Archives for September 2012

How The Latte Factor Works In Real Life

How The Latte Factor Works In Real Life

The latte factor. If you haven't heard of it, it's essentially this: Save your $4 a day that you spend on lattes and put it into a retirement savings account to become a millionaire after 30+ years. Or something like that. Actually, after using an investing calculator, you'd probably end up at about $180,000 or so. Either way, the plan is; stop buying lattes, retire rich. You get the idea. How It Really Works This idea is one of the concepts author David Bach uses is his book, The Automatic Millionaire, to illustrate that everyday choices can lead to prosperity. And while I agree with … [Read more...]

Cloth Diapers vs. Disposables: Cost Comparison

Cloth Diapers vs. Disposables: Cost Comparison

First things first, this is not a post on how to cloth diaper, what the different types of cloth diapers are, or any of the other million details that could be written about cloth diapering. There are enough sites devoted to that already (try here and here), so this is a post about my experience and our financial savings. Before we even had Nolan I decided we would use cloth diapers.  I could not stand the thought of so many diapers just going into the landfills, and what's more, I couldn't stand the thought of buying something that's sole purpose was to hold poop just so I could throw … [Read more...]

How To Save Money: New Dishwasher

How To Save Money: New Dishwasher

Have you ever had appliances so old that you find yourself planning a party for the day they die? Like, you have a good bottle of wine saved and some money set aside for some take-out to celebrate the death of your ancient appliance. Well, in the iHB household, we have a few of those. You may remember the death of our water heater. It was the first "emergency" that we had encountered in our house, and if we lived in a normal American household, it should have put us further into debt. Luckily, our emergency fund covered the expense and it didn't impact our budget one bit. Since our EF … [Read more...]

Learning About My Relationship With Money At Age 7

Learning About My Relationship With Money At Age 7

I remember the night like it was just yesterday. We were in the "white house", as it is now known, upstairs in the boys room (I grew up with 3 brothers, shared a room with 2 of them). I don't know what day of week it was, because, well, I was 7, and days of the week didn't really matter. What was significant about this day was that I had just learned how to play a few hands of poker. My brother had shown me what a flush, a straight, and what 4-of-a-kind was, so I was pretty much an expert. I also learned that when people play cards, they place a bet with their money, hoping that they had the … [Read more...]

Budget Confessions: Part 2

It's time for another episode of Budget Confessions, the show where I publicly acknowledge that I haven't even been taking my own advice and display what a mess it creates. In my first budget confessions post, I talked about how we'd been blowing the food budget (like, friggin' doubling it!), how our backyard budget was blowing up like a balloon, and how I had removed my sinking funds this year because we don't make enough money to pay our bills. I posted an action item for each confession to get myself back on track so I stopped blowing the budget. Let's see how I did: Action … [Read more...]

How To Strike It Rich: Get In A Car Accident

How To Strike It Rich: Get In A Car Accident

Many people play the lottery in hopes of winning the big jackpot, or even a couple thousand dollars to help fix whatever financial mess they've gotten themselves in to. Heck, I've even sat around and dreamed about the possibilities of what I would do if I won the lottery. But I never knew there was so much money out there for the taking! Insurance companies make so much money it's falling out of their pockets. They don't really know what to do with it, so they just end up throwing it at car accidents for some reason. Here's how you can profit: Get Hurt Really, Really Bad I'm talking … [Read more...]

Michelle’s Frugal Finds: Emeals!!

Michelle’s Frugal Finds: Emeals!!

You may have noticed our "I <3 Emeals" button on the right side of the page and we've mentioned it a few times in previous posts.  Well, I am here today to tell you a little bit about it and let you in on a super awesome deal! Adjusting to motherhood was a little difficult for me. After having our son I had NO time (or energy) to sort through all our grocery circulars and pick out deals and coupons, make a meal plan based on those deals, go to 4 different grocery stores then come home and make dinner, prep food for lunches, etc.   I used to do all of that every week. I LOVED making my … [Read more...]

Get Out of Your Hole Without Living In a Cave

Get Out of Your Hole Without Living In a Cave

As someone who has definitely spent way too much money for the 26 short years I have lived on this earth, I should be the first to tell you that buying expensive things can definitely drain your cash supply faster than Justin Bieber running from the paparazzi. After blowing through my inheritance, I had to really scale back my spending; otherwise I would end up in more debt than I already had. I stopped eating out so much, stopped buying clothes every week and started shopping as cheaply as possible. I paired my monthly expenses down to about $1,200 a month at one point, including $400 a month … [Read more...]