Who? The IRS?

April is right around the corner, and if you're like our family- we DREAD tax season. I mostly dread it because of all the paperwork that is needed for our company to file taxes. I feel like the paper pile higher and higher every year. But, I'll do whatever it takes to avoid an audit- which means, filing 100% truth and nothing but the truth. Even if you have to pay, it's better than going through an audit and potentially facing jail time, right?!?!?

This year is the first year that I have ventured out to file our personal taxes myself. I am using the AWESOME tool- TurboTax. For anyone who doesn't have a masters in accounting, I would highly recommend this tool. It's super easy to navigate and a ton cheaper than hiring a professional CPA to do your tax filing. And, it promises to automatically tag anything that is questionable (i.e. anything that the IRS would pinpoint as "sneaky")....haven't had that pop up! Thank goodness! The user can also tag items to come back to- which I use often as I'm waiting to put in additional stock information from my husband's family stock.

So, if you want to go out on a limb, try TurboTax. If you still don't have enough confidence in yourself, a CPA is worth the money!

Whichever you choose, think about these things:

1) If you bought a home in 2008 and took the new home buyer credit, that has to be repaid...it's automatically taken out of your refund or added to the amount to pay. If you bought a home in 2008-2010 and took the credit but have since sold your house, the credit has to be repaid.

2) Student loans. Even if your parents are generous enough to be paying your student loan, the student is actually the one that gets to claim the loan interest and payments on their taxes. It's considered a "gift" from the parents that belongs to the student. Interesting, huh?

3) Remember ALL of your deductions. Churches, school fundraisers, Goodwill- all deductible. For Goodwill donations, you need that little piece of paper that they give you after you've dropped off goods. It has to have a 2011 date on it. And- you're only allowed to claim up to $500 per receipt unless you want to delve into itemizing your items donated with proof (i.e. pictures)- but who takes pictures of their stuff before donating?!?? Not me!

4) Remember ALL medical expenses- insurance, medicine, doctors visits, etc. These GREATLY add up in our family with a child and an adult with Type 1 Diabetes. Take the deduction!

Visit the IRS website (IRS.gov)- it's really helpful!

Happy tax season (in a sarcastic tone),

Erica

Philanthropy- A Spelling Bee Winner!

If you ever want to have a kid that wins the spelling bee, teach them to spell philanthropy at age three! If you ever want a kid to succeed in life, teach them what philanthropy means. Philanthropy (for those of you unversed in Webster's dictionary) means: goodwill to fellow members of the human race (thank you, webster.com for that definition!).

Why is philanthropy on my "wealth" blog? Philanthropy is about giving, wealth (in a monetary since) is about getting? Right? Not really.

From the time I was old enough to manage money, I was taught to give more than I receive. We did the Angel Tree at Christmas for needy children, we give to local school fundraisers, we support non-profits in our county, and above all- we give back to God in our tithes.

If you feel blessed in life, don't you think it's time to share your blessings? If you feel strained in life, don't you think there are others out there that feel a bit more pinched? If you look at all you have- why not give a bit away?

Ways to give:

#1- Tithes. I'm not a holy roller- never have been, never will be. BUT- God deserves ALL we have. He gives us 100% of what we have, we should always give back to Him. Tithing has been the #1 way that Josh and I have been blessed in our personal finances. We budget (see my blog on budgeting) to give every single week. If we miss a week at church, we double tithe the next week. There is never a time that the offering plate passes our pew without a envelope from the Goodnight's- and there has never been a bill we've been unable to pay. You can't out give God. Give- I guarantee He'll provide.

#2- Donate your time. Time? What time? With a one year old I KNOW what you mean when you say time is limited. Time is sparse. But, donating your time is often more helpful than donating your dollars. I was the chair for a Ryan Newman Foundation and Hospice of Iredell County Fundraiser called "Hounds For Hospice" and I was so grateful for those that simply came to help out. Without those "donors" we would have never made it through the day and I probably would have given birth (I was 8 months pregnant on the day of the outside July event).

#3- Give to local charities. Your community is probably just as full of them as ours. You have schools that constantly send out kids with things to sell- break down and buy the box of cookies. There are non-profits that are 100% ran by donations. In our community we have the Child Evangelism Fellowship (CEF)- giving money to that non-profit provides afterschool care with a Bible center (and a snack!) to elementary school children. There is always a Hospice nearby- give give give. 100% of Americans will be faced with death at some point in their lives. Losing a loved one is never easy, but Hospice is a fantastic organization that is expertly trained to ease the hurt- but again, they're a non-profit that depend on your donations.

