Your Paycheck

I remember the day my sister brought home her first paycheck. It was not a check. It was cold hard cash in a tan bank envelope. On the outside listed her gross pay and all of the deductions taken. She proudly poured the contents of the envelope out on the table. I was stunned at how much was there, but then again I was about 8 at the time. Sis proceeded to take a few dollars out for her wallet and the rest went in her little Lane Hope Chest that she kept on her shelf. It was nestled there with the cash she earned from babysitting. My sister has always been a wonderful saver. She learned early to pay herself first.

I fast forward to an evening before Thanksgiving 2009. My son arrives home with a debit card. It holds his paycheck. Somewhere in his email is the pay stub listing the gross pay and deductions. There was no ability to place a few dollars in his wallet and put the rest in savings. There is not box on his shelf carefully crafted in Scouts that holds cash from lawn mowing. All of his earned money has been given to him in the form of plastic or checks. Money does not have the same impact on him as it does on me.

I have never liked paying for little things with a piece of plastic and it is way too much bother to write a check for a cup of coffee. I have cash in my wallet, not a lot, but I helps me keep track of the fact that I am spending it on little things. If it is the day before payday I am not spending my last $10 on lunch. I am shopping from my fridge and finding lunch there.

Cash has value if only to show you what you have. How long did it take you to earn the money to buy the Latte you had this morning...more time than it took you to drink it? We tend to only get sensitive to that when making big purchases, the 30% decrease in value when you drive your newly purchased car off the lot, for instance. You need to be alert to it in other areas as well. If it takes you two gallons of gas to commute to and from a minimum wage job, that just spent the first half hour of labor on the job.

Twelve or sixty easy payments does not decrease the cost of the item. You already know that it increases it with interest payments. Another $50 a month out of pocket may not seem like much until you have a number of those easy payments. Consider saving for the purchase. There may be several ways that it becomes less cash out of your pocket. As an older model the item may be marked down and there are no interest payments on it when you wait to buy it with cash. Then again, you may decide not to buy the item at all.

Use your paycheck as a ruler to measure not just your needs but your wants.

Procrastination Can Be Expensive

I often wonder why it seems that doing anything but the priorities on my list, look like more inviting tasks. It creates all sorts of problems.

The forgotten birthday card to your mother-in -law will involve a lot of Tylenol.

Deciding not to go to the store on Monday when it is sunny, will either get you wet in Tuesday's rain or the grapes will cost a dollar more a pound on Wednesday.

You might as well pick up the poster boards now because it will be a Sunday evening when your child needs one for the term project, due Monday, that he remembered 10 minutes ago.

All of us know that that the meal still in the freezer as dinner time approaches creates a problem. Microwave thawed chicken parts are not as tasty and that hamburg is going to need a lot of coaxing to become patties. Once in a while you can get away with pulling out a jar of spaghetti sauce and with salad fixings the family might think you planned it. How often is it tempting to just hit the drive thru or holler out for pizza? The lesson: timely defrosting.

Now for fifteen more things that will cost you money if you postpone doing them.
1. Returning rental movies or library books late.
2. Paying a bill late.
3. Store bought cupcakes are more expensive than home made ones.
4. Fixing the car's oil leak now and not replacing the engine later.
5. Keep a filled water bottle with you rather than buy a fountain drink when you are out.
6. Packing your lunch will save you later in the day.
7. Book as hotel as soon as you know you need one, gives you more choices and maybe less expensive.
8. Set the coffee pot up before you go to bed, then you can take it with you rather than wait in line for a more expensive one.
9. Wear you new shoes around the house on the carpet to be sure they feel good, if not no scuffs on the soles makes for a much easier return.
10. Before hitting the new book store, check out a used book store. Go with a list of what you want.
11. Check batteries in flashlights and radios often for charge and corrosion.
12. Start you seedlings for your garden. $3 of seeds will give you a lot more plants than you can buy for that later.
13. Check your tires. Proper inflation gives better gas mileage.
14. Buy extra 'Forever' postage stamps now before the rates go up this Spring.
15. Admit it, you are now eligible for senior citizens discounts, use that to your advantage.

Being Prepared can reduce your stress and maybe save you a little money.