If you didn’t already know by now, Chris Peach is the guy who started Money Peach from his kitchen table in March 2015. He started Money Peach alongside his “real” job, because isn’t that how most small businesses start off? They usually are created alongside a “real” job.

Believe it or not, Peach’s real job is on a firetruck at one of the busiest fire houses in the city he serves. If you weren’t already aware, Chris is a full-time firefighter and paramedic. He is also a full-time blogger and online entrepreneur for Money Peach!

He is a problem solver, no matter if your house is on fire, you’re having a heart attack, or you’re needing advice on what debt to pay off first. 🙂

Just like many of you, Peach wears more than one hat for work!

Related: 84 Side Hustles Different You Can Start Today (They’re Awesome)

Working More than One Job?

If you are one of the many people like Chris and myself who supplement your income by having more than one job, this post is going to provide you with some key takeaways for making sure you are filing your taxes correctly.

Working more than one job is tough. No, actually it is RIDICULOUSLY HARD.  It requires a ton of sacrifice and self-motivation to tell yourself to keep going, even when you are dead tired. The icing on the cake is when you’re drinking your 4th cup of coffee to keep yourself going and you scroll through your Facebook feed and see those around you are taking time off to relax. Not cool!

However, before you go out and earn a bunch of income from your multiple jobs, you should first realize there are some special tips you must follow for filing taxes with multiple jobs.

Here are 3 things you need to consider if you have multiple jobs. Even if you’ve already done your taxes for this year, these may come in handy come tax time next spring.

1. Multiple Tax Withhold Forms May Result in Too Few Withholdings

While you may not enjoy paying taxes and taking home a smaller paycheck, you do want to be sure they have been prepared correctly and withheld from your paychecks all year. This way you don’t owe a crazy amount of money come next April.

If you have multiple jobs, a separate withholding form must be filled out for each employer. But, neither of those forms takes into account what is withheld from the other employer. Once your taxes are calculated, you might find that you owe a substantial amount in income tax for the year as a result.

How Do You Avoid Owing Too Much and File an Accurate Return?

The answer is to simply change your withholding on a new W-4 Form with your employer.

Download Form W-4 from the IRS here

**I recommend you have this nearby when reading this post

**Two important things to remember when looking at your W-4:

• Claim all the allowances you normally would on the W-4 form for the job that pays you the most.

• Claim Zero on all W-4s for other employers.

Why does this work?

Claiming more allowances results in less being withheld from your paycheck for that employer.

On the other hand, claiming zero would result in the maximum being withheld from your paycheck for that employer.

Therefore, since you are claiming zero for every employer except the place where you earn the most, you shouldn’t have a huge tax burden at the end of the year.

Bada-bing-bada-boom!

Money Peach Pro-Tip

I don’t want you to get a tax refund.

A tax refund is pretty dumb when you break it down. A lot of people will look at it as a forced savings plan, however what it really means is you’re lending your hard-earned money throughout the year to the government at 0% interest.

After you have sent them your money, you then patiently sit and wait while they pay you back sometime next Spring. No thanks government.

This is why I would much rather have the money I earned throughout the year land inside each paycheck, and then owe the government a little (not a lot) come April. At least then I know I was 100% efficient with my money.

Related: Why Getting a Tax Refund is Called Losing

2. Two Earners/Multiple Jobs Worksheet

The second page of the IRS Form W-4 contains a Two-Earners/Multiple Jobs Worksheet.

You may need to fill out this portion of the form if you have multiple jobs or are married and both you and your spouse work.

The intent here is to ensure enough taxes are withheld from your paycheck to prevent you from owing a large payment to the IRS once your taxes are calculated. There is an income chart at the bottom of the worksheet to help you fill out the form.

Since you can’t claim less than zero, an additional dollar amount can be withheld from each paycheck of the employer of your choice.

The goal is to be as close as possible to the amount actually withheld and the amount you actually owe in taxes at the end of the year. This will result in having to write a much smaller check to the IRS when you to file your next tax return.

