by Angela Hinkle | Sep 7, 2016
The month of August has been a financially painful time for me. I blame this on the fact that my only child has just begun her first year at college. Lots (and I mean a whole lot) of spending happened in preparation for this auspicious endeavor.
- Ouch – I began to question if I was spending more than I was making. (This was brought on by reading Building a Spending Plan: All Six Steps, a UF/IFAS EDIS publication.) Actually a very helpful financial read. Check it out: http://edis.ifas.ufl.edu/pdffiles/HE/HE82700.pdf
- Ouch – My credit card bills in the last few months have been quite hefty.
- OUCH – The college bills for housing and tuition came due.
What to do to help alleviate some of the pain caused by this financial stress? I remember reading about “no-spend” months. People often pick February because it has the fewest number of days. But I feel the need for immediate action – and so September it is.
A no-spend month means you don’t spend money on anything except the absolute necessities. I have to pay the mortgage, the car payment, utilities, and I have to get may nails done (yes, that is, in fact, a necessity for me). But no buying clothes or shoes, going out to eat, going to the movies, buying gum or an emergency caffeinated drink. Since there is no child in my house now, I think I may actually be able to do this.
Researchers say if we tell others about our goal, we are more likely to work hard to achieve it. So I told the participants in a health class I was teaching about this goal of mine. One very sweet, gentle, older woman said, “Honey, you know you can’t do that.” My somewhat deflated response was, “Why?” Her kind answer – “You know you’re going to send that child care packages.” Right she was.
However, undeterred, quite determined actually, I have found ways to plan around such obstacles. I sent a care package to the child at the end of August and will send the next one at the beginning of October. I will eat out of the fully stocked freezer and pantry to avoid trips to the store. I will start September with an already full tank of gas. I will watch TV at home. I will do this!
Once October rolls around, check back in and I’ll let you know how I did. Wish me luck!
by Dorothy C. Lee | Jul 30, 2016
Do you consider buying groceries a real grind? A necessary evil? Well, it may never turn into a fun adventure for you, but there are some things you can do to make it easier on you and your budget.
Grocery shopping actually begins at home:
Keep a note pad handy in the kitchen to make a list; when staple items are getting low, add them to your list so you won’t forget to replenish them. Then let your fingers do the walking through the grocery store ads to see which stores have the best buys on what you need.- You may want to plan menus around advertised specials and seasonal foods. It helps to have menus planned for the week so you can be sure to have all the necessary ingredients on hand.
- If you plan to use paper coupons, clip them to the list or use an electronic app. It is helpful to have the list organized according to the layout of the store to avoid backtracking for missed items.
- When shopping, buy non-perishables first and save refrigerated and frozen items for last. Make the grocery store your last stop if you are doing other errands. Once home, frozen and refrigerated items should be brought in and stored first.
- Finding the best buy can sometimes be a little tricky. Doing your homework with grocery ads is a good start for comparison shopping. When you get to the store, a little more detective work may be needed. If the store has it, learn to use unit pricing. This is the label on the shelf which gives not only the total price but also the price per unit (ounces, pounds, sheet, etc.). Buying larger sizes often saves money. However, this is not always the case, so use unit pricing or a calculator to check (divide the price by the number of ounces, pounds, etc.). Even if the larger size is cheaper per unit, be sure you can use all of it; if it spoils or can’t be stored, it is not a bargain. Can you divide foods into smaller portions and freeze some for later, or share with a friend?
- Another way to save is to compare national brands with store brands which are usually cheaper. The quality may or may not be the same, so try it once to see if it is acceptable. The nutritional value is usually the same.
- Buy the quality or form you need for the purpose. For example, don’t buy whole canned mushrooms then chop them into pieces if buying a container of already cut mushroom pieces is cheaper.
- Compare fresh, frozen and canned forms, especially for seasonal produce.
- Shop on a full stomach and alone if possible. Hunger and children often lead to impulse buying.