#4- Pay it Forward! My 2nd favorite! Have you ever been in a drive thru and paid for the car behind you? Try it! You'll feel fabulous the rest of the day! The benefits are: you remain anonymous, the drivethru person can tell the next car "it's free" and "pay it forward", and you may just start a revolution in your town.

So, as we are all pinching pennies these days worrying about the next bill in the mail, just remember- at least you're fortunate enough to have bills. There are clothes on your back and food on the table. Do something for someone. You can't "over give"- and you certainly can never give more than you'll receive.

Karma works- do good and good will be done unto you.

Erica

Do Yo Chain Hang Low?!?!

Yesterday I busted out my keychain and immediately thought of that song "Do Yo Chain Hang Low"- why? Because my keychain was SO FULL of 1x2" "MVP" cards that it weighed close to a pound!

Since then, I have moved these valuable little plastic devices to my wallet in a specified area for "savings"!

A lot of people just toss these savings cards to the side, but they really are valuable money saving coupons!

Just for example (from a few of my favorite MVP card spots):

- Bi-Lo: I have swapped that thing every time I go grocery shopping and WHAM! I'm up to $1.00 off per gallon of gas (up to 20 gallons)- so that's essentially $20 in my pocket (I'm trying to get it up to $2.00 off before I use my points!)

- Toys-R-Us: I have used this card for baby showers/Gage's diapers/all online Christmas purchases/etc. and every single month I receive a minimum of $20 in coupons/vouchers. Now, they have to be used within a certain time frame (which I hate) but, they're still **free money!**

- East Coast Wings: they just started a new program and for every $1 you spend you get a point and the points are redeemable for food. We have already racked up enough points for a $20 voucher. The nice thing about this card is: you don't have to wait for the coupons to arrive in the mail. You use the same card for getting and redeeming points!

- Hallmark: I RARELY send "real" cards- everything is practically done online these days! But, for my important, special occasion shopping I use my Gold Crown Card and POOF! I have (so far) received a $5 voucher and TWO $5 off a $10 purchase. Last week, I went to Hallmark with my coupons/voucher and got 4 rolls of wrapping paper, a card and adhesive name stickers for $8.00. That's right! Beat it!

While these things do cause "yo chain to hang low"- they are a little piece of money saving heaven! So, move them to your wallet, take the strain off of your ignition, and keep saving money!

1x2 Cards are my BFF!

Erica

Its a Toy- It's fun for....17 days

With Christmas right around the corner...literally hours away...it has got me thinking about all of the "things" that Gage is about to get- things that will be put into his (thankfully) large toy room.

I am 100% guilty- just as 100% of each of my readers are- of getting kids toys. Toys are what they want right? Yea- that's right...for all of 17 days! After that, well- they start to collect dust. But, it's the 17 days that count!

The week after Gage was born, we went directly to our bank (State Employees Credit Union) and opened an account for him called a "Fat Cat"- it is a high-interest savings account for kids under 12. While your bank may not have a specific account for kids, it is optimal to look for any type of savings that has an interest of at least 0.75%- Gage's is a 1.0%...meaning he earns 1% of his money in interest monthly.

For each celebratory occasion, I have asked immediate family member (or those that would not be offended) to put money into his account. Anyone can deposit money, but only I can access it- which is nice! So, my grandparents can drive to the credit union, give them Gage's name and boom- they can deposit without any additional information.

It is really unbelievable how excited our family is to have this option. Of course, Gage still gets toys- just not the entire budgeted amount is spent on toys. Usually 50% enters his savings and the other 50% is spent on the 17 day loved toys!

Now, why did I choose the savings account instead of a CD or bonds? Fluidity. If I want to move his money to another higher interest account or if he gets older and wants to use it as he wishes, it's there for the taking. With CD's and bonds, you don't have that fluidity. Of course, you lose a bit of interest, but it's worth the loss in my opinion. I don't like sticking money anywhere that is not accessible. And, as for the stock market- until this economy turns around, NO WAY! 

Instead of 100% toys- try to do a percentage into a savings account. They won't miss the toys and they'll appreciate the money when its time to buy a car!

