• Save money on gift cards at eBillme.com, with great deals and cash back at restaurants like Omaha Steaks and Chili’s
• Stay in and rent a movie or hold a movie marathon
• If you have a kitchen in your dorm, make a dinner together or with a group of friends. Who doesn’t love food?
• For a fun dessert, try cooking S’mores indoors over the stove!
• Don’t have anywhere to go? Bundle up and grab some hot chocolate and go watch the stars in an open sports field on campus

Gift ideas:

• Looking for an inexpensive gift? Make a homemade collage of pictures that he or she can hang in their dorm room
• Go to a local craft store and buy melting chocolate and molds instead of spending a lot of cash on designer chocolates. It’s easy to make in the microwave and your Valentine will appreciate the homemade gift or the two of you could have fun making Chocolate together
• Burn a CD of your favorite songs and include a handwritten note about why each one is special
• Leave little notes around his/her dorm room that say why you love them

The point of Valentines Day isn’t to spend tons of money, its to remind the people in your life why you love them. So for this Valentine’s Day, remind your Valentine why they are so special to you that will also save you money!

Why it’s so hard to keep our resolutions:

• Most of us don’t think about our resolutions until the few days between Christmas and New Year’s. In those few days so many emotions and thoughts can flood our mind that cause us to make decisions too quickly on how we plan to make changes in our life and without proper planning, it’s easy to fail.
• Typically our resolutions are much too large for us to tackle in just one year.
• Very rarely do we have a “plan of attack” and without a plan for change, it’s difficult to stay the course

How to make it easier:

1. Think Early – You really should be thinking about your New Year’s Resolution several months before Christmas. Take a look at your life and decide what change(s) you want to make. Over the months/weeks before Christmas begin to narrow it down to the one thing you want to make as your resolution. But if you’re reading this now and are just beginning to think about a resolution, move on to #2.
2. Have a Reason – When you make a New Year’s Resolution you should always know why you want to make that particular change. So decide on your reason first – lose weight by eating less ice cream, put in new kitchen cabinets to remodel the kitchen, pay off all credit cards to become debt free, etc. If you don’t have your reason planned, you won’t know how to get to the end result. Be specific in what you want to achieve.
3. Set Attainable Goals – If your resolution is too big, too far fetched you will feel defeated before you even begin. You know yourself, you know your limits and your ability, so set a goal that you know you can reach. If you reach that goal within the year, then you can move on to your second New Year’s Resolution.
4. Be Detailed – If your resolution is to lose weight imagine how hard that is if you don’t have a plan. Instead resolve to lose 15 lbs, then set goals like – drink water only, eat salad 1 meal a day, no sweets after 7pm. Short term goals will help you get to your long term commitment easier.
5. Have a Resolution Buddy – Find a friend or family member who also has a resolution to keep. The two of you can encourage each other and help the other push toward his/her goal. Then you have someone to celebrate with when you reach your goal!

Best of luck with your resolutions! I hope these tips help you keep your resolutions and make it fun for you this year. Leave a comment below and tell me what your New Year’s resolution is this year!

Next month we will be celebrating Valentine’s Day, don’t spend all your money, get tips from our post – The affordable college student’s Valentine’s Date

Using Them On Yourself

There are a number of great gift cards that you can use in your everyday spending. Whether you’re looking for something online, or shopping in a retail store, you’re sure to find a bargain when using eBillme’s gift cards. But there are some dangers to using gift cards if you’re not careful. Let’s focus on a few ways that you can get your money’s worth out of the gift cards.

