Category Archives: Financial Independence

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Minimalist Money Hack: Cash Envelope System

A couple of years ago when I started getting serious about money, I read a few personal finance books. One of my favorites was The Total Money Makeover by Dave Ramsey. He had some very basic ideas about money that I agreed with, and I have tried to follow his baby steps to become financially secure.

One of the things that Dave talks about that made a lot of sense to me was paying for things with cash. Specifically, he advocates for an envelope system, with each envelope for a different budget item: food, transportation, haircuts, kids clothes, etc. You put cash in the envelopes on payday, and when you’re spending the money, it’s gone when it’s gone. It’s an easy budgeting hack, and it mitigates the need for credit cards.

I’ve been doing this sort of half heartedly, and it never really worked for me. (Surprise.) But yesterday, I got motivated to finally put together a serious envelope system that would be easy to use, easy to carry, and keep me on track with my budget and financial goals.

So what you’ve been waiting for, pictures of my brand new, fancy schmancy envelope system:

I am so happy with how it turned out! I printed out these templates onto plain white cardstock, folded and taped them into envelopes, and then bound them with a machine at work. (The labels are from the same link as the envelope template. Super helpful!)

I only have a few categories, but now I can keep them straight. It’s so much easier than trying to remember why I was saving that random $20 in my wallet!

It’s thin too so it doesn’t take up a lot of room in my bag. Win/win/win!

Do you have any easy tips or tricks for staying on budget? Do you use a cash-based system? Share! :)

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Bikers Are Awesome

The writer from My Roman Apartment recently shared this link to some awesome infographics about how biking is going to save the world.

If you love an infographic, check it out – you will be surprised. I certainly was!

I am inspired to become more involved with my local bike advisory council, which is working to improve our town’s  Bike Friendliness rating (from bronze to silver). And I need to spend some time this winter with my project bike. I want to put some miles on it this spring!

Ultimately, my goal is to be car free. I will get there, but it’s definitely going to take some major adjustments in my lifestyle. But I can see the results of changes I have already implemented (ie commuting via bus to work) are moving me towards achieving my goal.

Any one else striving to be car free or car lite? Share with me what changes you’ve made to achieve that goal. :)

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Holiday Cheer

The holidays are coming.  (Technically, Hanukkah ended yesterday!)  

Are you ready??

This year I was planning ahead.  I actually started knitting presents in July.  I made menus, grocery lists, present lists, budgets, etc.  Now that Christmas is two weeks away (Yikes!!), I generally feel prepared [although I haven't really started decorating yet]. 

I am using the plan from the FlyLady.  She pretends that she is going on vacation – a cruise – and needs to have everything ready for the holidays by December 1st.  And she helps her readers “cruise” right along with her.

Because of her system, I have put together a decorating station (so all of my wrapping paper, bows, ribbon, cards, etc. are in one place), I have made lists of presents to buy and make, I have reviewed my notes and recipes from our Christmas Eve party from last year in preparation for this year’s festivities, and I have bought all of the non-perishable food that I need for cooking and baking.  She has a small task for every day, and they definitely add up over time – kind of like a cleaning & organizing advent calendar.  I highly recommend her website to anyone who is scatter-brained, cluttered, and unorganized like me.  Although I didn’t finish EVERYTHING by December 1, I am already having a much calmer, less stressful holiday season because of her plan. 

One of her major themes is to give clutter-free gifts (she has lists of them on her website), because so many of us already own too much Stuff.  Since I planned ahead, I was able to make many of the gifts on my list.  For example, I am knitting a scarf for my father-in-law for when he has to shovel the driveway.  I built my mother-in-law a bird house because she loves birds and gardening and will hopefully enjoy it all summer long while she’s working in her garden.  My budget was $10 per person, and I was able to come in under budget on many of the gifts by making things using supplies I already had on hand, such as a scrappy, quilted stocking for my niece. 

This holiday organization plan was especially helpful since we visited my family in Wisconsin over Thanksgiving.  I finished their gifts and brought them with us so I didn’t have to ship them.  Plus bringing things in my suitcases to leave in Wisconsin made room to bring back some of my Stuff from my parents’ basement.  Which is perhaps the best (clutter-free!) gift of all, as far as they are concerned.

So, to anyone who may be reading this, what are you doing to get ready for the holidays?

P.S.  I also love this article by Leo Babauta about what’s important at Christmas time(ie spending time with people you love) and what’s not important (ie shopping). 

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Show & Tell 12/9/2010

I have been scheming about the best way to show off all of the stuff that I make.  Rather than just slap my stuff up here, I thought we could all share the things that we have created.  So here it is – my first ever weekly Show & Tell.

I decided to make my 10-month old niece a quilted Christmas stocking.  I hope it will become a treasured keepsake for her, knowing that her loving aunt toiled tirelessly to make it beautiful and amazing.  But who knows.  Regardless, I had fun making it.

Here is the tutorial that I followed.  I was smitten the moment that I saw it.  Luckily I had some scraps on hand and was able to beg, borrow, and steal enough the finish the mini-quilt for the front.  In the end, I only had to pay for fabric for the back.  All in, it cost me $2.75.

Here’s what the mini-quilt looked like before I cut it:  (BTW those were 1.5″ inch squares sewn together – so finished size = 1″ each.  PITA!  But totally worth it.)

Unfortunately, I didn’t get a picture of it before I gave it to my niece, but I will try to get my lovely SIL to snag a photo for me.  I will let you guys know when this post gets updated.

So what have you guys been creating lately?  Any beautiful gifts for loved ones?  Or party gear for yourself?  Written anything amazing?  Knitting anything warm for the long winter ahead?  Please include your links in the comments!

