Creating and Maintaining a Monthly Budget {Free Excel Spreadsheet}

With baby #2 coming, we've been more mindful than ever about where our money is going and working hard to stay on-budget.  By closely keeping track of everything we're getting a better idea on where everything is going and where we can shave off a few dollars.  With only one income and a lot of expenses (both expected and unexpected) it can make it very challenging to stay on-budget each month.   | This post contains affiliate links. |

Here I've shared a more simplified version of the spreadsheet we use (since we're self-employed we also need to set aside money for quarterly taxes and other expenses).  You can change the Expense titles in the left hand column to fit your needs, but I've tried to include all the basic expenses that most young adults will have.  

Next replace the monthly Income in the example with your own monthly income (I had to put in a number here as an example so the formulas wouldn't result in error).  Then go down the Budget column and fill in what you expect or budget your bills to be.  As your bills come in, put in these figures in the Actual Spent column.  All of the percentages and totals will auto-update as you fill in the chart.  

Over the course of the next few months, you'll see how your expectations (Budget) line up with reality (Actual Spent) and will be able to identify trends.  Maybe you spend more for Gas than you thought you did.. or maybe you realize that you spend too much on Entertainment and should put some of that towards other bills...?  Keeping track of where everything is going is very eye-opening and will help you stay ahead.  The most important thing is writing everything down and sticking to it!  

In the event the doing an Excel spreadsheet isn't your thing, there are also many great paper-based Budget Planners/Trackers you can buy out there! I haven't used it myself (yet), but I have heard great things in particular about this highly rated Budget Planner Notebook.

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Check out some of our other Money Saving posts:  

• Making it Work on One Income: Becoming a Stay-at-Home Mom

• How to Save on Health Insurance & Medical Bills

• How to Save Money on Groceries - Rural Edition

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New Year, New Resolutions to Save Money

New Year means time for new Resolutions.  Usually they boil down to a lot of the same things, and a big one for us is always saving more where we can.  Every year everything gets more expensive - groceries, gas, clothes, healthcare, etc but our paychecks always seem to stay the same.  
I decided to compile some of my best blog posts on saving money and I hope it will help you jumpstart your savings too!  

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Saving on Groceries

Our 9 Favorite Money Saving Apps

Saving Money on Groceries - Rural Edition

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Budgeting

Creating and Maintaining a Monthly Budget

Making it Work on One Income

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Saving on Health Insurance & Medical Bills

How to Save on Health Insurance & Medical Bills

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Clean House, Make Money

5 Tips to Make the Most Money from Consigning Clothes and Household Items

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Save on Special Events

Easy Ways we Saved THOUSANDS on our Dream Wedding

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How to Save on your Health Insurance and Medical Bills

As a self-employed family, we have to buy our health insurance ourselves out-of-pocket.  Premiums and deductibles have been skyrocketing over the last few years and we've been working hard to make the most of our health plan and save where we can but it's still hard.  I thought I'd share some of things we've learned buying insurance and paying medical bills ourselves over the years.  Most of these tips relate to families buying insurance out-of-pocket, but a lot of tips would also benefit those that get insurance through their employer.  
| These tips relate to what we've learned in our own experience - please consult your insurance broker, accountant, etc for the best information regarding your own situation |

Shop Around for Insurance

If you're buying insurance yourself (not through your employer) these days, you're pretty much limited to only getting insurance through the Healthcare Marketplace as most insurance carriers have gotten rid of their individual plans and rolled them into the Marketplace Exchange.  
While shopping for a plan on the Marketplace, you can compare premiums, deductibles, and coverage but make sure you are VERY thorough.  At first glance it may seem you have a lot of options, but many times plans are not widely accepted at doctors and hospitals.  Once you find a plan you think will work for you, check with both the Marketplace as well as the insurance company directly to make sure the plan is accepted at all your family's doctors, specialists, and area hospitals.  The last thing you want to happen is to head to the ER for a broken ankle and find out afterwards that your insurance won't even touch that bill.  Depending on your family size and income, you may also qualify for a discount on the cost of your premiums through the Marketplace.  

Consider the High Deductible

If your family has no chronic medical issues, is healthy (knock-on-wood), and you're not planning on having a baby or surgery in the coming year it may be advantageous to go for the sky-high deductible.  Yes, this could be risky as you never know when something may come up, but if nothing major comes up you can save a lot on your monthly premiums.  