Namely, there are two things you must be careful with when using gift cards. The first is that you don’t spend the whole amount and the card gets lost in a closet or car seat. The second is that you overspend when using the gift card in order to get your money’s worth! Finding the right balance can be difficult. Here’s what you need to do to ensure you’re using the gift cards responsibly:

1. Buy gift cards for things you’re already going to buy. This is perhaps the most important point. Let’s say that you regularly shop Zappos.com. It might be a good idea to buy a gift card for Zappos and get a discount! Don’t buy gift cards simply because they are a good deal. Buy them because they will save you money on things you already need.
2. Track your gift card spending. With every gift card you purchase, you need to track your spending in your budgeting system. If you’re using budgeting software, track it there. If you’re using pen and paper for your budget, track it there! Whatever you do, don’t let your spending on gift cards get so out of control that you’re not sure what the balance is. This can lead to a reluctance to check, and you might find yourself wasting a perfectly good gift card!
3. Use a predetermined spending limit. Everyone wants to get the most out of their gift cards, and it can be very difficult to do so without spending over the card’s allocated amount. I recommend setting a predetermined spending limit on each of your gift cards so that you have clear boundaries about what you can afford. For example, let’s say you buy a $100 gift card. One idea is to limit your spending for that merchant to $110.
4. It’s all about your purpose. Remember, it’s important to factor in why you are using gift cards and how you can use them effectively. Spend some time thinking about your purpose in using gift cards to make your purchases.

Buying Gift Cards For Others

During the holiday season, gift cards are a hot item. People love gift cards because they can use them however they like at their favorite merchant. There are some things to keep in mind when you’re buying gift cards for other people, however. Here are a few thoughts:

1. Make sure they like the merchant. Don’t just a buy a generic gift card, make sure the card has a theme the recipient will enjoy! You don’t want them to merely pay their bills with a basic Visa or Mastercard gift card. Get them something that they are forced to enjoy!
2. Make sure it covers the amount that they are likely to spend. If you know they want to get a fancy gadget, but only give them half the money to buy it, what good is that? Be kind and give them enough money on the card to get what they REALLY want!

Gift cards are fun when used responsibly. What are your favorite gift cards?

Looking for Father’s Day Gifts? Check out all the great gift cards for dads in our post Gift Ideas for both Dads and Grads

Here are the two tips to consider:

Tip 1: Use a predetermined allocation amount.

When you’re budgeting your money for the upcoming month, how do you know how much to put into each category? You must predetermine how much money you’re willing to pull from your income per month to fund it. Sounds simple enough, right? It’s not always that easy when you’re first starting out.

I recommend that people who are budgeting for the first time start out with high allocations. Don’t sacrifice to the extent that you get burned out so quickly. Start out with a generous budget. It helps tremendously to look at past monthly spending (take a look at your checking account) to get an idea of how much you should allocate.

Tip 2: Use a budgeting cap.

A budgeting cap is different than an allocation amount. An allocation amount tells you how much money you should put into a certain fund. A cap tells you the maximum amount of money you should have in a fund during a one month period of time. The cap’s purpose is to limit the amount of money you have in your checking account as well as to limit how much you spend.

How To Use Both Tips In Conjunction

Both of these concepts I developed with time. I found that if I only used one or another, my spending would get out of control. But when you limit both how much money you’re allocating per month and how much you are allowed to store in a given fund, you significantly decrease your risk of overspending. Allow me to give you a few examples:

Fund: Electricity and Heating: Allowed Monthly Allocation is $200 while The Cap is $400. Our usual expenses in this fund is $180/month. This means we’ll usually save $20/month until the winter when we use the extra money to buy firewood.

Fund: Insurance: Allowed Monthly Allocation is $210 while The Cap is $800. Certain large insurance purchases such as auto and home insurance comes out at different times of the year. The high $800 cap allows those major purchases to be made, while the monthly allocation of $210 represents our average monthly spending.

The end result of using these two tips at once is that you may have around 5 times the amount in your checking than you’re going to actually spend in a given month. This will give you tremendous peace knowing that you’ll always have the money you need when you need it.

Another key to using these two tips in conjunction is not to cheat. Try your very best not to pull money from one fund to place into another fund. But if you must, you must. If you’re married, talk with your spouse about transferring money before you do it. Your monthly predetermined allocation amount will help you spend a minimal amount over time. The cap will help you keep your checking account under control. So if you have to transfer money, that’s okay. Just make sure to do it with wisdom.

