Tag Shopping Tips

Surviving the Holidays… On a Budget!

llmckenzi Leave a comment

Tis the season to be jolly, or in our family tis the season of birthdays, holidays and stretching our budget very thin! Over the years I have learned a few ways to embrace the joys of the season, without blowing our budget. After all, this is the time of year to spread holiday cheer so I am going to share my favorite tips with you…

Start Saving Early– I learned early on that in order to actually save for the holiday season sometimes that means you have to put a little bit a side each pay check starting in January. This amount can be as little as $10 a week. Some banks even have special programs called holiday savings accounts that are designed so you can only pull the money out of the accounts on designated times of the year, to prevent you from spending the money.

Get Crafty– Everyone loves handmade gifts! Every year my husband and I bake cookies and make peanut butter balls that we wrap up and give as gifts. Not only are these delicious treats but people seem to really love getting them as gifts! Some other ideas I have done in the past are made photo books, candles, ornaments and knitted scarves! So whatever your crafty talent may be, you can put it to good use!

Shop Around– (and I don’t mean department stores…) I’m talking about checking out yard sales and online market places for used and gently used items. Sometimes you can even get items for free or for half the cost as the department stores asking price. You just need to be willing to put in the extra TLC and give it a good cleaning or a fresh coat of paint.

Split the Cost– When buying a larger gift for someone, sometimes you can split the cost with another person or a group of people like you might split the check with a large group at a restaurant. I have done this in the past and it works out great when everyone contributes. It is a wonderful way to get that special someone the gift that you want to get them without breaking the bank!

Cheapest way to Travel– This can get a bit tricky! If you need to fly during the holidays be sure to save up for your flights ahead of time and be sure to book the flights early or as soon as a deal hits. There are tons of flight tracking websites that can help you find good prices for the flights and cities you are looking for. Some can even help you find deals for last minute travel. To save on the cost of hotel, ask to stay with friends and family instead. My advice is if you have to travel during the holidays always look into your cheapest transportation options. Ever since we started having children, we are always comparing flying versus driving for our family of five. Holidays have become more complicated for us and, because of that, it is cheapest around the holidays for us to spend the holidays at home. If family wants to visit then they are welcome too! Just be sure to chose the best option for you and your family!

Shop Online– As much as I love shopping in stores, sometimes it is just better for my budget to shop online. Especially when the store offers free shipping or with free curbside and/or in store pick up. Shopping online keeps me sticking to my list and my budget! Plus you can compare the cost with other retailers with a click of a button.

Swap Names– My three kids love to buy each other gifts around the holidays but our budget can’t be stretched for nine extra gifts. Swapping names saves us a ton of money! To do the swap, we have everyone put their names in a hat and each draw a name. Then we give them a set dollar amount limit and take them to the store and let them shop for one another. The best part about this is they get really excited to see their brother or sister open their present since they put a lot of thought into their gift. Some schools even offer holiday store programs where the students can shop for gifts at school and they will even wrap the gifts at school. We have done this in the past as well.

Shop Sales– I am a clearance rack shopper, a couponer, a discount store hunter, you name it I will hunt down the sale to find the best price. So don’t be afraid to do your research and find the best coupon or the best store price for the item you are looking for. Also, don’t be afraid to shop on Black Friday and Cyber Monday. These can be hit or miss depending on the item you are looking for but sometimes they can save you a pretty penny! My husband and I love shopping on Black Friday at the outlets. We get some great deals plus it’s the perfect date night! Win-Win!

Stock up on Promotional Gift Cards– Anytime I can take a survey or refer a friend, I get a free gift card. I stash it away for the holidays. These make great gifts or can be used to buy great gifts for the holidays! For the foodies in your life be on the look out for restaurant gift card deals in the winter months. Many restaurants like to have promotional gift card deals where you buy a certain amount in gift cards and you get a bonus gift card for free. Just make sure you check to see if the gift cards have a use by date before you stash them away!

Yankee Swap or White Elephant Gift– I love these gift swaps because they are outside the box. Usually you play these types of holiday swap games at parties but I have done them with family as well. It is a great way to mix up the holidays, plus it’s an easy gift that stays within our budget. If you don’t know what a Yankee swap is, it is when you bring a wrapped or unwrapped gift to an event. Usually the gift has to be under a certain price point and most of the time it is cheap! The gift is usually something practical like a candle, a blanket, sometimes if it is an adult gathering you could do wine or scratch tickets. Then you draw names or numbers and when you are called you pick a gift and unwrap it and you chose to keep it or swap it with another person for another gift. It is a fun little game. White elephant has the same rules except the twist is that the gift is usually something silly like toilet paper or used gift cards. The point is usually to buy or find the most outrageous gift… plus it makes the game more fun! These are great games to play if you are hosting a party so everyone goes home with a gift and plus its a fun game that everyone wins.