3. Social Security Tax

If you have multiple jobs, you need to be cautious in order to avoid an overpayment on your social security tax.

According to the Internal Revenue Service, for tax year 2017, the social security tax income limit is $127,200. If you hit that mark with your total combined income, you won’t need to pay any more social security tax for the year.

If you have gone over the limit and the amount withheld was over $7,886.40 for employees ($15,772.80 for self-employed since you don’t have an employer to pick up the first $7,886.40), which is the maximum amount to be withheld for 2017, an adjustment must be made. This is done on line 71 of your 1040 form. Talk to your tax professional if you have any concerns about this.

Maximize Your Tax Deductions and Credits

TurboTax will search over 350+ tax deductions and credits, maximizing your mortgage and property tax deductions, and turn your charitable donations into the deductions you have earned.

The Bottom Line

With over 70,000 pages in the tax code, it is going to be impossible to get your taxes “just right”. Right when you think you have it all figured out, they add one more page to the tax code and boom, your taxes are no longer perfect!

Just remember this: The best you can do is simply the best you can do when it comes to paying Uncle Sam.

Therefore, if you’re one of those hard-working rockstars who dives in and takes on multiple jobs with multiple employers, then bookmark this article so you have the valuable information you’ll need to help you with your next tax return.

What Do You Think?

Can you think of other tips for those filing taxes with multiple jobs? If so, leave me a comment below and share this info with the people you like, love, can’t stand, or are somewhere in between via the buttons below.

Factor in the other associated expenses, along with all the other bills you have, and money can get a little tight. Plus, a mortgage is usually the largest debt you owe. So, if you really want to be debt free, should you sell your home?

Here are a few things to consider before you decide to sell your home to pay off debt.

1. Smaller Payments

When the biggest chunk of debt you have is your home loan, it can be very tempting to try to get out from under it by selling your home. However, you shouldn’t make a decision with haste.

Instead, consider all of the factors and run the numbers before you pick up the phone to call or text your realtor. For example, have you compared your current house payment to what it would cost you to rent? Of course, the amount of a potential rent payment could vary quite a bit depending on whether or not you are also willing to downsize.

Additionally, if you are planning on purchasing a smaller home rather than renting, you may not eliminate as much debt as you think, especially if current home prices are high. It isn’t always a smart move to sell your home in order to reduce debt.

2. Quality

Unless you have no other choice, quality is something to consider when you are thinking about selling your home to get rid of debt. Does your current home have a lot of upgrades? Selling a nice home and moving into a rental could mean giving up many of the features you enjoy in order to reduce debt.

You should scope out rentals before you decide to put the “for sale” sign up in your yard. Many times the units available for rent are poorly maintained as well as outdated.

Be sure to decide if this is a big influencing factor for you and your family. Of course, sacrifices are often required in order to pay off debt.

3. Maintenance

Home maintenance is another factor many people consider when trying to decide whether or not they should sell their home to pay off debt. Even if you think you are going to save money in this area, that may not necessarily be the case.

If you decide to sell your home and buy a smaller one, you may still have to spend just as much, if not more, on maintenance. For instance, if your current home has been well maintained you may not need to sink much money into it for a few years. Buying a smaller home that hasn’t been taken care of could saddle you with home repairs shortly after moving in. Suddenly, you are right back where you started. You’ll have debt and high bills to pay for all of the maintenance and repairs on the smaller home.

4. Utilities

You might automatically think moving to an apartment, rental, or smaller home will save you in utility costs. But again, that isn’t always the case. If your current home was built to be energy efficient, and you are using HE appliances, your monthly utility bills may not be all that much different even if you move to a smaller home.

When you are comparing the dream of home ownership with the dream of reducing your debts, take the time to think over all of the contributing factors. Don’t make a hasty decision that could cause you regret. There may be alternatives, such as taking on a roommate or renting out a portion of your home to bring in additional income. But, in the end, only you know if selling your home to pay off debt is the right decision.

