This one really should be a no-brainer, but I'm throwing it in anyway. That once a week, $30 - $50 splurge you have at the local eatery could be CUT. Sure, you need to buy groceries to make a meal, but I can guarantee that restaurants are NOT staying in business by charging you exactly what it costs to make the meal.
My FAVORITE food to eat out is Tex-Mex. LOVE IT! But it is really expensive, not to mention really mean to the waist-line, especially when you're not in control of how the food is prepared.
I LOVE this restaurant that makes these AWESOME cheese burritos. Beans, cheese, sour cream, and a flour tortilla, with just a bit of tomatillo sauce. SOOO good. I practiced and learned to make this same meal at home. I was paying $8.99 plus tax and tip, rounded out to about $12.00. By making my own beans, my own flour tortilla, and purchasing the sour cream, a can of tomatillo sauce and cheese (not using all of these ingredients on one burrito), I made the same cheese burrito for about $1.50, as an overestimate.
For three of us to eat the same burrito out, we pay $36.
At home, $5.
Truly, we LOVE to eat out, though. So instead of cutting this out altogether, we just cut back. Instead of going out every weekend, I learned to make some of this yummy stuff at home, and now we have a once a month splurge of eating out together as a family.
And don't even get me started out HOW MUCH YOU NEED TO RETHINK EATING FAST FOOD. Fast food = fast death. 'Nuff said.
For my family, we'll go on the lower end of the $30-$50 estimate. We were spending $30 once per week and cut that down to once per month. We went from $120 to $30 on eating out. Since all months aren't created equally with varying numbers of weeks, we'll look at this differently. We were spending $1,560 eat out per year ($30 X 52 weeks). Now, we're spending $360 ($30 X 12 months). That's a $1,200 difference, divided by 12 months, an average of $100 per month saved. In my house, that's an entire weeks worth of groceries!
Hey - a little side note: If you're spending $1,560 eating out per year, you're spending $15,600 in ten years. By the time your child is old enough to go to college, you've eaten through the entire college fund, at $28,080 in 18 years. Sorry, little guy, you can't go to college because we ate out every week.
But in all fairness, you do have to replace that meal with groceries. So, then let's say that you are paying a 66.6% mark up on the meal. For a $30 meal out, you would only need about $10 to eat that meal at home. So, you're still saving $70 per month from the $100 per month calculation from above.
Where are we now with monthly savings?
Tip#1 - Dish Towels $5 per month
Tip#2 - Dump Cable $92 per month
Tip#3 - Homemade Goodness $24 per month
Tip#4 - Esurance.com $139
Tip#5 - Eat at home $70
Total per month: $330
Total per year: $3,960
I have actually used recipes from these books. Good stuff!!!
Monday, March 7, 2011
Money Saving Tip #4: Esurance.com
I'm a teacher. For now. We'll see if I "make the cut" in the coming years.
As a teacher, I currently have OK health insurance. It's actually good for me as the employee, but to add my husband and daughter onto the policy was too expensive. So, I shopped around.
For the two of them, I went with Blue Cross Blue Shield of Texas. I found the policy quote on Esurance.com. It was incredibly easy to navigate. Basically, what I did was calculate out the worst case scenario for a year (isn't that WHY we have health insurance to begin with?) to see which one will be the most cost effective over a twelve-month, deductible period.
My work insurance worked out like this:
On the LOWEST plan, I would be paying $650 a month for myself, my husband, and my child: this equals $7,800 a year.
On the two BCBS plans I have my husband and child on, and the "middle" plan I have myself on (I'm still of child-bearing age and need the maternity coverage just in case), I pay $236 a month: this equals $2832.
A HUGE savings. If you are only looking at premiums as your bottom line, you're saving $414 for a family of three based upon these numbers. You'd have to calculate your own: you may have MUCH better, or sadly, much WORSE health insurance via your employer.
But of course, we know health insurance companies, and we know it doesn't end there.
On the work insurance, we have to meet the family deductible of $2,400 a year before they'll pay for anything. So, now worst case scenario, we're up to $10,200 per year. After that, we'd pay 90% of the bill, with a family out-of-pocket of $5,800 not including the premiums or deductible. So, that would be a total of $16,000 per year.