Pay Your Monthly Premium on Your Credit Card (if possible)

If you can't purchase your insurance pre-tax through an employer, see about using your credit card to pay for your monthly premiums.  Not all insurance carriers will let you pay your premium on your credit card, but if they will let you - do it!  Most credit cards have cash back rewards or bonuses for using your card, so you might as well take advantage of it.  My credit card offers 1% cash back, so I earn about $55 back on my premiums each year - it's not much but it's better than nothing, and I know there are cards out there that have much better rewards than mine.  
*Obviously only pay your premiums on your credit card if you're good about paying that amount off in full every month - you do not want to go into credit card debit over your health insurance premium.  

Health Savings Account (HSA)

A Health Savings Account (HSA) is a savings account that's designated for medical expenses only.  Ideally you deposit into the account pre-tax and this money can grow and be saved for future medical bills.  This is especially useful if you have a high deductible because then you'll have pre-tax money set aside to help pay for anything that may come up.  Many HSAs have monthly fees though, so it's important to do your homework and talk with your accountant to see if an HSA is right in your situation.  

Take Advantage of Preventive Care

All preventive care (annual exam, most basic blood work and vaccines, many basic screenings) are covered in full under Health Care Reform.  Don't be fooled - these aren't really free (you're already paying for them with your high monthly premiums and deductibles), but it's true that you don't have to pay anything more out of pocket for them.  Since they're included in your health plan, make sure to keep up-to-date on all your preventive care and stay healthy - this will hopefully keep expensive health issues from possibly surprising you later on.  

Know the Membership Perks of Your Health Plan

A lot of health plans have perks that might not come up when you look at your plan details - make sure to search these out and take advantage of them.  These perks can be things like discounts at athletic stores or on prescription eye glasses, gym membership or race fee reimbursements, healthy eating incentives, and more.  Take note of what's available to you and use them when you can.  

Shop Around for Non-Emergent Care

In the event you need a diagnostic test or minor procedure done, shop around for the best price for your insurance.  Prices for things like blood work and x-rays can vary wildly among doctor offices, hospitals, etc so it's important to do your homework.  

Shop Around for Prescriptions

What you'll pay out-of-pocket on your prescription medications can also vary greatly from pharmacy to pharmacy.  If you have a prescription, make sure to call around to your area pharmacies and ask them to run a price check of your medication against your insurance (you'll need to give them your insurance info, and they'll probably have to call you back with the answer).  Also, check with your insurance to see if they have a Mail-Away program - typically you send in a written prescription and they will fill your RX for three months at a time at a discount.  

Always Check EOBs and Medical Bills Before You Pay

After you see your doctor, you will get an EOB (Explanation of Benefits) in the mail or available to you online.  Double check these to make sure your visit and anything that was done was billed appropriately.  For example - if you had a problem visit and then a follow-up visit a week later, the follow-up visit should be billed as a lower-level (cheaper) visit as long as nothing new was addressed at the appointment.  If you feel as though something was billed incorrectly, call your doctor's office and ask them to review the claim and resubmit if necessary.  

Also, sometimes things that should be covered by insurance aren't, often due to human or computer error when the claim is processed - and you may get a bill from your doctor/hospital for it.  If you ever have a question on why something wasn't covered or wasn't covered as much as you thought it should have been, it's definitely worth your time to call and question it.  

Ask for a Prompt Payment Discount on Medical Bills

Once you get a bill from your doctor or hospital, call and ask if they have a prompt payment or cash discount if the bill is paid in full.  Most places will offer you a discount (it varies, but we've seen discounts range from 5-35%) if you pay your bill in full within 30 days.  If you can afford to pay the bill now and take advantage of the discount it's definitely worth it!  

Payment Plan or Payment Forgiveness for Larger Bills

If you get a bill that you're not able to pay in full or if they do not offer a prompt payment discount, ask to be put on the minimum payment plan.  As long as the doctor/hospital does not charge interest, you might as well take your time paying the bill and not put undue stress on yourself.  
And as a last resort - if you have an extenuating circumstance and cannot pay your bill or make a payment plan work, many places will work with you to forgive some or all of your bill.  Speak with their billing department for more information on this - but be prepared to provide all your personal financial information (assets, personal savings, records, etc) to prove financial/personal hardship.  

Great Record Keeping

Finally, keep great records throughout the year - record all premiums you paid out-of-pocket, all copays, medical and dental bills, prescriptions, and all mileage to appointments.  At the end of the year your accountant can help you wade through all the information and determine what you will be able to claim as a tax deduction - but the more information you have to give him, the more you will potentially be able to write off so keeping great records is key.  

I hope these tips will help you and your family save money on your health insurance and medical bills.  If you have any other tips to share, I would love to hear them!  