Telling Santa all of the toys that he wants...

Here's to Santa visiting your home- and 17 day toys!

Erica 

Is There a Problem with My Job?

Growing up and especially in high-school, we're all faced with the question: "what do you want to be when you grow up?" For most of us (myself included) we want to be the typical lawyer, teacher, doctor, etc. We want to be the job that we think a) pays good, b) is fun, c) fits our personality.

In my case, I got so hung-up as an adolescent on what I "thought" I wanted to be that I forgot about the other 1.2 million job titles in America. I was determined- with a capital D- to be a doctor.

My life's plan was this:

- Graduate valedictorian from North High

- Attend Wake Forest University and obtain my degree in Biology

- Ace the MCATs

- Get into Medschool (preferably an NC school)

- Become a plastic surgeon (right in-line with one of my favorite doctors- Dr. Scott Don...a brief shout-out here to this man. He is wonderful- kind, caring, humorous, and a A+ surgeon).

But, as I got further and further into my education at Wake Forest, I became less and less convinced that being a doctor is what I was supposed to do. But, HOW would I tell the world? How would I tell every person that believed in me to become a doctor that I wanted a change in plans? Since I was 7, I was going to be a doctor- this means I was on that career path for 14 years!

After taking the MCAT (doing well- not perfect- but well), and applying early to medschools- I started thinking/fretting/praying/etc. I started getting acceptance letters (from ECU), waitlist letters (from WFU and UNC)...THE TIME WAS NOW! I had to make a decision.

I was scared of what people would think, I was scared of what to do with my education (time and money spent), but I was ready to take the leap.

I now work for Union Grove Lumber as the CFO- so I deal with bankers all day and not women who want plastic surgery. I put on my blue jeans and polo shirt instead of scrubs. I bring home a paycheck just like anyone else in the working world. And, I do not see anyone that has a problem with my job. I am happy, I am content, and I am successful.

So, if you are stuck in a rut- or if you have made a lifetime decision that you think you can never change- it's not too late. The only person that will find a problem with your job is you. If you're not happy in your current or future situation- change. If you're worried about a pay change, the truth is, your happiness is worth more than extra bucks in the bank.

No problems in paradise,

Erica

Is this "Scrooge" Like Behavior?

Do you make a list, check it twice? Not only does Santa do this, but a budgeter does, too!

In this "wealth" post, I have decided to post how I do our Christmas shopping and how I save money while buying great gifts for all of those we love.

While I posted earlier on Black Friday the reality is that not ALL of our Christmas shopping can be done then; although I like to believe that I get at least 85% of it done on the Friday after Thanksgiving.

Our Christmas shopping always starts with a list and a budget. The list is created and then adjusted as needed.

First, we make a list of names for people to buy for. Of course, the top of our list is our baby boy...then grandparents...then people who's name we drew for Christmas exchanges. The list is reviewed before Black Friday by myself and my husband and we add/subtract as needed.

Second, we place a dollar figure beside each person. For Gage (our son) we put two dollar figures- one for presents and one for his savings account. For each grandparent, they got the same figure, etc. Now, keep in mind that this figure is <at least> the amount that the gift must be worth.

Third, Josh and I go through the sales papers and Groupon offers to see if there is anything listed that we know would fit one of our gift needs. If we see something, we write it on the list. If we don't see something specific, we write down what we are looking for.

Last, we shop. Now, back to the dollar figure...this is the amount that the gift must be WORTH! If it's on sale, that's to our benefit and it proves that we are smart shoppers. I don't know about you, but we don't have thousands of disposable dollars to spend on Christmas shopping. If I want to spend $100 on someone and if I find a gift that is worth $100, but I got it on Black Friday for $40, then I found myself a good deal. The recipient will never know the amount that you paid for it...hopefully they'll love it and appreciate it!

So, is it Scrooge like behavior for trying to save money on gifts during the Christmas season? In my opinion, NO! It just means you are a smart shopper!

He LOVES Santa- and opening gifts!

Save Your Dollars...And Give Gifts Galore!

Erica

The CRAZIES Are OUT!

One of my favorite shopping days is right around the corner...BLACK FRIDAY! Or, I think it should be called "Tromp you over Thursday" and "Frenzy Friday."