Your Thoughts?

Do you already implement these tips in your budgeting? How do these tips differ from what you’re already doing? Meet us in the comments to discuss this and more!

Also check out Personal Finance Summarized in One Sentence

How Did You Do?

Now that Black Friday is over and done with, I ask you: What did you buy this year? Did you purchase more than you expected? What kinds of savings did you encounter? Or, did you remain frugal in the midst of holiday madness? Take stock of your purchases this year and list them on one side of a page. On the other side, write “need” or “want” next to each item. This will give you great insight into your shopping patterns and some areas where you might require work. Beside the needed items, write how much you saved. Was it more or less than you expected? More importantly, was it worth the purchase?

I don’t know about you, but my temptation when something is on sale is to sacrifice my budget to save money on the item. That’s not good. It can be especially tempting to pull money from other categories to satisfy the craving for saving money on an item in another category. While this makes mathematical sense, it certainly breaks a key principle of personal finance: Stick to your budget!

Changes For Next Year

What are a few things you can change next year on Black Friday? That’s a great question. To answer it, you’re ultimately going to have to do two things:

1. Be perfectly honest with yourself about what you need and don’t need. You should look objectively at yourself, not being quick to defend your behavior.
2. Ask someone else to offer an honest opinion of your shopping habits. They’ll see something in you that most likely you can’t see in yourself. A second opinion should always be welcome!

After you have some insight on your personal shopping behaviors, it’s time to make sure you explore all possible money-saving methods. Here are a few:

• Compare at least three retailers. Don’t go for the first money-saving deal you find. By comparing multiple merchants, you’ll find the best deal. Of course, you can always shop debt free with eBillme. You’ll save loads of money by being able to compare products while shopping online!
• Create a need timeline. A need timeline is simply a list items you require and how quickly you need them. For example, if you’re headed off to college in 6 months, you might list a “working computer” as a need during that timeframe. Make a list of all of your needs out to one year. Then, looking at your budgeted amount for Black Friday, and buy those needed items prioritized by date up to your budgeted amount.
• Try out your negotiation skills. Sometimes heading to small businesses bargaining for an even better deal is a great choice. Remember, negotiation is all about not taking the first offer, waiting patiently, flashing the cash, and being willing to walk if needed. Salespeople have deadlines to meet, and they’ll offer you a better deal if you have solid negotiation skills.
• Don’t wander the storefronts. It’s especially easy to get carried away at the mall, where you’re surrounded by storefronts staring you in the face. Avoid what I call leisure shopping.

Get Ready Now For Next Black Friday

Don’t wait. Next year’s Black Friday will be here before you know it. If you like spending money on Black Friday, prepare your budget beforehand. That goes for the holidays too!

What are some of your favorite Black Friday shopping tips? Let us know in the comments!

Think Before You Buy

There’s one general rule of thumb to follow in order to spend less than you make: premeditate and write down your transactions. How much will they cost? How much money do you have? What do you really need? These are all great questions to ask yourself well before you hit the checkout stand.

But remember, it is not enough to simply “know” what you have in your checking account. You must write down what you’re going to spend in a month, and stick to it. Think through all the transactions that you’ll need to do that month, and total them up. Leave a little wiggle room for those unexpected odds and ends, then grab that hammer and chisel it in stone!

You Make How Much?!?!

If you’re not sure how much you make, contact your bank to get statements. Don’t go off of just one month’s worth of income, take an average of the past 3 to 6 months. That’ll give you a good baseline so that you can do the limbo under that amount. If it’s seeming impossible to spend less than that amount, you’re going to have to raise your income. See the eBillme article: Want Extra Money? Try Side Jobs!