Please note:  These tips relate to what we've learned in our own experience, please consult your insurance broker, accountant, etc for the best information regarding your own situation.  Use the information in this post at your own discretion and risk.  

Plaid Friday Sale - All Weekend Long!

We're celebrating Plaid Friday, Small Business Saturday, and Cyber Monday all weekend long!  Enjoy 20% off everything in our Etsy shop through midnight Monday with the coupon code "20PLAID".

Quantities are limited at the moment, so shop sooner than later.  Thank you all again for your support and shopping small!

Coupon code expires 11/28/15 at 11:59 PM EST.  

And don't forget - starting this year we will be donating a percentage of our year-end profits to charity, so you can feel good about your purchase.  

My 9 Favorite Money Saving Apps

We always try to spend consciously, but this year I really stepped up my couponing game as well as finding discounts for the shopping that we do.  In doing so I've narrowed it down to my 9 favorite money-saving apps that I use most often - and in just the last few months I've already saved a couple hundred dollars!  | This post contains my experience with these apps as well as some referral links |  

Amazon

Oh Amazon... we buy everything from gifts to groceries on here. But what I really love most is using Amazon on the fly and checking prices in-store before deciding where to purchase. If I'm in a big box store and thinking about buying a book, new sneakers, etc, I always use the Amazon app to scan the barcode of the item (so handy!) and see what the price difference is - and spoiler, it's often slightly cheaper (sometimes a lot cheaper) on Amazon. And since we have AmazonPrime, shipping is typically free!

Walmart

Walmart also has a super-handy barcode scan feature so you can check prices while you're out shopping, but it's Savings Catcher feature is probably the most handy. With Savings Catcher (a feature within the Walmart app), you simply scan in the barcode on your receipt and Walmart checks your items against advertised sales of other chains in the surrounding area. If an item is found to be cheaper at a surrounding store, Walmart credits you the difference on an eGift card which can be used towards future purchases. Savings Catcher helps make sure you're always getting the best deal.

Cartwheel

Cartwheel is Target's "coupon" app - every week there are new offers for you to unlock and claim when you checkout in store (just scan the barcode generated on the screen of your smartphone). The savings are typically small but really add up over time, especially if you do a lot of grocery and clothing shopping there.

EatRight (or whatever particular incentive your health plan may have)

With EatRight Rewards, you unlock weekly offers and discounts for healthy foods and the amount you save gets credited to your account. Once you accumulate a minimum of $10 you can cash it out. I particularly love that this app only gives discounts on fresh fruits, veggies, and healthier foods. (*EatRight Rewards by Nutrisavings is the particular app that is specifically contracted with my health insurance plan, which is why I use it. Check with your particular health plan to see if they have any healthy-eating incentives available for members!)

Ibotta

With Ibotta you unlock offers and earn rebates for items you purchase in exchange for some basic market research (typically viewing an advertisement or answering a multiple-choice question). Once you earn a minimum of $20 back you can cash it out to your PayPal account or redeem it as a gift card. I've written a more indepth post on Ibotta here , if you're interested.

Checkout51

Checkout51 has offers for rebates back on grocery items - simply scan your receipt and select which rebates you qualify for to earn money back, with no market research questions to answer. Once you earn a minimum of $20 you can cash it out. - And both Ibotta and Checkout 51 can be used in conjunction with each other to really stack those savings.

Rakuten (formerly called Ebates)

Rakuten (formerly called Ebates) is great if you do any kind of online shopping - think Amazon, photo sites, clothing stores, etc. Simply log into your Rakuten account (Chrome has a handy extension you can download too) and launch the retailer's website from there. Rakuten will suggest discounts and coupon codes at checkout and often will allow you to earn back a percentage (usually very small but it adds up) of your purchase as a rebate. Every quarter you can cash out if your balance is $5 or more. I can see Rakuten coming in very hand this Christmas season while ordering Christmas cards and buying gifts!

Coupon Sherpa

Coupon Sherpa is a great app for quickly finding in-store coupons and discounts while you're out shopping, as well as coupon codes for online purchases. Simply open the app and look up the store you're in - Coupon Sherpa will list all the current coupons available so you can choose which one works best for you. Simply bring up the coupon on your phone and have the cashier scan it when you check out.

Kohl's

The Kohl's app allows you to save coupons, and keeps track of rewards points and Kohl's cash. I don't know how many times I've had an awesome coupon for Kohl's only to have forgotten it at home! Thankfully with the app you don't have to remember to bring these things, and it's easy to check current offers and rewards balances.

So those are my top money saving apps right now.  If you have any questions regarding them, please ask away - and if you have a great app that I haven't listed here, please let know!  