In our area, a few stores are opening on Thursday night. So, a few of us girls are leaving to shop at 10 pm. I "hope" to be back by 10 am- that's 12 hours of death defying, gift grabbing, punch the other person in the face shopping.

This year, I'm on the prowl for a Powerwheels car for the main man and possibly a LeapFrog learning tablet too. Of course, not just "any" Powerwheels will do- I'm looking for a tiny, high-end car (hoping for a Range Rover!). Also, mom wants a Kindle Fire- but if I have to, I'll buy it on Amazon on cyber-Monday and not fight anyone over it (electronics are the WORST on Black Friday).

In my excitement about what my future shopping excursion will bring, I was reminiscing on my past experiences. My college roommate and I shopped at the beach for a few years on Black Friday. We'd leave at 11 pm, hit up the Tanger Outlet Stores then we would go sleep in the dog beds at Walmart and wait for their 4 am opening. That's right, we'd SLEEP in DOG BEDS! Then, once the 4 am bell rang, we fought (yes, tugged and pulled until victorious) for a flat screen TV. After strutting out as the "winner" we went to the mall, struggled to stay awake and finally arrived back home (delirious) at noon. We saved a lot of money and saw a lots of crazies- so it was worth it!

My veteran advice: take a list- stick to it. Have a budget- don't break it.

Our 1st Christmas

Enjoy the fight,

Erica

It Was the Bomb- Like Tick-Tock

All of my posts thus far regarding "wealth" have been about how to budget and save money. However, there are a *few* things that I refuse to budget on and refuse to "limit." One, is vacations (however, I will post later on how I book exotic trips) and the second is birthdays.

Baby boy turned one this year and around 9 months BEFORE his birthday, I started the planning. I did set a budget, one that is too extreme to even post in good conscious. I did stay *close* to budget (my husband will NEVER know the true outcome!) and I did manage to save some money by doing shopping when sales were happening, cutting coupons, etc.

How to throw a bomb diggity party:

1) Enlist help!

2) Start planning early

3) Have a theme and STICK TO IT!

#1- HELP HELP HELP

You have friends and family for a reason. God put them in your life to be free help! Ha! Honestly though, if you're throwing a huge party, your friends and family would love to help (or at least mine did). I asked my parents for help paying for the train...I asked my mother-in-law to get the 120 cupcakes...I asked my father-in-law to bring 150 meatballs....I asked Gage's godmommy to bring her world famous spinach dip....I asked Ashley to be the photographer....Vickie ran the video camera...and Meg mixed the train CD....then I asked all of Gage's aunties (6 of them- they're really my friends- but he calls them "aunt") to run the stations.

#2- PLAN EARLY!

If there is any chance under the sun of saving money, plan early. I did this and saved a bit (not much- but enough to be proud!). I knew that I wanted to "build" a train for Gage so I saved old UPS boxes and created a train (pics below). Then, I knew that I wanted fruit cups, small bags of chips, and LOTS of candy- so I bought these when they were on sale and checked expirations to make sure they'd still be good. I also HAD to have a REAL train at the party- so I booked it 9 months in advance- did NOT save any money- but DID secure the "pretty" one! I had gifts at each station (and/or tattoos) so I bought these from Oriental Trading when they were offering free shipping/discounted product.

#3- THEME IT OUT!

Gage's party was a train theme and here's how I incorporated a train into all aspects:

- The invitations looked like a train boarding pass and included a train schedule and a train CD

- The entrance was a boarding station where all passengers checked-in and all kids under 10 got "luggage" which included a train hat, whistle, and Gage Dollars (to spend in the gift shop)

- The food station was called "Box Car Grille" and food was served off of the cardboard train I made out of scratch.

- There were 3 other stations: "Shops on Main", "Tattoos-R-Us", "Molding Magic Workshop" (play-doh station). Not only did the stations look cool, but the parents LOVED me for having things to occupy their kid's time.

- Of course, we also had the REAL train that ran outside the entire time of the party. Guests could hop on and off as they pleased to take a ride around the 5 acre facility.

- All decorations were in primary colors- and kept clean- not cluttered.

All in all, we had a BLAST. Everyone that came commended the party- which wasn't the purpose- but it made this mama feel good! I've already been asked about the extravagent theme for next year- I'm thinking a circus. With real acrobats and, of course, a real tiger!

The birthday boy had a good time too...the pictures are evidence of that.

Save a little...splurge a little...it's all good!