- Buy only the items on your list; anything else should be avoided unless it is a good buy on something you’re sure you will use.
- A larger portion of our “grocery” bill is actually for non-food items such as household cleaners, paper goods, personal grooming products, etc. Comparison shopping is important here too. Are there other types of stores where these products might be cheaper? Can these be purchased cheaper in bulk?
- Convenience foods are a part of today’s lifestyle. While they may save us time, they are usually more expensive than the homemade version. With some convenience foods you are paying for labor; grated cheese, cut up chicken, etc. With others we are paying for having ingredients packaged together; meat helpers, macaroni and cheese or vegetable sauces, etc. Compare time savings with the added cost. Are you paying for ingredients you may already have on the shelf or are easily purchased separately?
If you have questions about budgeting, shopping, menu planning or nutrition, contact your Family and Consumer Science Extension Agent.
For further information contact:
Dorothy C. Lee, C.F.C.S.
UF/IFAS Extension Escambia County
dclee@ufl.edu
by sbouie | May 30, 2016
Tax season is a very difficult time of year for many people. It is a time when good record keeping is vital. The preparation fee is expensive for many families. Some use computer software to avoid fees. However, in doing so they may overlook some tax deductions.
Free tax preparation has always been offered at the Jefferson County Extension office in Monticello, FL. This year the Tallahassee United Way Volunteer Income Tax Assistance (VITA) personnel partnered with the UF/IFAS Jefferson County Extension Office, where they prepared free taxes at the Jefferson County R.J. Bailer Public Library. Appointments were reserved through the library.
A total of 312 Jefferson County residents were helped. The United Way estimated a total of $85,176 were saved in tax preparation fees. Providing these free services to the Jefferson County citizens was a great benefit. For more information, contact UF/IFAS Extension, Jefferson County http://jefferson.ifas.ufl.edu
The UF/IFAS Leon and Madison County Extension Offices also provided VITA for their citizens. They use the traditional Skye Program in collaboration with United Way.
by Judy Corbus | Apr 5, 2016
Spring has sprung and this is the perfect time to clean and freshen your house. But you don’t have to spend a lot of money on cleaning products when you can whip up your own with a few simple, inexpensive ingredients.
The basic ingredient list includes:
- White Vinegar
- Baking soda
- Rubbing alcohol
- Ammonia
- Mild dish detergent
- Washing soda (can be found in the laundry products aisle)
- Borax (also in the laundry section)
Use clean jars or bottles for mixing and storage. Do not use food containers – children can think the contents are something to eat. Also, don’t mix your products in empty cleaning product bottles; residue from the original product may interact with your product, causing a dangerous reaction. Label each product and store out of reach of children. NEVER mix chlorine bleach with ammonia or vinegar – it will create dangerous, toxic fumes!
Here are a few recipes to get you started:
ALL-PURPOSE CLEANER
Mix in a 16 oz. or larger spray bottle:
- 1 cup white vinegar
- 1 cup water
Use on sinks, countertops, lightly soiled range surfaces, floors, toilets, and showers.
WINDOW CLEANER
- 3 tablespoons ammonia
- 1 tablespoon white vinegar
Put in a spray bottle and fill the rest with water.
HOMEMADE LAUNDRY DETERGENT
- 1 bar Ivory® or 1/3 bar Fels Naptha® soap
- 1/2 cup washing soda
- 1/2 cup borax powder
Grate the bar soap into a cooking pot. Add 6 cups of water and heat until the soap melts. Add the washing soda and borax and stir until dissolved. Remove from heat. Pour 4 cups hot water into a clean bucket. Add the soap mixture from the pot and stir. Add 1 gallon plus 6 cups of water and stir. Let the soap sit for about 24 hours and it will gel slightly. Optional: Add 1 ounce essential oil or fragrance oil of your choice.
Use 1/2 cup per load. This is a low-sudsing soap which removes dirt and odor and can be used in high-efficiency machines.