Easy Ways We Saved Thousands on Our Dream Wedding

My husband and I have been married for nearly five years now but it seems like our wedding was just yesterday.  We got married before Pinterest was a thing and so it was up to us to figure out all the details on our own.  It was a learning process and we came up with some great ways to cut costs and still have our dream wedding.  | This post contains affiliate links |

From the start we knew exactly where we wanted to get married - a beautiful historic mansion overlooking the lakes and mountains we love (it was also where my husband proposed).  So that helped narrow things down quite a bit.  But the downside?  It was expensive and didn't include much of anything.  In order to have our wedding where we wanted, we had to cut costs in other parts of the budget and in doing so we saved thousands of dollars.  

Tips for Saving Big on Your Dream Wedding

Start planning as early as you can.  We started planning our wedding about 13 months out; we thought we had plenty of time but we were shocked at how many dates were already taken at our venue of choice, how many DJs/photographers were already booked, etc - even more than a year out.  Starting early means you have the most options to choose from and are more likely to find affordable vendors that you like.  Waiting until the last minute can leave you stuck with expensive options or ones you aren't happy with.  

All photos by Steve Holmes Photography

Find a venue that includes a lot.  Okay, so this tip did not really apply to us (our venue included little other than the physical ceremony location, reception hall, and a day-of wedding coordinator).  But many venues include at least something, and some include a lot more than others.  Some items that may be included in the venue cost include:  the wedding cake, toasting champagne, linens, DJ, flowers, cake cutting fee, bar credit, coffee service, hors devours, or even all of the food/catering.  If you can find a nice venue that includes at least some of these items, it can save you big in the long run.  

Pick a venue that's beautiful in itself.  If you can find a venue that looks pretty as-is, you don't have spend a lot (or anything) on decor costs!  An outdoor wedding with a pretty view means you don't need anything for the ceremony.  And a pretty looking old hall with a lot of character means you can get away with little or no decorating for the reception.  We spent almost nothing on decor costs since we felt our ceremony location was so beautiful already. 

Use details of the wedding venue to your advantage.  One of the little touches that people remembered most about our wedding?  The wishing fountain!  Our venue had a beautiful fountain in the middle of the ceremony location and we decided to use this feature as part of our day.  We put out a jar of brand new shiny pennies dated our wedding year (which cost $2 - literally), and put a little note in our wedding program about throwing pennies in the fountain for happy wishes for the bride and groom.  

Don't get married on the weekend.  I know this sounds strange but many locations offer a great discount if you get married on any day other than a Saturday or a Sunday (and some locations offer off-season discounts as well if you get married in the winter).  The date we really wanted for our wedding had already been booked (even though it was over a year out!), and so when were deciding on a new date we chose to have our wedding on a Friday evening.  By having it on a Friday we saved around $750 just on the venue cost!  

Opt for the buffet.  When selecting a caterer (presuming it's not included with your venue), look for ones that also offer a buffet option and compare that price to their "plated meal" price.  Buffets generally cost about 1/3 less than having the meal plated and served to your guests.  We choose the buffet option for our wedding and saved a lot on meal costs!  

Make your own invitations - or at the very least assemble them.  Originally we wanted to design, print, cut, and assemble our invitations ourselves.  But with all the time and stress going into wedding planning on top of regular work, we decided to forgo the stress of designing and sourcing paper/printing services and order our invitations.  We found a beautiful invitation design that fit our theme and colors perfectly and it was all printed on thick, gorgeous paper.  The best part?  It was from a small designer/paper goods company that was priced really reasonably and also had the option of sending all your invitation materials uncut and unassembled for $150 less which was a great savings.  

Don't get sucked into buying "wedding-specific" items.  Next time you're at a bridal shop or craft store, check out wedding day items like guest books and flower girl baskets and you'll be in for some sticker-shock.  I still remember looking at a flower girl basket and not believing it cost over $25!  Because of that we decided to for-go the (ugly in my opinion) while silk flower girl basket and get a basic woven basket at a craft store for $5 and tied a piece of coordinating ribbon to the handle.  We also skipped the traditional guest book and had guests sign the photo mat of one of our favorite engagement pictures - this keepsake is now hanging in our master where we can see and appreciate it every day.  These days with Pinterest the alternative guest book ideas are endless!

Borrow your petticoat.  If your wedding dress calls for a petticoat, see if any of your friends or family has one you could borrow for your wedding.  (If they do, make sure to try it on with your dress before your dress is altered to make sure it will work.)  No one sees the petticoat and it's not a sentimental part of the day, so there's no need to actually buy one.  