Erica

It's Illegal to sell Mints with Crack

Last Friday, Gage and I went shopping. For what? Oh, nothing in particular. In all honesty, we just had to get out of the house. I had a few coupons/gift cards/vouchers that I wanted to use- AND my grandmother just gave me our Christmas money to start shopping for gifts that she will give us (gotta LOVE that mentality!).

Anyways, as we strolled through the mall, there it was. The angels of the Heavens started singing. The lights started flashing. I think I even heard it call my name. That's right, the Hickory Farms booth is UP!

Of course, the sausages, the cheese, the nuts, all of that is great. But, those darned "Melt Away Mini Mints"! I just CAN'T RESIST! They are small pieces of glory. I honestly think that it was God's plan to put the inventor of those mints on this earth just so that I would have 1 thing that I 100% cannot pass up during the Christmas season.

So, there I stood, at the Hickory Farms booth. The nice lady running the station asked if I would like to sample one of their Mints. Uh, was this really a question? It's rhetorical if you ask me! OF COURSE! And, nice Hickory Farms lady, my 14 month old would like 2...or 7...to "test" also.

Against my greater will power, I gave in (as always). I bought one, small, overpriced, delicious bag of "Melt Away Mini Mints" that now sit, in a beautiful bowl, on my kitchen counter. Everytime we walk by, we eat one....or two...Gage even stands at the counter and says "mmmmm" and "gree gree"- that means (in baby talk) that he wants a green mint! I think I've created a little addict- to mints made with crack. It has to be made with crack- it's addictive- it's impossible to walk by and not take a hit...a hit in the mouth with that yummy goodness that is!

Here's their website: http://www.hickoryfarms.com/ They are offering 3 day shipping for $3- but, don't worry. You can't buy the Melt Away Mini Mints on here- they're already sold out! So, you'll have to get your Mint/Crack fix by going to the mall. Tell them their #1 Addict says hi!

My mouth waters just looking at this picture!



Have a Merry Mint Eating Day!

Erica

Budget. Wait! What budget?

As promised- today's "wealth" blog is on budgeting. I know, it's your most favorite topic, right? (big BIG sigh).

Most of us find ourselves **thinking** we have a budget, when really, all we have is a knowledge of our bottom line in our checking account. We know we have enough money to cover the bills that are sitting on our kitchen counter, but we have no idea how much money will be left in our account at the end of the month.

For the Goodnight household, I know EXACTLY how much money will be left in our account at the end of each month, heck- I could tell you within a couple of dollars how much we should have on December 31st.

Creating a budget isn't all so bad if you have the handy dandy Excel program on your computer. I adore Excel- I use it for practically everything! It adds for me, it color codes for me, it is wonderful! By the way, my accountant LOVES my Excel use too! I just burn my annual banking information for her and BOOM, she has every single transaction- deposits, debits, the WORKS! She knows my color coding system (which you'll be introduced to) and she knows that everything is to the penny. My taxes are done pronto and my refund check is mailed out before tax season truly begins!

Now, how to budget....

First, please take a look at a screen shot of our budget for this month. This page is used every single month and starts clean on the 20th of the month (that's when our check and visa ledger is mailed to us from the bank). I like to start the month clean after I've balanced all of my transactions to my ledgers (checking and visa). Don't let this screen shot overwhelm you, and don't analyze my numbers (I changed them a bit so that you couldn't judge the money we make and/or how much our mortgage is!)

Here's how to set your own up:

1) Open excel and create your budget sheet by....

     a) Making five columns- transaction (where/what the money went to), date, type (remember, you're listing your visa transactions too so that it's not a "scare" when that visa bill comes in), deposit column (so that it's easy to see that money coming in!), and the transaction amount (remember to put a negative symbol in front of the debits!)

    b) The first line needs to be your original balance from your last checking statement- for us, this was $500.00 (not really, but for the sake of this example)

    c) The following lines needs to list your transactions as they occur

    d) Then, at the bottom of your transaction list, use the handy dandy "SUM" button in excel to add up all of your transactions in that column. For us, the balance to date in our account (for this example) is $418.21. Now, keep in mind that this includes ALL Visa purchases since the 20th. So, if I look at my online banking, I actually have more than 418.21. I have 418.21 PLUS all of my Visa transaction amounts. But, since I don't want "Visa Shock" I take out these transactions as they occur.