Planned Expenses vs. Actual Expenses

Many people when they first start budgeting their income don’t look at their actual expenses. Remember to consider every expense, including charitable giving, saving for college, paying off debt, and building your emergency fund. Figure these expenses into your budget, but it’s not always necessary to include these items in your valuation of your 3 to 6 month emergency fund. Your emergency fund should include those expenses that are necessary.

Again, it helps to look at your historical spending to determine how much you’re actually spending. You’ll be surprised to find a few purchases that perhaps you let slip by. All of these expenses are important in determining if you’re spending less than you make.

Change Those Habits!

It’s not all about the math. If you’re going to spend less than you make, you must put into practice some money-saving tactics. It all boils down to your behavior and staying under control! Truly, sometimes you just have to look yourself in the mirror and say: “Don’t spend money, you!” When you do spend money, spend it smartly. Shop safe with eBillme payment option when you’re buying online. It’s secure and easy to use.

If you’re having difficultly changing your habits, you’re not alone. I know exactly what you’re going through. Pushing myself to do the right thing with my money has not been an easy process. I’m prone to eating out, splurging on quick and easy food. Surely, it wasn’t easy to control my habitual eating out. The only way I was able to break the cycle was to imagine what it would be like to actually have some money! The security, freedom, and better life for my family was worth the sacrifice.

One more time: it’s not all about the math. It’s about changing YOU; changing your future by taking measurable steps. Pretty soon, you’ll be able to spend less than you make, skip the debt interest, and live just a little more freely. Sound good?

Need help figuring out how to actually live debt free? Check out our post What Does ‘Live Debt Free’ Really Mean?

My Debt Free Experience

I have a taste of what it’s like to live debt free. We are currently debt free besides our mortgage – believe me, we long for the day we’re completely free from debt. I can share with you a bit of my experience.

I remember the day we paid off our last non-mortgage debt. It was exhilarating. No more interest payments, one last payment not hanging over our heads. I pictured all the credit collectors waiting to see if we’d miss a payment. Nope! No profit for them! Instead, we paid more month after month until their investment was gone. It feels good. Trust me. You should try it!

But the real results showed up when didn’t have to make such large payments. In other words, we got to keep the money we earned – it wasn’t merely being passed in one hand and out the other. Because we had all this extra money, we could quickly fund our emergency fund and now we’re on track to meet additional goals!

Ultimate Financial Living

Living debt free holds special meaning to me. You can’t know the feeling until you experience it. It’s really the ultimate financial living. But I’ll try to describe what it means to live debt free and what you’ll be able to do below:

• Save money. This is the obvious one. You’ll save so much money on interest, fees, and other miscellaneous charges. Remember, many lenders want you go to into debt. Why? They want to make a profit. They aren’t a financial “services” organization. They are there not to serve you, but to serve themselves. Be a savvy consumer by rejecting debt and living debt free.
• Release the stress. Everyone agrees that stress is bad for you not only psychologically, but also physically. It’ll wear you down in an instant and halt productivity. Simply not having to remember to pay another bill can simplify your life and make managing your finances that much easier.
• Reduce risk. Holding onto debt represents risk – that they might want to collect the debt faster, that the interest rate might change, or that you might not be able to adhere to the payment schedule. Many things can go wrong in a loan.
• Gain negotiation power. Spending cash at small businesses can lead to huge savings when you flash the money. When salespeople have quotas to meet, they’ll be more likely to offer deals to customers they feel have the cash. Don’t be afraid to spend with cash. It’s a medium of exchange that’s been used for centuries!

Security Matters

The eBillme motto is not only to live debt free, however. It’s to shop secure. We all must maintain a certain level of security when we’re entering the marketplace – online or not. We should always be aware where our debit cards are, how we’re making purchases online, and to which merchants we are giving our information. The built-in security feature with eBillme is that you never give out your personal information – a huge safeguard against fraud. Living debt free implies living smart. It’s certainly not enough to spend your money wisely, you must do what you must to protect it.

Hopefully this gives you a little taste of what it means to live debt free. Do everything you can to save money, dump debt, and enjoy a healthier financial future.

