Nordstrom is having their Half Yearly Sale going on right now through June 5th. The sale is up to 40% off including the best designer brands. I have browsed through the sale to find good deals and I wanted to post some of my favorite finds to share with you all or just to provide some fashion inspiration for the summer. I mean…who doesn’t love a good sale? I have actually been surprised with how quickly things are selling out so if you find something that you love, go ahead and purchase it before it’s too late like N.O.W. because things are selling out like hot cakes! Here are some of my favorites below:Read More »
This post is a little different from most because I want to go into depth on simple rules to live more frugally. Also, I wanted to talk about items that I splurge on vs. items that I prefer to save on. I give this advice to people all of the time “Live within your means.” It seems like a simple concept but in reality it is much harder to live by. That is what makes Dave Ramsey so famous, right? Sometimes we don’t really understand the difference between needs and wants. I wanted to share some rules that I use to live more frugally!
Know how much money you have coming in vs. your expenses. This is the ultimate key to budgeting! I create a spreadsheet on a monthly basis in an effort to detail this out. You will need to know this information in an effort to be successful at budgeting and saving. For me personally… I have 3 main accounts. One is titled for Bills- this account is for all of the household bills and expenses. The second account is a savings account- This account is “Rainy Day Funds.” Life is unpredictable and expenses will sneak up on you that you wouldn’t normally anticipate. I recommend, if at all possible, to have a savings account in case there is an emergency or if something happens that you wouldn’t of anticipated to happen ever. My last account that I have is for “Entertainment/ Shopping/ Whatever else.” We all work hard and we deserve to have “Play Money” to do the things that we enjoy. Don’t ever get too busy making a living that you forget to make a life!
Live within your means! I know.. I know- This sounds a lot easier than it actually is. I’ve been guilty of this at times. Don’t buy things to make you feel better! My rule of thumb is if it’s not an investment, don’t ever put anything on a credit card that you can’t pay off before you start incurring interest. Interest is what will get you….every.single.time! Please do yourself a favor and say no to store credit cards. The discounts that you receive aren’t always as glamorous as they appear. When it comes to credit cards, keep it as simple as possible. I only have one credit card so I get that I am probably a little over the top when it comes to money but the less you have, the better off you’ll be. It all reverts back to living within your means. It’s something that we all have to work on day in and day out. It doesn’t matter how much money you have, this concept applies to everyone.
Understanding the difference between spending and investing. Spending is where you exchange money for something that depreciates in value and is not long-term. For example, my $300 Tory Burch handbag will only be worth $50 or less in a few years. It depreciates the moment I exchange money for it. Spending is essential to life and it makes the world go around! It is just important to understand the difference. Investing is where you exchange money for a tangible asset. For example -a house! Understanding the difference between the two is an important concept.
Avoid Credit Card Debt. Credit Cards are marketed to be glamorous. Buy now, Pay later! Hmmmm…however, if you can’t pay your credit card bills before the interest starts accumulating, it is very hard to ever get out ahead. If you are or ever become in debt over your head because of credit cards, do not avoid them. The best thing to do is to call the credit card company and explain to them why you’ve fallen behind on payments. They work hard to keep customers and they might be able to work with you in an attempt to lower the interest rate, adjust the amount due/ late fees, and ect. Set goals to payoff this debt. Understand that it doesn’t happen overnight but overtime you can payoff this debt and you’ll be one step closer to financial freedom. I don’t recommend cancelling your credit cards. Once they are paid off, simply just shred the credit card and wipe your hands clean with a smile on your face knowing that you are free of credit card debt.
Retirement! If you are actively working, please participate in your Employer’s 401(k) Retirement Plan. Let’s be honest….chances are if you don’t put this money to the side now, you won’t have it later. I promise you that your future self will thank you for this later on in life. Your employer will match up to a certain %. You will reap all of the benefits to this as you approach retirement age.
Buy for Quality. Being frugal isn’t about buying the cheapest products. It means seeking out the best value. There are items that I splurge on and items that I save on. It all has to do with quality. Quality > Quantity! Some items that I splurge on are Perfume- this is your signature scent. They also last for quite a while. My favorite perfumes are shown below: Other items that I splurge on are handbags. The better the quality, the longer they last. Also, a great bag will elevate even the most basic outfit. Currently, my favorite handbag is this Tory Burch ” York” Buckle Tote. Vacations are also one of the things that I am always willing to splurge on. I try to save money from every paycheck over a period of time so that I can splurge on a vacation. Vacations aren’t made to be cheap because typically you get what you pay for when it comes to “vacationing.” Vacations are where you go to create new memories and enjoy a break from every day life. Save money over a period of time and enjoy it! You deserve a nice vacation! Treat yo’ self!
Items that I save on are Denim Jeans because the denim trends change with the wind. I also save on trendy items because they are only trendy for a moment of time. I always love a good pair of denim jeans and the latest trendy items but I won’t typically splurge on them. Find items that you like to splurge on and items that you are willing to compromise and save on. It’s all about finding a healthy balance. 🙂
Happy Fri-Yay! Have a great weekend!