On the plans I've pieced together by shopping via Esurance.com, my husband has a $5,000 deductible with 100% coverage afterward. The out-of-pocket is $5,000 INCLUDING the deductible, so basically no more than $5,000. My daughter has a $1,200 deductible with 90% coverage, with a $3,000 out-of-pocket including the deductible. And I have a $500 deductible with $3,000 out-of-pocket excluding the deductible. This is $11,500. With the premiums, we're at $14,332.
That is a $1668 savings for the year. Either way, health insurance is a total rip off, but at least know that many of us DO have options! Just because your employer is offering it out doesn't mean that is the BEST deal around.
I suggest creating a chart when comparing the plans. Look at the monthly premium, the deductible, and the out-of-pocket (don't forget to calculate whether or not the out-of-pocket includes or excludes the deductible and any co-pays). Then, work out how much each plan would cost if you had $500 worth of medical bills that year, $5,000 that year, and even $10,000 that year. I've always done this and have narrowed my choices this way. Sometimes what seems crazy - like having a $5,000 deductible, actually would end up being cheaper in the worst case scenario.
Here's a really easy to read page defining the common health insurance terms:
Where are we now with monthly savings?
Tip#1 - Dish Towels $5 per month
Tip#2 - Dump Cable $92 per month
Tip#3 - Homemade Goodness $24 per month
Tip#4 - Esurance.com $139
Total per month: $260
Total per year: $3,120
I haven't read any of these books: I just used my own math skills (hopefully without error) and researched things via the internet. However, you may benefit from viewing them, so why not give it a try! I say the more we know, the better choices we can make.
As a teacher, I currently have OK health insurance. It's actually good for me as the employee, but to add my husband and daughter onto the policy was too expensive. So, I shopped around.
For the two of them, I went with Blue Cross Blue Shield of Texas. I found the policy quote on Esurance.com. It was incredibly easy to navigate. Basically, what I did was calculate out the worst case scenario for a year (isn't that WHY we have health insurance to begin with?) to see which one will be the most cost effective over a twelve-month, deductible period.
My work insurance worked out like this:
On the LOWEST plan, I would be paying $650 a month for myself, my husband, and my child: this equals $7,800 a year.
On the two BCBS plans I have my husband and child on, and the "middle" plan I have myself on (I'm still of child-bearing age and need the maternity coverage just in case), I pay $236 a month: this equals $2832.
A HUGE savings. If you are only looking at premiums as your bottom line, you're saving $414 for a family of three based upon these numbers. You'd have to calculate your own: you may have MUCH better, or sadly, much WORSE health insurance via your employer.
But of course, we know health insurance companies, and we know it doesn't end there.
On the work insurance, we have to meet the family deductible of $2,400 a year before they'll pay for anything. So, now worst case scenario, we're up to $10,200 per year. After that, we'd pay 90% of the bill, with a family out-of-pocket of $5,800 not including the premiums or deductible. So, that would be a total of $16,000 per year.
On the plans I've pieced together by shopping via Esurance.com, my husband has a $5,000 deductible with 100% coverage afterward. The out-of-pocket is $5,000 INCLUDING the deductible, so basically no more than $5,000. My daughter has a $1,200 deductible with 90% coverage, with a $3,000 out-of-pocket including the deductible. And I have a $500 deductible with $3,000 out-of-pocket excluding the deductible. This is $11,500. With the premiums, we're at $14,332.
That is a $1668 savings for the year. Either way, health insurance is a total rip off, but at least know that many of us DO have options! Just because your employer is offering it out doesn't mean that is the BEST deal around.
I suggest creating a chart when comparing the plans. Look at the monthly premium, the deductible, and the out-of-pocket (don't forget to calculate whether or not the out-of-pocket includes or excludes the deductible and any co-pays). Then, work out how much each plan would cost if you had $500 worth of medical bills that year, $5,000 that year, and even $10,000 that year. I've always done this and have narrowed my choices this way. Sometimes what seems crazy - like having a $5,000 deductible, actually would end up being cheaper in the worst case scenario.
Here's a really easy to read page defining the common health insurance terms:
Where are we now with monthly savings?
Tip#1 - Dish Towels $5 per month
Tip#2 - Dump Cable $92 per month
Tip#3 - Homemade Goodness $24 per month
Tip#4 - Esurance.com $139
Total per month: $260
Total per year: $3,120
I haven't read any of these books: I just used my own math skills (hopefully without error) and researched things via the internet. However, you may benefit from viewing them, so why not give it a try! I say the more we know, the better choices we can make.
