Tag Archives: Saving Money

10 Money Saving Tips that Will Reduce Your Food Waste

It is estimated that in this country we throw away anywhere from 20% – 40% of our food supply.  Food is one of the largest components of solid waste in our landfills. The good news is that with a few simple changes to the way we do things and think about food, we can significantly reduce the amount of food waste in our own homes.

    1. First In, First Out – Make sure that when you bring your groceries home and put them away that you are rotating your stock.  Put the new items in the back. If you put your newest items at the front of the pantry, you run the risk of the food in the back expiring before you can use it.
    2. Eat leftovers – If you’re going to make it, you’re going to eat it.  If you don’t like leftovers then adjust your recipes so that you are making just enough for the meals.  However, learn which leftovers you do like and then make enough for a second meal or to bring for lunch the next day.  Not only is this a money saver, but it’s also a time saver.
    3. Take Inventory – Before you go to the store, make sure you know what you’ve got.  I’ve been guilty of picking up a gallon of milk because I couldn’t remember how much I had left.  We don’t use a whole lot of milk in my house so if I already have a gallon one of them will surely go to waste.
    4. Store Properly – My grocery store does some amazing meat markdowns when they are getting close to the sell by date.  I get my meats for next to nothing by shopping the “manager specials”.  The key to it being a great deal though is proper storage.  Once I get home, I portion the meat out into meals and use a Food Saver to ensure that my food is properly sealed and portioned. Probably one of the biggest areas for waste is freezer burned food.
    5. Use it All – You can eat the skin on foods like potatoes and cucumbers. They are delicious and nutrient rich.
    6. Find New Uses – Maybe your bananas got a little brown. That would make an awesome banana bread.  Maybe your fruit is a little soft.  That would make a great smoothie.  Think outside the box before you toss something out.
    7. Start Canning – Did you go the Simply Frugal route and have a garden this year?  Did you end up with more fruit and vegetables than you can possible eat or share?  Can those goodies and have a taste of the garden all winter long.
    8. Donate – Periodically go through your pantry and find the items that you won’t use or are nearing their expiration date.  Food Pantries are almost always looking for donations, especially this time of year.  People always think to donate to the Food Pantry around the holidays but people are hungry all year round.
    9. Know when an Expiration Date Isn’t Really an Expiration Date – Most foods have a sell by date.  That is rarely the date that the food is no longer safe to eat.  Foods like dry pasta and canned goods are actually good for a couple years after the sell by date when stored properly.
    10. Be Conscious of What You Throw Out – Before you throw something out, write it down. At the end of the month add up what you’ve thrown out and figure out why it went to waste.  Knowledge is power. When you figure out why you threw something out you can avoid that situation in the future.

These are some very simple ways that you can reduce the food waste in your own home.  I’m sure you can come up with more if you take a few minutes and think about it.

Now that you’ve made an effort to reduce the food waste in your home, you are one step closer to Being Simply Frugal!

One Simple Way to Build Credit and Save Money

One Simple Way to Build Credit and Save Money

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Part of living a Simply Frugal Life is keeping debt to a minimum.  Credit can be a double edged sword.  It’s important to have good credit when it’s time to buy a car or house. It’s hard to establish credit without establishing debt. Here is a great way to either establish credit or rebuild damaged credit without adding debt.

Self Lender has a program  called a “Credit Builder Loan” and here are the details:

A credit builder loan is a small loan that’s held in a CD account for 12 months. The account is FDIC insured, earns 0.10% APY† interest and is deposited  in your name during the term.

The credit builder loan is designed to help you save money and establish a credit history in a safe, responsible way.

The credit builder loan offered inside Self Lender works like this:

  • Self Lender’s banking partner lends you money that is deposited in an FDIC insured, certificate of deposit bank account (“CD account”) for 12 months.
  • Next, you make 12 equal payments ($97.00)  over the course of your term to repay the credit builder loan. Payment history is reported to the credit bureaus each month.
  • At the end of the term, you’ve paid off your loan and your CD has matured (and earned interest!). Plus, you’ve demonstrated months of payment history to the credit bureaus.

There is a $12.00 Administrative Fee to set up the loan and you are paying interest (10.57%). It’s a low cost option for limited or damaged credit.

At the end of the loan term, you have $1100 plus interest.  Not only are you building your credit, but you have just established an emergency fund!

Are you ready to get started? Sign up  HERE !

Now you’re one step closer to living the Simple Life you desire.

 

 

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5 Simple Ways to Save for an Emergency Fund

5 Simple Ways to Save for an Emergency Fund

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There’s nothing worse than having a financial emergency come up and not knowing how you’re going to pay for it. More often then not, you’ll  end up paying for your emergency using a credit card or taking out a loan. These options always cost more in the long run due to the interest that you’ll be paying. Part of living a frugal lifestyle is eliminating waste and unnecessary expenses. That interest would definitely qualify as an unnecessary expense that can be eliminated by some planning ahead.

Throw your change in a jar at the end of the day

Most of us come home at the end of the day with some loose change in our pockets. Set up a jar that is in a convenient place and simply deposit your change in the jar when you get home. You’ll be shocked how quickly it adds up. Don’t be surprised if you have a couple hundred dollars or more at the end of a year. Continue reading 5 Simple Ways to Save for an Emergency Fund