For more tips on living debt free check out Personal Finance Summarized in One Sentence

1. Water: drink more of it! No, you shouldn’t starve yourself by drinking water. But instead of buying expensive juices or caffeinated drinks, why not hit the water tap? You’ll save a few dollars and won’t eat unhealthy portions.

2. Wash those hands! Basic sanitation will help you keep medical bills at bay, and you’ll save a lot of lost productivity. Being sick can really weigh you down. Keep up with the hygiene!

3. Carpool. Do you work with someone who lives close to your home? Suggest that you carpool together! You’ll both save money on vehicle maintenance and fuel.

4. Review your cell phone bill. This one is a biggie. Many people don’t have a clue how their cell phone bill breaks down, or if they’re paying for services they don’t really need. If your cellular company is only sending you basic bill information, request a detailed bill. You can usually find detailed bill information online on their website. Take the time to understand everything for which you are paying. Do you really need unlimited calling? How about unlimited data? What extra add-ons are eating up your money? Get rid of those and stick with the basics.

5. Cut down on entertainment services. If you have cable television, consider dropping the service and and replacing it with something that will be more cost effective. For example, at our home we decided to sign up for a low cost Netflix account. Nothing beats paying nine bucks a month for unlimited internet streaming plus DVDs. Another way to fill your time is by reading books and learning something new!

6. Take a sack lunch to work. This isn’t gross, it can be healthy and fun! Visit the grocery store to intentionally shop for those foods that you’ll love to eat at work.

7. Keep a notebook or jot notes on your mobile device. Believe it or not, you can lose a lot of money by simply forgetting new ideas or neglecting your obligations. Anytime you have a thought, get it out of your head and onto paper. Review your notes daily and turn your todos into action.

8. Shop debt free. When you’re out of debt and start paying with cash, you’ll find freedom from high interest payments and the stress that comes along with it. Start by shopping eBillme’s Debt Free Mall and using cash online! You’ll save money and earn cash back rewards – all without the risk of going into more debt. When you’re out and about, use your debit card instead of credit cards – you’ll spend less money when you’re spending your own money.

9. Quit expensive and unhealthy habits. The usual culprits here are alcohol, cigarettes, drugs, and gambling. All of these things can be addictive, so ask a friend to hold you accountable and help you drop the habit. People who engage in addictive behaviors tend to spend much more money than their counterparts. For some of you this might not be “simple,” but it’s surely effective at saving money and worth the effort!

10. Read financial blogs. There’s a lot of great information out there. Sign up for a free Google Reader account and subscribe to blogs like the eBillme Blog or The Christian Dollar. You’ll find loads of information on how to save money and keep your finances in order.

There you have it! These 10 simple ways to save money will surely put some extra cash back in your wallet – and keep it there! What are some ways you save money day to day?

You Spend More With Cards – Less With Envelopes

Think about how easy it is to swipe those credit cards. When you’re spending someone else’s money, it becomes so easy to whip out that card and go into debt. On the other hand, the pain of handing over cash keeps people from spending too much money. When you’ve already worked hard for the money you’ve earned, you’re less likely to spend like a mad man.

The envelope budgeting system requires that you take your discretionary income and put it in envelopes labeled with spending categories. For example, you might have a “food” envelope (while necessary, you have a choice on the foods you purchase), “fun money” envelope, “date money” envelope, and so on. These envelopes should be filled at the beginning of the month with an amount that the family agrees on. Money shouldn’t drift between envelopes mid-month unless it is an emergency-type scenario.

Why Envelopes Work

Budgeting with envelopes can save you money because it is a very visual process. When you run out of money, that’s it! You have nothing left in the envelope so you can’t spend any more! There’s an emotional attachment to paper cash that no credit card can match – especially when all you’re spending is cash.