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A beginning: Project 333

Let me whine for a second:

Starting a minimalist lifestyle is hard.

As much as I would like to get rid of half my stuff, I need more direction.  Sure, I’ve started to throw away and donate a lot of my un-used and un-loved posessions.  I try really hard not to buy any junk. 

But how do you start a minimalist lifestyle?

For me, the first breakthrough came when I found Project 333 on Be More with Less.  The challenge is for participants to wear 33 items of clothing for 3 months – October 1 to December 31.  (This doesn’t include workout clothes or pajamas.)  Previously, I had gotten rid of many items of clothing.  How much harder would it be to streamline it down to 33 items?

Pretty easy actually.  Many of my clothes are similar colors (black, grey, purple/orchid), so I know that they coordinate well.  I picked items that would mix and match  easily so I would have lots of options.  Everything else is boxed up in my closet, awaiting review in January when they will either be re-instated into my wardrobe or donated.

How has it been?

1)  Every day I wear clothes that I love.  When you’ve only got 33 pieces, you pick the ones you love.  Why wouldn’t you?  I love getting dressed and wearing my clothes.  And I have received a lot more compliments than before.

2)  This is definitely “enough” clothes for me.  I look forward to January when I can edit my collection (and add a few different pieces), but I am planning on sticking to this number.  I love having many options, but it’s also nice to know exactly where every piece of clothing is, where its “spot” is in my closet, and remember when I wore it last.

3)  I am saving time and $$$ by not buying.  I never realized how much energy I put into shopping until I stopped doing it.  I have been able to get many more things done in my life when I have an extra 3-4 hours per week to work on other projects.  I don’t clearly remember if I would shop that much each weekend, but I was definitely getting to the stores at least 2-3 times per month.  And trying to figure out the best product, the best sales, the best time to beat the crowds, etc.  What a lot of pressure! 

4)  I have been able to evaluate what I have and what I would like to have going forward.  Call it refinement, I guess, but since I know exactly what I have already, I have been able to consider (for 2.5 months now) what new items would really enhance and improve what I have.  In January, I will probably keep the dresses that I have, but I would like to find a better quality pair of jeans and maybe a new (to me) suit for work.

However:

5)  I am actually wearing out my clothes!  When was the last time you wore something until it literally fell apart?  I think I began noticing this about a month ago when I realized that the elbows of my black blazer were worn through.  Not torn – the fabric was actually worn through.  Then I noticed that the buttons were coming off of my coat.  And then my flats stopped keeping water out.  I felt frustrated because I think that clothes should be able to handle whatever wear and tear they are put through at my cubicle job.  But then I realized that maybe I am honestly wearing them that much.

(I am planning to patch the elbows of the blazer with some cute/hipster patches.  I have already sewn new buttons on the jacket.  The shoes will have to be replaced.)

The great thing about this project is that it is teaching me so many of the benefits and rewards of minimalism.  My goal is to apply these same principles to other parts of my life and see if they will have the same result.  It might be slightly more difficult to apply to other things in my life (ie my kitchen or my crafting closet), but I am willing to give it a shot. 

I would love to hear what you guys have done to begin the process of minimizing.  Any insights for those of us just starting out?

Without further ado, The List*:
1.    Black dress
2.    Orchid floral dress
3.    Purple dress
4.    Red modern floral dress

5.    White diamond shirt
6.    Grey circle shirt
7.    Lavender shirt
8.    Purple floral shirt

9.    Black pencil skirt
10.    Herringbone skirt

11.    Black pants
12.    Gap jeans
13.    Levi’s jeans

14.    Black blazer
15.    Grey blazer

16.    Black cardigan
17.    Grey cardigan
18.    Purple/black cardigan

19.    Black scarf
20.    Orchid scarf

21.    Black boots
22.    Black heels
23.    Silver flats

24.    Black tights
25    Black polka dot tights
26.    Black chevron tights
27.    Black leggings

28.    Grey cami

29.    Black belt
30.    Black purse

31.    Red sweater (for volunteering uniform)

32.    Grey outdoor coat
33.    Black jacquard coat

*You can call me a big fat cheater because I am not following one of the main rules of the challenge: counting jewelry.  My philosophy is that I can mix and match my clothes only so much, and jewelry is a major component for keeping outfits fresh.  

Also items that have a specific purpose (ie rain boots, snow boots, umbrellas, etc.) I did not count.  If my health, safety, and protection from the elements is threatened, I figure that’s a rule that can bend.

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Daydreams

Hi World.

Laura here.

I have a lot of thoughts going on in my head.  A lot of big ideas.  A lot of daydreams.

I have started on some.  And accomplished a couple.  And now I want to chronicle how I make my daydreams come true.

You might have some daydreams as well.  Ideas that seem far-fetched and make people look at you funny when you say them out loud.

“This weekend I am going to make my own yogurt.”

“For the next three months, I am only going to wear 33 pieces of clothing.”

“Each of the presents I give for the Holidays will cost less than $10.”

“I want to get rid of my car.  Instead of driving, I will bike or walk wherever I need to go.  I will use the bus when the weather is bad.”

“I will pay off all of my student loans in the next 4.5 years.”

Yet who wouldn’t want to eat delicious food?  Or be debt-free?  Or have excellent health?  People say that they want these things but they don’t take the steps to make them happen.

I am taking the steps.  I am making the changes.  It will take me years to get to where I want to be, but I will arrive.  And I want you to join me.

Let’s do this together.  I will help you and you will help me.

Let’s do this.