But when you are trying to get out of debt, you may think the last thing you need to do is spend more money to take a vacation. You may ask yourself if you even “deserve” to take a vacation while in debt.

Should you use your vacation days from work to travel and get away from real life for a while? Should you just save the money and put it toward debt instead?

Overall, I think paying off debt takes grit and sacrifice, which is why on the surface, I’d say you shouldn’t spend the money to take a vacation while in debt. BUT, you have to live a little along the way to avoid debt burnout, which could cause a much bigger setback.

My advice is to to find a balance between taking no vacation and taking an expensive vacation. There are ways you can keep the costs down so you don’t end up with more debt from your getaway.

1. Lodging

Of course, the more people you take on your vacation, the higher the cost of lodging will be. However, if you don’t have kids yet or they are a little older, maybe you could go camping. Or, to keep prices in check, search the internet for ways to find cheaper lodging through TripAdvisor or Airbnb. You can also rent out your own home through some of the home swap sites to help earn a little money while you’re traveling.

2. Food

Grab that ice chest you have been storing in the garage, dust it off, and wash out the inside. If you are taking a road trip, you can plan ahead and pack the food items you need to take with you. Use the cooler for the few items you need to keep cold and keep another container in the car for the other items not requiring refrigeration. When you start to run low on essentials, such as bread or cheese for sandwiches, make a quick stop at a local grocery store to pick up more. Even if you splurge on things like pre-cut fruit at the store, it will be a lot cheaper and healthier than fast food.

3. Transportation

Thankfully, current gas prices aren’t what they were a few years ago. Taking a road trip in your car is usually cheaper than flying, and much more desirable than taking a bus. Of course, depending on where you live, there are also trains to consider as a transportation choice to your destination. Any of these options can be economical if you take the time to shop ahead and know where you are heading.

4. Activities

Look for free or low cost activities for your vacation, such as going to a lake or beach. In addition, consider museums, hiking, or just walking around on your own taking in all of the sites. A vacation can be a fun adventure without having to spend a fortune for guided tours or other expensive activities.

5. Pay in Cash

Save cash in a sinking fund to pay for your vacation. This way you won’t rack up a single cent in debt for your getaway. Of course, that doesn’t make your vacation free, but it can make it do-able.

6. Take a Shorter Trip

Sometimes your schedule, or budget, will not allow you to take a week off and head somewhere exotic. However, that shouldn’t mean you have to give up taking a break altogether. Simply make it a short one for only a weekend or a couple of days during the week. You can still have some fun without breaking the bank.

Taking a break now and then from your regular routine is not only good for you, but it can be a priority for good health. Whether or not you should take a vacation while in debt is ultimately up to you.

Are you planning to take a vacation before your debt is paid off? How will you keep it cheap?

I invited my brother to be my roommate last summer and it has been a game-changer for my monthly budget. It helps with my house payment and utilities, allowing me to put more money toward paying off debt and building my emergency fund.

But before you move forward with this idea, keep in mind there are some pros and cons of renting your home to make extra money. Here are a few things to consider before deciding if you should rent your home to make extra money.

Pros of Renting Your Home:

1. Extra Income

Renting your home could provide you with a steady stream of income to help you get debt paid off. If your property is near a college campus or if the number of available rentals in your town is lower than the demand, you may be able to rent your house, or a room in your house, for quite a bit of money. Applying that money directly toward your debt can be a big help.

2. Property Value Increase

Generally, when you are a property owner, the value of your home should increase over time. This is due partly to inflation. In addition, if you make renovations in the home or add onto it in size, it could further raise the value of your home. Increasing the value of your home will help if you decide to sell the property or if your turn it into a rental property instead of your primary residence. Generally, the more bedrooms a home has, the more rental income it will generate.

3. Tax Benefits

There are some tax deductions you can use as a landlord. For example, you may be able to deduct repairs, depreciation, and the interest you pay on the mortgage.