Tuesday, March 1, 2011
Money saving tip #3: Homemade Goodness!
Americans spend WAY TOO MUCH MONEY on groceries. Yes, there are coupon clippings and what-not that you can do. But there is also another way to save money. Cook. Cook it all yourself. From scratch. Stop buying boxed foods for convenience.
My general rule nowadays is that I no longer buy store bought cookies, flour tortillas, English Muffins, ravioli, among other things. Let's begin with flour tortillas.
I like to feed my child whole wheat whenever I can, and buying whole wheat flour tortillas costs roughly $3.50 for ten tortillas. That's 35 cents per tortilla. Let's look at a common recipe for flour tortillas:
2 cups flour
1 teaspoon salt
3 tbsp vegetable shortening (I use Butter Crisco, and I add just a TAD more)
3/4 cup warm water.
For wheat tortillas, I use 1 cup whole wheat flour and 1 cup all-purpose flour. I get about 8 flour tortillas out of this recipe.
2 cups of flour (even Whole Wheat) costs about 25 cents
1 teaspoon salt costs under a penny
3 tbsp vegetable shortening costs about 5 cents - maybe
3/4 cup warm water - mostly free, just be sure to pay your water bill.
So, for eight flour tortillas, I'm paying LESS THAN the cost of one tortilla from the store.
And if you have a food processor, you can easily make the dough in the processor. I got one as a wedding gift, so I didn't have to buy one. I wouldn't go out and buy one for this, though. Making the dough by hand is still pretty easy. You mix it until it forms a ball. Then, you divide it into 8 balls and let it rest. Flatten it with a rolling pin, and cook on a griddle or a skillet. Easy and WAY tastier than store bought!
Savings if I fed my family eight flour tortillas per week each year:
Store bought: $2.80 for 8 for 52 weeks: $145.60
Homemade: 30 cents for 8 for 52 weeks: $15.00
Savings: $130
Ravioli Dough - adapted from Giada De Laurentiis (I LOVE HER!!! Her recipes ROCK!)
2 1/2 cups of flour (I replace 1 cup of flour with 1 cup of Whole Wheat flour)
1 cup HOT water (I heat mine for about a minute in the microwave)
Mix together with a wooden spoon until it forms a a dough. Cover and let it rest. Then, put together whatever filling you want to use. I like traditional part-skim ricotta, Parmesan cheese, Romano Cheese, egg, and spices. I often add spinach to it, too. Really, any filling works.
Roll out the dough. Get one of those ravioli presses from somewhere like Sur La Table or Amazon.com, as they make your life SO MUCH easier on ravioli night. I paid $5.00 for mine at Sur la Table. I use it to lightly press where I will be making the ravioli, just as a guide. Then, I spoon on the filling, but another sheet of ravioli on top, and press away.
I was paying $10 for a bag of ravioli - with additives, etc. once a month. Now, I pay around $4 for the same amount. Just the ravioli dough alone is ONLY 25 cents! The filling can be as cheap or expensive as you want. Another hint: after Thanksgiving, use leftover turkey. YUM!!!!
Store Bought: $10 a month = $120 a year
Homemade: $4 a month = $48 a year
Savings: $72
English Muffins
My husband bought English Muffin rings for me for Christmas. And I use them OFTEN.
I use Alton Brown's recipe, as it is the best one I've found. It's easy, and it makes the muffins with little pockets. YUM!!!!
Here's a link:
http://www.foodnetwork.com/recipes/alton-brown/english-muffins-recipe/index.html
I only replace 1/2 cup of flour with Whole Wheat flour here: otherwise, the muffins turn out weird - very thick and bread-like, as opposed to light and airy, as an English Muffin should be. I use a skillet, not a griddle. The most expensive part of the homemade version is the dry milk at $10 a box. A box, though, lasts for almost a year. Really, that's not too bad.
Store bought English Muffins (if I bought them once per week): $2.50 at 52 weeks = $130
Homemade: about 75 cents at 52 weeks = $39
Savings: $91
The total savings JUST for these three homemade items is $293 per year. JUST for these. This is just to give you an idea of how much money you can save by making things yourself.