For more product recipes, check out Homemade Household Cleaners and Green Cleaning: Recipes for a Healthy Home.
Sources: Homemade Household Cleaners
Clean It Green!, C. Rogers, UF/IFAS Extension Suwannee County.
by Ginny Hinton | Mar 24, 2016
Oliver Wendell Holmes, Jr. once said, “The greatest thing in the world is not so much where we are, but in which direction we are moving.” That saying holds true when it comes to our health and our finances.
Health and personal financial issues affect millions of Americans. We struggle with epidemic obesity rates, over 79 million Americans have “pre-diabetes”, debt and bankruptcy filings remain high and millions of Americans live on the “financial edge” with less than the recommended three months’ emergency fund set aside for the future. Problems that develop gradually soon become overwhelming.
Many of us, when faced with the need to change, see our problems as unbeatable and “freeze” instead of moving forward. It is true that there is no easy way to lose weight, gain wealth or become debt-free. Even drastic fixes like weight loss surgery or bankruptcy come with huge risks. So, what is the secret?
According to Former HHS Secretary Tommy G.Thompson, small steps are the key! Mr. Thompson stated, “Consumers don’t need to go to extremes – such as joining a gym or taking part in the latest diet plan – to make improvements to their health. But they do need to get active and eat healthier.” No step is too small to get started and you can never be too early or too late. Examples might include walking during your lunch break, cutting out 100 calories a day, saving the change you accumulate each day or tracking your spending for a month. Anything you do daily over a period of time will soon become a habit, or an “automated” behavior. When your healthy behaviors become automated – no matter how small – you’ve just taken a step toward physical and/or financial wellness.
In the end, your health is in your hands. Set realistic goals, take small steps to reach them, learn from the obstacles and believe that you can achieve. And remember, “In the end, the only people who fail are those who do not try.” – David Viscott
Adapted from Small Steps to Health and Wealth, B. O’Neill and K. Ensle, 2013.
by Judy Corbus | Mar 15, 2016
Photo credit: pixabay.com
In spring cleaning mode? If so, now is the perfect time to de-clutter your financial life. Organizing important papers as well as purging unnecessary ones will reduce paper clutter and stress and help you to locate what you need when you need it. Let’s get started!
Store home files as follows:
- Current files – day-to-day records. These include bank account information, bills and receipts, loan agreements, and certain medical information. For a list of suggested categories, check out Financial Recordkeeping: Organizing Your Financial Life.
- Permanent files – on-going records used infrequently, such as employment and education records and health benefit information.
- Dead storage – anything you feel uncomfortable discarding, such as old tax records or real estate you’ve sold. These can be stored in less accessible drawers or boxes.
Discard the following monthly: Credit card, grocery, ATM, and debit card receipts after they appear on the statement unless they are needed for taxes, business, or proof of purchase.
Keep these items for one year:
- Paycheck stubs – save until you compare with your W-2 and Social Security earnings statements then shred.
- Canceled checks and bank statements – shred unless needed for tax purposes or can be retrieved online.
- Quarterly investment statements – double-check with year-end statements then shred.
How Long to Keep Tax Records
The IRS recommends 3-6 years for income tax records, worksheets, and documentation of deductions. Keep records for as long as needed for administration of the IRS code. Tax records often are useful in situations where financial history is relevant.
Do Not Toss:
- Birth and death certificates, adoption decrees
- Marriage licenses and divorce decrees
- Social Security cards
- Military discharge papers, including spouse, even if deceased
- Immigration documents
- Pension plan information from current and former employers
- Estate planning documents
- Life insurance policies
- Titles for property still owned
De-clutter a section at a time – if the task seems overwhelming, work at it 15 minutes a day until you’re finished. Then, enjoy less stress with organized files!
Adapted from De-Clutter Your Financial Life, Julie England, UF/IFAS Extension Lake County, and Lisa Leslie, UF/IFAS Extension Hillsborough County, 02/16.