Cons of Renting Your Home:

1. Vacancies

In theory, gaining extra income from renting your home sounds like a great idea. However, what happens if you can’t get anyone to rent your home? It may not be a huge problem if it’s your primary residence, but if you own another property that you actually live in, you now have more than one mortgage to pay and may not have the income to do it.

2. Repairs

Any repairs that need to be done to the home are your responsibility as the owner. Of course, this is the case with any home you own. But, if you live there yourself, you know how you will treat the property. On the other hand, if you have a renter that is irresponsible or damages your property, the costs for fixing things could exceed the amount of money you gain renting it. This is going to eat away at your property value and the rental income you hope to gain.

3. Could Tie You Down

When you rent out your home, or a portion of your home, you may not be able to just take a job in another city and move. If you do, you might end up paying for two properties for a while, or breaking a lease with a long-term tenant so you can sell the property and move. It could also be harder to travel because you need to be available for emergencies and collecting rent.

Earning extra money is always a great way to get your debt paid off faster. Just keep in mind there are pros and cons of renting your home to make extra money.

Have you ever thought about getting a roommate or renting your home for extra money?

I’ve personally tried lots of different things to save money. I’ve tried couponing, using cash envelopes to keep track of what I spend each month, and more.

I still use coupons now and then to save money, but I am not an extreme couponer because I found that couponing can cause me to buy a lot of things I don’t actually need. I also still use cash envelopes for some of my budgeting categories because it helps to keep my monthly spending in check.

But one other way I’ve been thinking to try and save money is by starting a garden. But, would a garden help you save money on groceries? Let’s look at some of the costs and benefits of having a garden.

Start With a Plan

I personally have not grown a garden, but I am considering it. One thing I think should be done before starting such a time consuming and labor intensive project is to determine what you actually like to eat and may want to try to grow. It will also be helpful to know how many of these items can actually be grown where you live.

I have to admit I have done only a little bit of research on gardening in my area of the country. What I have learned suggests that there are several variables that go into determining whether or not you can actually save money through gardening.

For instance, if you plant foods you don’t actually like to eat or don’t have recipes or meal ideas to use the produce, you’ll just be wasting time, money, and energy growing those things in your garden.

Gather Supplies

Obviously, you will need seeds or seedlings to get your plants started. In addition, you may need compost and fertilizer, as well as an area of adequate size to grow the number of plants you are considering. Add the cost of water, hoses, nozzles, sprinklers, shovels, hoes, tomatoes cages, garden stakes, and any other supplies, and your expenses start to rack up pretty quickly.

Of course, some of the costs can be spread over several years. After all, I doubt you are going to buy certain pieces of equipment every year, such as hoses, nozzles, and rakes. In addition, you may have seeds from your own garden to start your plantings for your subsequent years further reducing your costs. So, your initial outlay of money for the first year of your garden will probably be higher than for the years following.

Do the Work

I haven’t mentioned how many hours of labor you will spend outside preparing the soil, planting, watering, weeding, and tending to your garden. Of course, some people look at gardening as a hobby or a form of recreation rather than work. However, if you want a true representation of the cost of your garden, you should consider the man hours you spend gardening as well as the cost of everything else that goes into it.

Production Losses

So far all I have talked about is what goes into a garden. I haven’t mentioned what comes out of the garden. Some years you may have a bountiful crop. But there are also going to be years when you fight diseases, pests, and the weather. These variables affect not only your outcome but your costs as well.

As you can see, there are many variables to consider before you decide to start a garden to save money on your grocery bill. The worst part is, some of these you have no control over. So, would a garden help you save money? I feel like the question is best answered based on whether or not you are willing to put that much work into something that carries some risk and may not gain you anything at all. That’s why I haven’t yet started a garden myself. But I’m still considering it.

Do you have a garden? Do you think a garden can help you save money?

