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Where Money Really Does Grow on Trees
Scott Reynolds
Scott Reynolds
Jun 17, 2010

envelope

In a personal budget all sources of income are identified and expenses are planned. One way of budgeting originated during the Great Depression. It’s called the envelope system. Basically, for every bill or expense you have you dedicate an envelope to it with the estimated amount written on the front of the envelope. Once you have funds or get paid you put that amount in cash into the envelope. Once the expense is due you take the money out and pay the bill. If you do this for all of your expenses there is no confusion between amounts owed for expenses and other monies in your bank account. Hopefully, by identifying your income and expenses you can also be inspired to save some money for emergencies, or even long term savings goals.


Derek Allen
Derek Allen
Jun 11, 2010

text_messaging

I have never been much of a texter because I’ve always had a pretty crumby phone. I always had plans to upgrade to a smartphone when I could afford one. However, when my girlfriend put my phone through the washer I had to use my upgrade on a replacement phone. I was finally able to upgrade to an iPhone and consequentially my text messages began to rise out of the limits that my basic plan provides (200 total: in and out). For another $10 a month I could add 1300 more messages, but I knew I wouldn’t use all of them and I didn’t want to give more money to my cell phone provider for a service that costs them virtually nothing. Then I realized I could use Google Voice to help with this dilemma. I signed up for it a long time ago and only really used my invite for the vanity number. I could be using it to send free text messages straight from my phone.

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Scott Reynolds
Scott Reynolds
Jun 10, 2010

tighten belt

You may not think it possible especially these days, but some families either by choice or by the loss of a bread-winners job, live on one income. In reality a family living on one income can be more financially stable than one living on two. The reason is if one income is lost due to the loss of a job the two income family would be in trouble, or at least need to make major adjustments until a new job was found. Most two income families live within those means, but have become accustomed to that two income lifestyle and need that income to cover their basic needs like mortgage, loans, and credit cards. A one income family has already made those adjustments. Regardless, the first step is creating and strictly sticking with a budget.

Where things really get interesting is when you have two incomes and continue with two incomes, but budget yourself to live in one. This takes a lot of planning and potentially a lot of cuts, but that’s when you really begin saving and paying off major debts like mortgages.  For most people once you have paid off your mortgage, the rest is very manageable.


Scott Reynolds
Scott Reynolds
Jun 04, 2010

green_grass1

About 6 months ago I looked into getting a reclaimed water hookup for my sprinklers. My county offers the option to hook up to reclaimed water if you have the work done to connect the line to your system. I considered this for 2 reasons. First of all my county has cut our regular watering days down to 1 day per week. St. Augustine grass just doesn’t want to survive with water only once a week. The second reason is that reclaimed water is much less expensive than potable water. The initial investment was about $500 for the county and the plumber that installed the lines to my system. So far I have saved at least that much. My water bill has been cut in half since the installation.

Now I understand that some people consider having a lawn in the first place is wasteful and unnecessary. Some people have rocks or wood chips as a lawn, but for my community only a regular grass lawn is allowed.

This is just one way to create more money power for yourself.


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