2) Create a separate section at the bottom of your spread sheet for your monthly bills.

    a) You can see that we have 10 bills that occur on a monthly basis- whether we like them or not! I like to color code these bills so they're easily found at the end of the year. The lime green is anything medical and/or tax deductible. The yellow is insurance, purple is our satellite bill, etc. I like colors- this isn't necessary, but it's easier for me to find my transactions!

    b) In the next column over, list the amount of these bills per month. I have my bills set up on a budgeted plan through the provider so that my bill is the exact same every month. If you do not have this set up, use an average...or your best estimate. And, this doesn't mean just bills that are paid from your checking account- if you'll notice, I pay a lot of these bills with my Visa...I gotta get them points!!! Use the handy "sum" button again to see the sum off all your bills in the month. Ours is $4,367.06.

   c) In the 3rd column over, list these amounts AGAIN. Why? Because as you pay these bills, you'll remove their amounts from this column (I put **'s). Use the "sum" button again to see the current amount of bills you have LEFT to pay for the month. We have $1,785.65 left to pay.

3) Now, my favorite part. The "INCOME INFO"!

    a) Put the dates of your pay date. Ours is weekly- yours may be bi-weekly...monthly...etc.

    b) In the next column over, put the amounts that you'll receive on these dates.

    c) I also have a line for "Insurance" income because I get a stipend for this amount. So, if you have any additional, non-payroll income, place a separate line for that.

    d) Then, have a line for "INCOME BALANCE"- use the handy "sum" button and choose to add the lines for your income. Once you've been paid, put **'s in that slot...the Income Balance is what you're still owed from your employer.

    e) Then, have a line for "CURRENT BALANCE" and in this slot type in "=" and choose the slot with your current checking account total. For us, this is $418.21. As this amount changes, it will automatically update if you use the "=" button.

   f) Finally, have a "Amount Remaining POST Bills"- in this slot type in "=" and then choose the "Income Balance" + "Current Balance" - "Bill Balance". So our formula for this slot is "=6716.32+418.21-1785.65". This totals $5,348.88 meaning on the 20th of November, we should have that much money left in our checking account. Of course, this isn't true...because of all the extra expenditures we'll have that are not "bills"- so, I like to look at this number as being the amount of money I can spend without going in the hole! I like to think about taking 1-2k out of that and putting into a savings account each month....thus my mentality is...I can spend 3,348.88 this month and still be good to go!

Phew, a LOT of information, right?

It's confusing to set up at first, but once you get it going, you won't be able to live without this spreadsheet.

If you need help with setting up a sheet for yourself (or if you simply find these directions far too confusing), let me know by commenting your e-mail address. I'll be more than happy to set one up for you that is blank and you can download it and fill in the appropriate information for yourself.

I use this same exact system for my job as a CFO....yes, it's a bit more detailed (well, A LOT more detailed) but it works. The president of our organization loves it...he loves being able to see how much money we have/need by December 31st (I run it on an annualized basis).

Happy bill paying, happy spending, and most of all- HAPPY BUDGETING!

Erica

Plastic...A Girl's Best Friend

Today's post is regarding one of my fondest topics when people ask me about financing/budgeting/wealth - PLASTIC!

In today's world, credit cards can get you into a whole pile of problems, but if you know how to use them right, you can find yourself in a bigger pile of wealth.

When helping friends budget and when budgeting for our personal finances and our business, the credit card holds the key to all things wonderful, if and ONLY IF you know how to use them.

Keys to Credit Card Success:

#1: Use your credit card to buy everything possible- Groceries, clothes, car maintenance, even your home bills (many bills allow you to pay by credit card on their website)

#2: As SOON as you use the credit card, write down the transaction like you would a regular debit card or checking transaction. Yes, this means that you have to keep a checking ledger...as in, every time you make a deposit at the bank, that's a positive entrance into your ledger. Every time you make a purchase (transaction), that is a negative entrance into your ledger. A ledger (for you budgeting newbies) is simply a list of all things going into and out of your checking account. Why write down your credit card transactions as soon as you use the card? It's not coming immediately out of your checking account BUT the bill is right around the corner and that amount will have to come out of your checking account then, so go ahead and prepare your account for that happening! If you go ahead and write the credit card transaction, you won't "miss" the money when the bill arrives- the amount had already been reduced!