So there you have it folks, I hope you enjoyed my tips! I also, hope you have a season of savings, a season of cheer, and to top it off a wonderful New Year!

Happy Holidays!

Tips for Living off a Residents Income

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One of the biggest misconceptions of residency is the pay! Most people assume that once you graduate from medical school and become a doctor that you’re rich! Well I am here to tell you that… it’s not true! Residents earn a decent income however, in our case, I am a stay at home mom, so that residents income has to stretch for a family of five! If you add up the long hours and the fact that on many weeks my husband only has one day off then his salary ends up being less than minimum wage! Yeah, you read that correctly! Less than minimum wage, folks! So as you can see residency life is not easy and it takes some creative planning to survive. Here are a few tips I’ve learned along the way!
 
You Need a Budget!– If you don’t have a budget yet it’s time to start! Now a days there is an app for everything including creating a budget that works for you. Some months our budget is a hot mess because life happens like unexpectedly needing to replace tires on our car! Try to create a nest egg for yourself, even if it means you can only put away $10 every paycheck. This nest egg will not only come in handy for the future but it also comes in handy for when the holidays come around.
 
Shop Smart– Since I stay at home, I do all the shopping. I coupon, I read flyers, I stay on top of the weekly ads. I love reward programs that give you points or cash back for purchases. I even use reusable bags to save a few cents. I shop at multiple stores each week for things like household items and food (I know it sounds crazy!) If you hate to shop, don’t worry! Many stores now offer to do the shopping for you and some will even deliver to your home. All of these things require me to plan ahead and can be time-consuming. The savings add up over time so trust me when I say it’s worth it!
 
Cut out extra spending– To save money we rent movies instead of going to the movie theater. If we do splurge to see a flick we go on a weekday to take advantage of special deals like buy one get one free. We also only eat out one night a week and, you guessed it, we eat out with a coupon or on kids eat free nights! You have no idea how hard this is for us since we like to eat how feel, haha! I also keep an ongoing list of things we need for our house or for ourselves that over time we purchase when we have money left over in our budget.
 
Buy Secondhand– We have growing kids who always seem to need something. I consign most of my kiddos clothing and toys. I love to shop consignment store deals during off seasons and stock up for the following year. By doing this I’ve saved hundreds! Clothing isn’t the only thing we buy secondhand we also buy used furniture and toys from yard sales and online marketplaces.
 
Being in residency is like a real life version of survivor except nobody gets voted off the island. Instead you have to learn to survive with the cards that are dealt to you. You will find ways to help make life easier and over time it does get better. Residency is very much like medical school in which the days are long but the years are short. It will be over before you know it and you will be back to making a decent income once again. Just know that you can do this! It’s not easy, but you got this! For more money saving tricks, check out my article Shopping on a Med Student budget!  Be sure to comment below your tips and tricks you have used along the way to help get you and your family!
 
 
Happy Survivin’
 
 
Disclaimer: This article is based on my own experiences and opinions.

Shopping on a Med Student budget!

llmckenzi 1 Comment

I am a stay at home mom (SAHM) so I am always looking for ways to save money for my family. Our medical school budget is split into three parts: Bills, Gas, and Food/ Necessities. Unfortunately we have paid off all the bills that we can and cannot cut our bill budget anymore (well unless we win the lottery… but that is just wishful thinking!) As for gas the only way to cut our budget is to not drive anywhere… and I don’t think my husband would be a fan of running to work and school. That leaves me having to get creative with our food and necessities budget. My husband and three kids love their groceries and they sure know how to clean out our cupboards. My journey as a SAHM and med student wife continues to be a challenge for me but here are a few helpful tips I have found along the way…

Shopping Tip 1: Always make a list!

Making out a shopping list that only includes the items you need, will help you stay on budget. I do allow myself one treat each week that is not on the list since I usually find something on sale that would make my week go from ordinary to extraordinary! Note: I only allow an extra treat when I have wiggle room in my budget. Every once in awhile I forget to get something on my list (this happens more frequently when I bring the kids with me shopping.) If I don’t have time to run to the store, I will ask my wonderful med student husband to pick it up for me. However you should know that my husband is notorious for going to the store and coming home with bags and bags of snacks, treats, and too much food! The best part is not only did he go over budget but sometimes he even forgets to pick up what I asked him to grab for me (Haha, this is one of the joys of marriage!) I also find when I bring the whole family shopping I tend to go over budget because everyone likes to put individual treats in the cart. Always make a list and stick to it! Another helpful tip for grocery shopping is make a weekly menu! A few years ago I started making a weekly menu to save time and money at the grocery store. I bought a small whiteboard and some dry erase markers and each week I make out our menu. It took awhile for my family to get on board with this new plan, since my family likes to eat how they feel. Over time this little tip has saved us money (which is AMAZING!!!) but at first it may be hard sticking to the menu. Trust me, as long as you stick to it you will see a difference in your budget! A bonus tip is to plan your menu around what is on sale at your local grocery store that week.