Offer to do the leg work.  If you're working with a vendor and have some extra (and very reliable!) hands willing to help on the day of the wedding, offer to do the leg work for the vendors - in exchange for a discounted rate of course.  For example, the cost of our linen rental included delivery and pick-up of the linens but my husband's parents offered to take care of it since they lived nearby.  By having them pick up the linens the day before the wedding, and then drop them back off the day after the wedding it saved us $100.  Also, our florist was about half a mile from the hair dresser where we all were getting our hair done - so, rather than pay the delivery fee for our bouquets my mother-in-law ran over and picked them up for us.  

Take advantage of family and friends' talents.  If you know someone that has a great talent or hobby, feel them out to see if they'd be willing to help you with an aspect of your wedding.  My sister-in-law is super-crafty and an AMAZING baker.  She made our gorgeous custom wedding cake for us and my brother-in-law made the cake base, saving us hundreds of dollars - not to mention it's much more meaningful knowing it's made with love by someone we know.  

Willow Tree Cake Topper (Affiliate Link)

DIY wedding centerpieces.  If you choose flowers for your centerpieces each arrangement can easily cost $80+ and that adds up to a lot, fast.  We decided to make our centerpieces ourselves and save this money.  My husband and I opted for flower-free centerpieces that we could make way ahead of time; we used birch logs with hearts and table numbers carved into them (a nod to when we carved our initials into a tree while dating), along with river rocks and some other natural elements.  Everything we choose for our centerpieces meant something to us which made our them very personal.  In order to make them we only had to purchase the candles and some river rocks - for all 10 centerpieces it cost us about $35.  
(My only other piece of advice for making your own centerpieces would be to bring it to your venue and see it on one of their tables ahead of time, if possible.  Our centerpieces looked awesome on our kitchen table and we thought they were the perfect size, but once they were set up at the venue we realized they didn't fill in the center of the tables quite enough and we should have brought some smaller elements to fill in around it.)  

Simplify the bouquet.  Florists charge more for having to source out more flowers.. if you have mixed bouquets they can cost a lot more than a bouquet the same size that contains just one type of flower.  We wanted to keep it simple anyways and decided to stick with straight yellow roses for all the bouquets and that saved us a lot of money in itself.  

Borrow a fun car instead of renting a limo.  We had the advantage of having our ceremony and reception at the same location, so we didn't need to transport the wedding party from one place to another.  Even still, we wanted a fun "getaway" car to leave in at the end of the night.  Luckily for us, our family is into restoring cars as a hobby and we got to use a '66 Chevelle that we all helped fix up - definitely made it more fun and more meaningful than using a limo service.  

The One Thing Worth Splurging On

A great photographer.  Seriously folks, hire a great photographer and you won't regret it!!  Your wedding photos will be what you look back on to remember the details of your day, and it's so important to have ones you're proud of and that truly capture all the magic.  A great photographer can also do wonders with what they have - even if you don't have the most ideal backdrop for a photo they can make it look amazing with some artful focus or composition.  

When hiring a photographer make sure to look at their full portfolio; see if you like their style, if they're consistent with editing techniques, if the overall mood of the photos fits your personal taste.  It's also a good idea to hire a photographer that comes with an assistant photographer - this way you get double the photos and more angles of the ceremony.  It also allows the photographers to be in two places at once, especially helpful for taking getting-ready photos.  

You also want to find a photographer that gives you full rights to your photos - after all you want to be able to print as many copies as you like, make photobooks, send photos to your local newspaper for your announcement, post them on Facebook and other social media, or even possibly submit them to be featured in bridal magazines.  Without a letter stating you have full ownership and publishing rights to your photos you'd be unable to do any of that without going through your photographer every time (and doing so would cost you extra money each time).  

And don't forget to quiz any potential photographer on things that may go awry and how they'd handle it... just in case.  A personal emergency came up and they were unable to photograph your wedding at the last minute?  (They should have some photographer associates of equal or better caliber they can call on to fill in for them at no additional cost to you)  If a camera or lens gets dropped on the big day?  (They should have backup equipment with them as well as extra fully-charged batteries).  A great, experienced photographer should have a game plan for anything that may come up and still get you beautiful photos of the day despite any challenges that may arise.  

Photos from our wedding were featured on New Hampshire Bride Magazine's website, Maggie Sottero's website, in Super Chevy Magazine, and on Love & Lobster.

All photos by Steve Holmes Photography

Disclaimer:  Please note this post shares my opinion and prices and information mentioned are based on our experience of planning our wedding five years ago.  *Prices and packages from vendors that we used may have changed.*