Of course, you can eliminate any unnecessary spending as much as possible. You can do things like cutting your gym membership and start working out for free, finding frugal hobbies to try during your free time instead of expensive ones, and more. Or, you can take more extreme measures to reduce your spending. You can try cutting your own hair, biking to work instead of driving, or giving up all junk food to save at the grocery store.

But in addition to all of the usual and unusual ways to save a buck or two, you could also try negotiating some of your monthly bills. By negotiating your bills, you can save money and continue using the services you’ve grown accustomed to having in your lifestyle. Here are 5 bills you might not have known you could negotiate.

1. Your Cell Phone Bill

I have a friend who was attempting to lower her monthly bills. So, she decided to call her cell phone company to see if there was a way to decrease her monthly cell bill. Because she wasn’t afraid to ask, she was able to slash her bill by almost 50%! It only took her a few minutes to make a call and ask for a lower rate. The worst that could happen is that they say no, and even then you wouldn’t be out anything expect a few minutes of your time.

2. Cable Bill

Not only can you cancel the expensive, premium channels, but you can also try to negotiate this bill. Call and let your cable company know you may have to cancel due to the high cost unless they can help you out. If you always pay your bill on time, point that out when you call them. In addition, find out what other providers are charging before you call so you can tell them you are going to switch companies to get a cheaper rate. Most companies will give you a lower rate for 6 or 12 months. Make sure you mark it on your calendar and call again right before that period ends. Of course, you could always cancel altogether and opt for Sling TV, which is Chris’ favorite way to watch TV.

Related: How to Save $100/Month with Sling TV

3. Medical Bills

Did you know you can sometimes get your medical bills lowered? Call the billing department and ask for a discount on your bill. If you have the cash saved up, you can usually get a discount if you pay-in-full. But if you are having trouble paying your bills, you might also be able to get a discount if you explain your circumstances. If you pay according to the payment plan they offer, they will be more willing to help you out again in the future if the need arises.

4. Restaurant Bills

If you go to a restaurant and the food was undercooked, overcooked, or of poor quality, ask to speak to the manager. Remember that this is not an unreasonable request. Also, if you talk, instead of yelling, they will likely work with you and give you a discount. They don’t want to lose your business or risk you telling others about your bad experience. Just don’t use this as a cop-out to get a discounted meal if your service and food weren’t of bad quality. That’s just being cheap!

5. Hotel Bills

Ask for a discount when you call ahead to get a room reserved. Hotels usually have a certain number of discounted rooms they are allowed to rent. Once they hit their maximum they may not be able to give you a discount. You can still get a discount if you aren’t able to make an advance reservation. Just make sure no other customers are within earshot as you ask for a lower rate from the desk clerk. If you are staying more than one night, ask for a lower rate since you will be spending a lot of money with them.

What other bills have you negotiated in order to save money?

I don’t get the chance to stop and take a break from everything with a night out as often as I would like to. And when I do get a chance to go out, I have to be careful not to be tempted to spend overspend.

Especially because of how rare a night out is, it’s easy to go overboard with spending. But it’s important to keep your budget in mind so you don’t cause yourself to have a financial setback.

Here are 5 ways I’ve used to help me save on a night out.

1. Eat and Drink Before You Go Out

Prepare some snacks ahead of time and munch on them before you go out. Drink a glass of water and fix yourself a mixed drink or grab a beer. The water is good for you, fills you up, and helps flush the toxins of alcohol from your body. By drinking a beer or mixed drink before going out, you won’t be able to spend as much on food and drinks once you get to wherever you are going.

2. Bring Cash

Don’t take your debit card with you when you go out, and you shouldn’t even take a credit card either. It’s too easy to just pull out your card and swipe it. The next morning you might have a very expensive wake-up call when you check your account balance.

Instead, take cash. Avoid taking too much extra cash, though, because it will tempt you to continue to spend. You can also avoid the exorbitant fees clubs charge for use of their ATM machines by withdrawing cash earlier in the day from your own bank’s ATM.

