Category Archives for "Living on $30000 or Less"

March 24, 2016

How to Use Your Tax Refund to Build Wealth

Using Tax Refund to Build Wealth

Find out the secret on How to Use Your Tax Refund to Build Wealth

How to use your tax refund to build wealth…

If you just got a tax refund and you have been living lean in an effort to get ahead (or simply stay afloat) your first instinct may be to splurge… But, remember when I mentioned the lottery and all of those financial talks? When people first get a large sum of money the first thing they want to do is SPEND. A smart person knows that the first thing you do is stop and THINK. How to build wealth? How can you maximize this money? How can you grow this money? How can you make this money work FOR you? Whether it is $100 or $10,000 the first thing you need to do is make sure that you know where the money that you owe that isn’t yours is at.Continue reading

March 24, 2016

How to Make Money Using your Tax Refund

How to Make Money Using your Tax Refund

using your tax refund

How to Make Money Using your Tax Refund

It is that time of year. The time of year that we fill out endless documents that verify how much we have paid into the system and how much if any we will owe or get back. I hear it all the time I can’t wait to get my tax refund. I am going to buy “insert item that isn’t needed here”. This is How to Make Money Using your Tax Refund.

The first thing I need you to do is figure out what debt you have. Yes, you read right what do you owe and where? Then you need to figure out what you are paying on each debt that you owe.  Three things to look at:

  • the interest rate
  • the terms and conditions
  • what you can do to impact that debt

The truth is a tax return is evidence that you are giving too much to the government and they are returning your surplus. People act like this is free money. It isn’t! It is actually your savings. I would suggest saving it. It isn’t what you save, it is what you spend.

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March 18, 2016

How to Budget Your Money

Learn How to Budget Your Money with these tips.  Learn to thrive on lower income like we do on $30,000 or less per year!  A great budget tool!

Are you thinking about getting your finances under control and tightening up your belt to achieve some goals? Then first thing’s first, you need a budget! Goals are great, but you need to know where you are starting to know where you’re going to end up and how to get there.

There are two ways to on How to Budget Your Money. First, would be listing out all of the possible spending categories (payables) and plugging in your “take home” income (receivables). The other is the reverse. List out all of your monthly expenditures and then divide your monthly income up accordingly. Personally, I think there is no “right” or “wrong” way but only a matter of preference and what actually works for you.

How to Budget Your Money

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Family Home Budget Tips for Living on $30000 or Less

Family Home Budget

Family Home Budget

Raising a family is fun but can be full of challenges. As kids grow so are the family’s expenses, that’s why it’s important to stick with your family home budget. Below are some simple tips that you can do to save big and live on  $30,000 or less.

Family Home Budget – Tips for Living on $30000 or Less

save money

Savings tips for the home:

  • Of course the obvious: turn out lights, don’t let water run, don’t leave TV on.
  • First and foremost, we created a budget on Mint.com which sends us an alert when we get close to our limit for each category
  • We keep our A/C at 80 in the summer and heater at 68 in the winter (turned down to 55 at night)
  • We got rid of cable because there’s nothing we NEED to watch, and if we want to watch something, usually it’s on Netflix or we can watch it online a day late.
  • Unplug anything not in use. Cell phone and laptop chargers drain power even if the device is not charging
  • We use coupons and take advantage of BOGO deals at our local grocery stores and always plan meals around the sale ads
  • We don’t eat out except for special occasions and even that is rare. I think it is more special to cook a special meal of someone’s favorite foods than to go out to eat. (Fast food/restaurants we are big chuck of where our money went before.)

cat-meme-1-budget

  • We have a small garden in our yard which my kids LOVE to help with in order to offset produce costs
  • We have the lowest cell phone plan because I am usually at home and anyone who needs to get in touch with me can call the house phone, and same with data, I’m at home so I mainly use the wifi
  • We use a bank with interest checking (While it’s not much, it adds up)
  • I try to do all my running around for the week at once, so I am not constantly running around town wasting gas
  • I LOVE yard sales. I have found so many great deals on everything from furniture to clothes to dishes and everything in between
  • I check our local freecycle group once a week (a group where local people post things they have that they are willing to give away if someone comes to pick them up.)
  • I make big meals for my family of four so we always have leftovers which helps with the not eating out because there is always something in the fridge to heat up.
  • Allow 10-15 minutes between meal helpings, people usually overeat because they eat too fast and don’t give their food time to settle (esp my kids). If you give your food time to settle, you’ll usually find you’re full and don’t want seconds (of course you’re always welcome to them if you truly are still hungry)
  • Always buy generic if available (always check active ingredients first though)
  • I use gasbuddy to find the cheapest gas near me when I fill up (again, small difference, but it adds up)
  • Buy anything you know you’ll eventually use that won’t spoil in bulk. (trash bags, lightbulbs, paper towels, detergent, etc.) This also saves on gas by cutting out extra trips to the store

money

Saving tips for kids:

  • Matinee movies are usually half the price and we eat before going o they aren’t hungry for popcorn or candy
  • Check with parks and rec for local events. We live in a college town, so there are always free events and concerts going on and we make an effort to attend these
  • IF we decide to go out to eat, we base it on who has kids eat free nights (Frugal living website)
  • We homeschool, so we do a lot of field trips with out homeschool group which don’t cost anything
  • They have kids clothing consignment sale twice a year here, so I buy the kids new clothes and sell their old ones
  • My daughter begged me to teach her to sew, so I did. Now she loves to sew new clothes for her dolls and barbies from scrap cloth I pick up from freecycle or yard sales
  • Before planning an big money event always check for sales. My daughter wanted to go to Six Flags for her bday, so I checked around and found out that they were planning Homeschool Day for the day before her bday so we planned to go then because tickets were $37 cheaper than if we went on her actual bday

wipes

  • Anytime we plan an outing, we make sure to pack a cooler with snacks/lunch/drinks, so we are not tempted to purchase them
  • Teach kids to enjoy the outdoors. We save so much more than our friends because our kids don’t feel like they have to have the newest game system or ipad, they enjoy just going outside or to the ecology preserve near our home and playing outside using their imaginations.
  • Utilize free/cheap resources for vacations: road trips, campgrounds, etc.

More than anything be realistic about your situation, of course there are things I wouldn’t mind having, but I have to stop and ask myself if it’s something I really need and/or would even use. Usually the answer is no. :-/

Thanks to Alexis R. for sharing these tips!

For more Family Home Budget – Tips for Living on $30000 or Less also read these:

Living on 30000 or Less: Raising a Family of 6
Living on 30000 or Less: 10 Tips
Living on 30000 or Less: Raising a Large Family
5 Tips on Living on 30000 or Less

Also check out our money saving tips:

frugal ways to save

Frugal Ways To Save Money

frugal ways to save money

Frugal Ways to Save Money: Getting Out of Debts

$5 Savings Plan

Get Kids to Save Money

Get Kids to Save Money

Living on 30000 or Less: Raising a Family of 6

30,000 image.jpg

How to Save Up Money: Tips for Living on $30000 or Less

get rich

How to get rich in 5 minutes a day

Do you have Family Home Budget tips? Share it with us below.

Living on 30000 or Less: Raising a Family of 6

Budget Saving Tips on Living on 30000 or Less
Raising a Family of 6 on less than $30,000

6 Tips to living on 30000 or Less

My husband is a disabled Vet, works for minimum wage, and I draw disability due to a heart condition. Until we filed our taxes I thought we were doing pretty well for ourselves. That was until I saw that our total yearly income was only $22,000. This made me think about all of the ways throughout the year we have saved money. I am more than happy to share with all of you some of those ways!Continue reading