrible idea, but leaves me nothing else to look forward to. I got my practice in this weekend anyway. (Thanks MrB!)

Without further adieu, I've made a few resolutions for 2009:

Read books. Easy enough, right? Maybe... Ever since signing up for not one -- not two -- but five magazine subscriptions, I've had little to no time to catch up on what I really enjoy: Books. I've decided not to renew my NY Review of Books and New Yorker magazines, opting to spend my free time on the dozens of books I bought but haven't picked up in the last year. My goal? Finish at least one book a month, on top of my additional reading. (WI Natural Resources, Lapham's Quarterly and Time magazines.)

Participate in a marathon. Initially, I had decided to run a marathon, but because I pulled my quad back in October, I sometimes have trouble running. Even if I can't run the day of the race, I can still prepare myself for a large feat of athleticism with proper training. By training for something this big, I'll also be able to tailor my diet and work on cross-training with different equipment, including weight lifting, to stay healthy all around.

Visit another country. I left this a little broad, but my main goal is to visit Europe before the end of 2010. Now, I might leave the U.S. this coming February by taking a short cruise to the Bahamas when I go on vacation to Florida. (Apparently, you need a passport; which I have and haven't been able to use.) Otherwise, maybe India at the end of 2009, when my cousin gets married. Regardless of where I go, I want OUT.

Control my finances. Remember in college when you decided applying for a credit card would help solve all your money problems, because you could just pay it back later, when you had a real job? IT'S A LIE.

I've been plagued with controlling my spending since I became an adult. Now, it's time to budget. Mi madre graciously offered to help me, instead of paying credit card companies hundreds of dollars in finance charges, I'll make payments to her each month.

I also need to start budgeting. That means I can't just buy a new outfit at Express, or go out to eat for lunch three times in one week. I've got a set payment for my debt, as well as my car loan -- but how do I keep track of this beast? www.mint.com!

Mint.com is a free personal finance website to help track every aspect of my debt and income. I signed up a few months ago, only to watch my debt fluctuate while my stocks and retirement funds dwindled. AYE YAYE YAYE.

This weekend I took a closer look at how the site really works. After organizing and categorizing all my spending for the month of December, I could take a look at where most of my money was really going. I can track how much I'll set aside each month for my budget, including car payments, gas, groceries, other bills and extras.

I can set limits on how much I'll allow myself in each category, and get an email when I go over budget.

It's easy to set up, and I can monitor all of my accounts on one site, including my 401K, IRAs, mutual funds, credit cards, car loans, checking and savings accounts; instead of logging into each site separately.

Here's to looking up, and saving some this coming year.