Living debt free means spending money you already have. Spending cash is one great way to accomplish this. It’s a powerful thing to experience debt free shopping. It’s a feeling of freedom that can be felt only once you’ve begun to change the way you handle your finances.

What About Online Purchases?

One problem I’ve run into when using the envelope budgeting system is spending cash online. This is where eBillme comes in! With eBillme, you can shop online at over 800 online merchants, and pay cash using online banking or at a walk-in location! The great thing about using eBillme is that you can rest assured your transaction is protected against fraud. Not only does your bank protect you, eBillme offers additional buyer protection, including a satisfaction guarantee and low price guarantee.

How To Create A Solid Budget

The envelope system is a part of a larger budgeting process. You can use your envelopes in conjunction with checking withdrawals to fund all the areas of your budget. See the previous eBillme article: How To Create A Solid Budget. You’ll learn how to analyze your spending habits and how to effectively use your income as your greatest wealth-building tool.

When you’re creating your envelope system budget, you may wonder if you should roll over any envelope balances left unused. This is completely up to you. Some people take the extra money and throw it at their area of focus (such as building their emergency fund, eliminating debt, or investing for retirement). Others keep the money in the envelope for use during the next month. Rolling the balance over can provide a great incentive to save more money, and that is what we personally do in our household. But again, weigh the pros and cons and decide for yourself!

By using the envelope budgeting system, you’ll effectively save money and help prevent identity theft by not using credit cards. It’s worth the extra effort to use envelopes. Give it a shot and let us know what you think!

The Art Of Staying On Task

At our jobs, a number of things can distract us from the task at hand. Whether it’s email popping up on your phone, cubicle neighbors begging you to join them in watching the latest YouTube video, or a bright sunny day that begs your attention, it’s difficult to not think about more play and less work! I’m convinced that staying on task is an art – it’s a degree of discipline that gets especially difficult when we have to manage ourselves.

Trust me, I’m no expert in this area. I struggle with holding to one task just as much as some of you. However, I’ve learned a few tips that have helped me focus on those things that deserve my attention. Here they are in no particular order:

• Organize and clean! One of the most distracting things is a cluttered and unorganized workspace. I know that if I have a million sticky notes, a handful of bills, and a few randomly placed objects on my desk my productivity drops. A clean, intentionally-designed workspace helps cut down on the noisy distractions. I highly recommend the book Getting Things Done by David Allen. You’ll learn how to collect all your information and sort it through the GTD process.
• Free your mind from tasks. This is another David Allen concept. The problem with getting most things done is that we are usually thinking of all the other things we have yet to do. This is a mental distraction that can’t merely be solved by a clean workspace. By writing down all your tasks, you’ll free yourself to focus on your current project.
• Remember the consequence of your work. Now, I don’t mean a negative consequence! I mean a beneficial consequence! If you’re working to meet your financial goals, soak in what it’ll feel like when you pay off that last credit card, throw that last dollar into your emergency fund, or buy your next car with cash! It is this hope that keeps us going.

Do Your Best Work In Less Time

Many of you know I run a blog over at TheChristianDollar.com. It’s not always easy keeping up with articles, comments, advertisements, and social networking. It’s a full time job! But what I’ve learned during my time as a blogger is to focus on what works, and throw out all the minor distractions that don’t produce results. This concept can be used in any business.

Sit down and write out a list of everything you do at your job. Now, what things are the most important and what things can be tossed out the window? I’m not talking about merely prioritizing your work, I’m talking about eliminating the projects that don’t really matter.

What you’ll find is that over time you’ll be able to sift through the things that help your business and those that don’t. You’ll be able to do your best work in less time. The value of that is incalculable.

Productivity Matters

It’s easy to lean back and convince ourselves that we have no room for improvement. But if we’re going to be financial warriors, those who live debt free and work harder than anyone else, we must find those areas where we’re slacking. Productivity truly matters.

What are some ways you keep yourself productive? What are some of the things that distract you? Let us know!

Photo From: http://www.sxc.hu/photo/1237883