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Operation: Get That Dough (I need a better title)

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Help me out girls.  What’s a good title for Operation: Get and save money in any (legal) way shape or form I can for a house, a baby coming soon and grad school tuition?

While you’re thinking about that, I’ll let you in on my plan so far in the tentatively named Operation: Get That Dough

1. saving $ from 9-5 job – OK this is the “duh” item on the list and will likely contribute most to the savings accounts.  I save $XXXX each paycheck to an account on everbank.com.  I’m going to beef this up by:

  • looking for an online bank account with a higher interest rate to switch to
  • look into upping the amount I put in (after consulting the budget to see if it’s even possible)

i have this pic on my vision board 🙂

2. couponing more aggressively – I am going to even start “liking” brands on FB and signing up for their “clubs” so I can get some coupons sent to me to help me with the food costs.  Oh, and I’m never shopping with John, I’ll go alone and have him pick me up because it’s easier to stick to my list that way without seeing “surprise!” hot dogs and pork rinds sliding down the conveyor belt.

3. Sell stuff – I’m going to try craigslist, half.com, and ebay for selling books and clothes and other things that I’d otherwise just give to goodwill.  Let’s see if anyone wants this stuff.  One man’s trash another man’s treasure, right? I used to sell textbooks on half.com all the time.  Hopefully it’s still as easy.

4. Switch Credit Cards – I actually already did this.  I got rid of my continental chase card and got a chase freedom card.  This gives me unlimited cash back versus miles, and has no annual fee (Saved $79/year) – PS: I gotta say, the customer service people for this card were stellar…never had such good service from a credit card company before.

5. Adios Gym – I did this one already too.  I said sayonara to NYSC,  I had the membership on hold since I couldn’t workout in my first trimester at all, but I just got rid of the membership all together.  I still have my Planet Fitness account which is $10 a month (which if I’m being honest with myself I should probably cancel too….), but that one will go bye bye after we move.  (Saved $75/month)  I am putting the “gym payment” into my savings account as if it’s a bill I’m still paying.

6. Cash Back – All of the money I get back each month from Mr. Rebates and Ebates goes straight into my savings.  Now that I use the site when I book/buy anything at work, I’m getting a lot more cash back! Yippee!  (If you haven’t yet signed up for one of those, I suggest you do so now, you’ll get cash back for shopping…if you’re going to shop online anyway, may as well get some $$ back each month for it!)

7. Continue cutting back – another duh item.  We’re cutting back even more and depending on how my future baby shower goes, we’ll be going used/thrift for the baby stuff (not the crib or car seat of course).  I did a pretty sizeable haul of maternity clothes for $250 (target clearance and old navy clearance) and am now on another shopping ban until May 1, 2012!

8. Save freelancing / coaching income – my final “duh” item.  I’m treating my side business income as an untouchable bonus.  A certain percentage of it goes to IRA and the rest goes to savings.

I’m dividing all the “extra” earned money in savings 3 ways.

  • 50% to Down Payment fund
  • 25% Baby fund
  • 25% Tuition fund

Any other ideas for me? Know where any money trees are planted perhaps?  Know any rich benefactors?  

Also, I was asked in an email about what books I’d recommend to help get a hold of your finances.  Here are my suggestions:

And….I haven’t read these yet, but if you have amazon prime (which you can get free if you’re a mom or student fyi) you can read these books for FREE!!!

 HAPPY SAVING!!

Doyou have any financial goals this year?  What are you doing to save or earn money this year?

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Todd Garth

Monday 23rd of July 2012

Really informative post - thank you for sharing. It's so good to see someone writing about saving money, as it can be quite hard to find practical, real advice out there.

Pinterest Nursery Inspiration | Ok, Dani

Thursday 19th of January 2012

[...] course….obsess about decorating.¬† I won’t be doing too much, because¬† I’m doing Operation Penny Pinch (thanks Katie) but I’ll definitely do a bit of prettifying, especially to Embry’s [...]

Mrs. H

Thursday 12th of January 2012

Have you started using Swagbucks yet? You're online all the time so that may be a suggestion you can get gift cards (even though not just cash) The idea of the credit union has already been mentioned and a bunch of others. I keep hearing about this David Ramsey book I'm gonna have to buy it cause although our finances are in great shape I'm interested. P.S. I tagged you on my blog post today!

YUMMommy

Wednesday 11th of January 2012

I love, love, love Suze. She doesn't tell you what you want to hear but you need to hear. And she doesn't mince words which most people don't like about her but sugarcoating and hand holding is how most people ended up in debt to start with. Have you thought about switching to a credit union credit card? They can't raise interest rates over 18% and a lot of these other credit cards have interests that are at least 25% or higher.

I'm not sure how much free time you have but maybe there's room in there to take on more freelance work. Also, I would recommend shopping online for big baby items like the crib and mattress. You can score great clearance items from name brands online that aren't available in the your local stores. Not to mention there is often more of a variety/selection.

Dani

Wednesday 11th of January 2012

Thanks! I pay my cards off in full each month so the interest rates don't effect me. I choose based on PERKS!! lol. Great idea on shopping, and I'm takin on as much freelance work as I can.

KalleyC

Wednesday 11th of January 2012

These are all great suggestions. What we did to save up on baby clothes (cause we still bought some), is hook up with other moms who already had clothes and were not having any more children.

These were either co-workers or friends.

This came in handy especially in the first year when children don't wear their clothes for very long. I saw no point in buying BabyPhat for 3-6 months, when maybe she'll wear the outfit once.

Dani

Wednesday 11th of January 2012

I need to hurry up and make some friends who have kids!!

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