If you must take a card, get a prepaid card. If you lose it, at least you can be thankful you didn’t lose your debit card and give the finder access to completely drain hundreds or even thousands from your accounts.

3. Don’t Drink While You Are Out

If you are going to a restaurant to meet up with friends, don’t order any drinks with your dinner. Alcohol is usually more than twice the price of what it would cost you for having the exact same drink at home. Whenever possible, order the special because it’s usually less expensive than other items on the menu, or get an appetizer during happy hour. If you really want an entree, try to see if another friend might want to split a meal with you.

[clickToTweet tweet=”Date Night Out Doesn’t Have to be Broke Night Out” quote=”Tweet This: Date Night Out Doesn’t Have to be Broke Night Out”]

4. If You Drink, Do it Wisely

When you feel you must order drinks or you are going to a club, alternate with water to save money and avoid feeling quite so yucky the next morning. Order pitchers instead of individual drinks when possible and split the cost with friends. Pitchers are cheaper per oz than ordering individual drinks.

5. Share Transportation Costs

Having a designated driver is the best and least expensive choice for getting to and from a night out. But, if nobody wants to sit it out, share the expense of a cab or Uber to save some money.

Having a night out is a welcome break from life’s routine. Using these 5 ways to save on a night out can help you avoid having spending regrets, and possibly even a hangover, the next morning.

Can you think of some other ways to save on a night out?

-Kayla

Lovin’ this Post? Your Friends Will Too!

As always, I first want to thank you for reading this blog because this means you are reaching for awesome with your money! I will keep putting content out there for anyone to gobble up and implement right away, however if you could help me out by sharing this post on your favorite social media platforms, it would mean the world to me! Just click on any of the social share buttons at the top or bottom of this post and you’ll be giving me a virtual fist bump, high-five, and a pat on the back. Thank you again and again!

-Chris Peach

1. DIY It

This is an obvious solution that can save you anywhere from hundreds to even thousands of dollars, if you have the time and ability to DIY your more. But moving yourself doesn’t mean it will cost you nothing. You may need to take some time off from your job to pack and also for the move, so you could experience a loss in wages if you don’t have any paid days off available from your employer. You will also need to rent a truck or pull-behind trailer, pay for fuel, buy meals for a few days (remember, your your kitchen is all packed up!), just to name a few of the other expenses you could incur. However, if you have family or friends who are willing to help you out, you could get it done for far less than what it would cost to hire a company to do all of your packing and moving for you.

When I’ve moved in the past I’ve gotten even more DIY with it. I’m lucky to live in the midwest where many of my friends and family have pickup trucks that can haul a lot of large items. My family also has a farm, so we’ve got plenty of trailers of our own, so I was spared that expense as well.

2. Pack Your Kitchen Last

As I already mentioned, one of the expenses of packing and moving will be eating out for several meals during the process. However, you can cut back on this expense by packing your kitchen as close to last as possible. Especially if you have quite a bit of warning, make sure you leave your kitchen to one of the last things you pack right before you move instead of packing it up a week before you leave. You’ll save money by not eating out as often and you might be able to finish up some things in your fridge and pantry so they don’t go to waste and so you don’t have as much to pack.

Once your kitchen is packed up, you might think you have no choice but to eat out, but this is not necessarily the case. You can still have a loaf of bread and a jar of peanut butter that you keep nearby for a quick and easy meal or two. Peanut butter sandwiches aren’t exciting by any means, but keep in mind it’s only temporary while you are packing and moving. Plus, it’ll save you a lot of money vs. eating at a restaurant.

3. Ask for Reimbursement

If your company has requested you transfer to another position requiring you to move to another city or state, check with the human resources department to find out what the policy is for transfers. You might find that they will pay for at least a portion of the move, and possibly even all of it. Next, find out what is covered and make sure you have it in writing. Additionally, if you have special needs, try negotiating to see if they will cover these expenses as well.