Where are we now with monthly savings?
Tip#1 - Dish Towels $5 per month
Tip#2 - Dump Cable $92 per month
Tip#3 - Homemade Goodness $24 per month
Total per month: $121
Total per year: $1452
My general rule nowadays is that I no longer buy store bought cookies, flour tortillas, English Muffins, ravioli, among other things. Let's begin with flour tortillas.
I like to feed my child whole wheat whenever I can, and buying whole wheat flour tortillas costs roughly $3.50 for ten tortillas. That's 35 cents per tortilla. Let's look at a common recipe for flour tortillas:
2 cups flour
1 teaspoon salt
3 tbsp vegetable shortening (I use Butter Crisco, and I add just a TAD more)
3/4 cup warm water.
For wheat tortillas, I use 1 cup whole wheat flour and 1 cup all-purpose flour. I get about 8 flour tortillas out of this recipe.
2 cups of flour (even Whole Wheat) costs about 25 cents
1 teaspoon salt costs under a penny
3 tbsp vegetable shortening costs about 5 cents - maybe
3/4 cup warm water - mostly free, just be sure to pay your water bill.
So, for eight flour tortillas, I'm paying LESS THAN the cost of one tortilla from the store.
And if you have a food processor, you can easily make the dough in the processor. I got one as a wedding gift, so I didn't have to buy one. I wouldn't go out and buy one for this, though. Making the dough by hand is still pretty easy. You mix it until it forms a ball. Then, you divide it into 8 balls and let it rest. Flatten it with a rolling pin, and cook on a griddle or a skillet. Easy and WAY tastier than store bought!
Savings if I fed my family eight flour tortillas per week each year:
Store bought: $2.80 for 8 for 52 weeks: $145.60
Homemade: 30 cents for 8 for 52 weeks: $15.00
Savings: $130
Ravioli Dough - adapted from Giada De Laurentiis (I LOVE HER!!! Her recipes ROCK!)
2 1/2 cups of flour (I replace 1 cup of flour with 1 cup of Whole Wheat flour)
1 cup HOT water (I heat mine for about a minute in the microwave)
Mix together with a wooden spoon until it forms a a dough. Cover and let it rest. Then, put together whatever filling you want to use. I like traditional part-skim ricotta, Parmesan cheese, Romano Cheese, egg, and spices. I often add spinach to it, too. Really, any filling works.
Roll out the dough. Get one of those ravioli presses from somewhere like Sur La Table or Amazon.com, as they make your life SO MUCH easier on ravioli night. I paid $5.00 for mine at Sur la Table. I use it to lightly press where I will be making the ravioli, just as a guide. Then, I spoon on the filling, but another sheet of ravioli on top, and press away.
I was paying $10 for a bag of ravioli - with additives, etc. once a month. Now, I pay around $4 for the same amount. Just the ravioli dough alone is ONLY 25 cents! The filling can be as cheap or expensive as you want. Another hint: after Thanksgiving, use leftover turkey. YUM!!!!
Store Bought: $10 a month = $120 a year
Homemade: $4 a month = $48 a year
Savings: $72
English Muffins
My husband bought English Muffin rings for me for Christmas. And I use them OFTEN.
I use Alton Brown's recipe, as it is the best one I've found. It's easy, and it makes the muffins with little pockets. YUM!!!!
Here's a link:
http://www.foodnetwork.com/recipes/alton-brown/english-muffins-recipe/index.html
I only replace 1/2 cup of flour with Whole Wheat flour here: otherwise, the muffins turn out weird - very thick and bread-like, as opposed to light and airy, as an English Muffin should be. I use a skillet, not a griddle. The most expensive part of the homemade version is the dry milk at $10 a box. A box, though, lasts for almost a year. Really, that's not too bad.
Store bought English Muffins (if I bought them once per week): $2.50 at 52 weeks = $130
Homemade: about 75 cents at 52 weeks = $39
Savings: $91
The total savings JUST for these three homemade items is $293 per year. JUST for these. This is just to give you an idea of how much money you can save by making things yourself.
Where are we now with monthly savings?
Tip#1 - Dish Towels $5 per month
Tip#2 - Dump Cable $92 per month
Tip#3 - Homemade Goodness $24 per month
Total per month: $121
Total per year: $1452
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