#3: As SOON as the credit card statement arrives, pay the FULL AMOUNT. To the penny!! This shouldn't be a problem since the amount of the credit card transactions were already reduced from your personal checking ledger. When you pay the bill you can either A) leave all the small transactions listed and make sure they balance to the credit card bill or B) erase the amounts (and add back in) all of the credit card listings and then make a permanent reduction to your checking account for the amount of the credit card bill. Why pay the full amount? You will find yourself in a pile of debt if you don't. Credit card people don't mess! They WILL and they CAN penalize you for not paying...and don't even think about paying the "minimum amount" because you will still accrue penalties for the amount that you didn't pay. That minimum amount due is no option...ignore that line all together if you want to have financial success!

#4: My FAVORITE part...reward yourself!!! We use BB&T Signature Visa- TONS of perks- HIGHLY recommended. In our Visa Reward's we get 1/100 per dollar spent back in reward points. For example, if we spend $1000.00, we get $10.00 in rewards. Not much you think? Think again! Add up all of your bills/checking transactions/etc. for just one month. You'll be surprised. And, it's free money (even Donald Trump wouldn't complain about free money)! In our business, we spend on average 21k per month on fuel (we run trucks all across America), so this comes to $210.00 in points every single month! These points can be spent on a plethora of things. My personal favorite are the Cash Cards that you can use anywhere, Fuel Cards, or restaurant gift certificates...even Starbucks! I like to accumulate our personal points for about 3-6 months. When a holiday or birthday is around the corner, BOOM! I have a free present!

So, swipe that card my friends! But, be smart in doing so. In a few months, you'll become a budgeting genius!

Our newest "big" credit card purchase...with Papaw Mo stuck inside while blowing it up!

For a side note: my title "Plastic...A Girl's Best Friend"...use your credit card in a smart way, accumulate those points, and you can get some plastic/saline/silicone that will be your husband's best friend!

Enjoy your day...I know I am as I sit here sipping my *FREE* Starbucks (using my credit card points, of course!)

Erica

We wipe butts with dollars...

When I was pregnant, I thought that I could budget having a kid. WRONG! You can never begin to imagine how expensive these little boogers are until you have one of your own. Just to think of all the things a baby/toddler/kid/teen/adult needs is o-v-e-r-w-h-e-l-m-i-n-g.

While pregnant, I did decide that we would cut costs by making our own baby food (a topic I'll cover later), but there was NO WAY I was going with cloth diapers. Instead, "we wipe butts with dollars"- not literally of course, but diapers and wipes are pure gold!

You ask, where does the "wealth" part come in (remember, I promised I'd do a blog alternating health, wealth and happiness!?!?)...

#1: You have to allocate money to buy these diapers and wipes

#2: You have to spend time searching for ways to SAVE money on diapers and wipes

#3: You must find ways to reward yourself for buying wipes and diapers

Enter, budget queen Erica!

As for topic #1, I am a HUGE budgeter to say the least. Again, a topic we'll cover later. However, in brief, I choose to buy diapers in bulk when they are on sale. Even if I do not need them, I buy them. There's always a stinky butt to be changed later down the road. Also, allocate space on that baby registry! I thought that a few cases of each size would get me by...WRONG! An infant poops more times than seagulls...honestly. I don't see how they gain any weight! So, buy in bulk when they are already on sale in the store. Now onto #2: there are coupons galore for our brand, Huggies. But, again, you may have to buy diapers when they are not needed. I've never seen an expiration date on diapers (is there one??) so buying when there's a coupon is a must! In many cases of Huggies, there are coupons for the next case. SWEET! And, rewarding yourself (#3)for buying diapers? Not in the Starbucks run so to speak (although that's a GREAT reward for tired mama's), but in the diaper/wipe points. Yes. They are wonderful! Huggies uses Enjoy The Ride Rewards. I cannot begin to explain how many free things that we have gotten from this program. Feeding tools, learning tools, toys, coupons, music downlowads and even a pair of  Crocs! It's a bit time consuming to save the little labels inside the diapers packs but well worth it! And, you can't complain about FREE! Even Donald Trump wouldn't complain about free.

So, continue to wipe those butts with dollars all you little Mama's! But, find ways to save and reward yourself for doing so!

Our little butt...with his baby duck friends at Easter 2011

Until next time,

Erica