Shopping Tip 2: Bring your own reusable bags!

Not only is this tip better for our environment but it also pays to help save the earth (literally!) Many stores offer incentives and will pay you to bring your own bag. Usually it is only a few cents but over time that adds up! So do your part and bring your own bag! My favorite bags are the Target bags because they only cost you a dollar, they are sturdy and hold up to my heavy grocery items and Target gives me 5 cents for every bag I bring with me! Score!

Shopping Tip 3: Buy yourself a small calculator or use your phone app!

When I first began this journey of living on a budget, I often found that when I took a running tally of my groceries I was always off. I went to the Dollar Store and bought myself a small calculator to bring with me everywhere.  You can also use the calculator app on your phone but I find it easier to do it the old fashion way! Trust me, your calculator will become your best friend when you are trying to stick to a budget. Every once in awhile I will get strange looks in the store since I have my calculator in one hand and my list in the other, all while pushing the carriage and grabbing all the items on my list. The best part about using a calculator while you shop is that you will know if you are over or under budget before you get to the checkout counter. It also gets you familiar with the prices of products so when you get to the checkout counter you will know right away if something rang up incorrectly. Don’t be afraid to ask for a manager if you think something is mismarked and always take a picture of the price with your camera phone because most stores will honor the mismarked price if you have proof.

Shopping Tip 4: Use coupons, they will save you a ton!

I still consider myself a coupon virgin because I am still new at it but I saved my family over $125 the first month I tried it. I cut coupons from the weekly ads in the newspapers. I sign up for any e-coupons that get sent to my email.  I also have coupons sent to my phone that can be scanned right from my phone. The best way to coupon is to tell your friends and family. My family and friends will save their weekly newspaper coupons for me and any other ads that I may be able to use. The more coupons you have the more you can save! Make sure to check out the stores coupon policy because some stores will allow you to double or triple coupons. Other stores may only allow you to use one manufacturers coupon and one store coupon per item. Also, some stores like Bed, Bath and Beyond will take expired coupons, so you’re welcome!

Shopping Tip 5: Buy store brand products!

If I don’t have a coupon for a name brand product then I will buy the store brand. Some products you will see only a few cents of difference and then others you will find are dollars less than the brand name products. Most of the time the quality of the store brands are just as good or even better than some of the name brands.  I usually will buy store brand on my canned goods and my frozen foods.

Shopping Tip 6: Take advantage of reward programs!

I always sign up for free rewards programs. It usually is a great way to save a little extra! Some of my favorite programs offer free “cash” or store credit if you spend a certain amount of money. Most of these programs you have to read the fine print to check and see if there is an expiration date (and make sure you take advantage of it before it expires!). Other programs work as an additional coupon that you can just scan at checkout. I also use cash back apps like Ibotta, which takes the hassle out of searching online ads to find rebates and coupons for certain products.  Ebates is a similar program that offers cash back rewards if you online shop off of their website. I like to use Checkout 51 to save me money at the grocery store. This is also a free money savings app that saves you the time and effort of cutting coupons by doing it for you. Shopkick is my favorite in-store app that you sign into using your phone and Bluetooth where you earn points for simply walking into certain stores and scanning certain products. Sometimes you can double or triple your points if you purchase the item and scan your receipt. You can cash in your points for gift cards, purses, TV’s and other cool items. So what are you waiting for, start downloading and start saving!!

Shopping Tip 7: Buy online!

Over the years I have found it more difficult to find the time to get to the store to shop. Besides grocery shopping and my obsessive Target shopping addiction, I don’t shop in store as much as I used to. I find online shopping much easier since I can essentially shop around and check product prices at multiple places while sitting in the comforts of my home. Heck, most of my shopping is done late at night after I have put our kiddos to bed. I love online shopping because I often find the deals to be better than in-store. Many places will even allow you to use multiple coupons online while in-store that may not be the case.   

Shopping Tip 8: Buy in Bulk!

Since our student loans get distributed twice a year, I have found that buying in bulk has saved us a ton of money on certain products. There are many wholesale clubs that offer special perks and some even pay for themselves if you spend a certain amount in a year.  Do not worry if you do not have any wholesale clubs nearby, you can buy many bulk items on Amazon. I buy our paper goods and non-perishables in bulk at our local wholesale club. On Amazon I buy our cat food, baby diapers and wipes, since they have the best deals with their Subscribe & Save program.

I hope these tips help to make your shopping work for you and your budget! Check back soon for more budget friendly tips! For travel saving tips check out Traveling on a Med Student Budget

Happy Travelin’

 

Disclaimer: I do not work for and/or get any compensation from any of the following companies listed above: Target, Amazon, Ibotta, Ebates, Bed, Bath and Beyond, Checkout51 and Shopkick. This article is based on my own experiences and opinions.