Even if you are switching to a new company instead of just transferring positions, you may still be able to get some of your moving costs covered by your new employer. It’s definitely worth a shot to ask!

4. Get a Tax Deduction

Did you know you can sometimes get a break on your taxes when you move? Certain conditions must be met, but if you qualify this is a good tax deduction to take advantage of. One conditions is that the move must be work related. There are other requirements as well, but it couldn’t hurt to check with your tax preparer to find out if you qualify. Do it before you move, so you know what receipts to save and what expenses could be deducted. Taking the extra time to do this may save you some money in the end.

5. Have a Sale or Donate

Almost everyone has items they no longer want or need. If you have several things you would get rid of rather than move, consider having a yard sale. You could gain a little extra cash to help pay for some of your moving expenses. Plus, if you’re using a moving company that charges by the hour or by weight, you’ll save money by having less stuff to transport from your current home to the new one.

The best yard sales are the ones that are the most organized, so it can be quite an undertaking to try and have a yard sale while packing and preparing for a move. If you really can’t swing it, you could still donate some of your stuff instead. This way you’ll be helping people in need and you might even be able to get a tax break based on the value of your donation.

6. Use Free Supplies

I was shocked at how many people went and bought boxes from a home store, like Home Depot, when it was time to move out of the dorms when I was in college. As a broke college kid, I couldn’t fathom paying for boxes when you could get them for free instead.

Even after college when I moved, I hunted for boxes everywhere I could think of. I got free boxes from the grocery store, from retail stores, from liquor stores, and more.

You can also make use of some of the things you already have for padding and protection while you are moving. Use your towels, blankets, pillows, sheets, and even clothing to help protect fragile items when you move. This should cut down or eliminate altogether the need for bubble wrap or stuffing. If that’s not enough, you can also hunt around for old newspapers people are likely to throw away or recycle anyway. Take them off their hands for free!

7. Label, Label, Label!

Did you remember to label and number your boxes? How does this save money, you ask? It has often been said that time is money, and in many ways, this is true. So if you don’t want to experience the frustration and loss of time and, therefore money, keep a couple of sharpies on hand you can use to label your boxes based on what room they go into. This will help not only you, but also anyone helping you move so boxes are put in the correct location when they arrive at your new home. Plus, you’re less likely to lose something and have to replace it.

Moving is hard work, but it can be done economically. Hopefully you find the tips above helpful to you in your quest to move from point A to point B. Better start packing!
Have you done anything else to help cut down on the costs of moving? I would love to learn from you, so please leave a comment below!

-Kayla

If You’re Lovin’ it, then Please Help Share it!

As always, I first want to thank you for reading this blog because this means you are reaching for awesome with your money! I will keep putting content out there for anyone to gobble up and implement right away, however if you could help me out by sharing this post on your favorite social media platforms, it would mean the world to me! Just click on any of the social share buttons at the top or bottom of this post and you’ll be giving me a virtual fist bump, high-five, and a pat on the back. Thank you again and again!

-Chris Peach

#nojudgement

But when you’ve given in to an unplanned splurge, you shouldn’t give up on budgeting altogether, just move on. But how do you do that? Here are some ways you can bounce back after an unplanned splurge, and get your budget back on track.

1. It Happened – Face the Facts

The sooner you admit you went over your budget, the sooner you can fix it. You know that cliché that says admitting the problem is half the battle? Well, it’s actually the truth 🙂

Feeling guilty about the splurge is only natural, but agonizing over it is simply a waste of your time. You’ll still have to face it at some point. If you ignore it, you’ll compound the problem, and you can’t undo what has already been done. Therefore, stop putting it off, look at the bill, and figure out the damage to your monthly budget. This is what Peach refers to as behaving like a real-life adult.

Related: How to Start Your Budget

2. Create a Plan of Action

Depending on your budget and the amount of money you just overspent, you have choices. You can cut back in a few places in your budget, or you may have to do a budget makeover. It all depends on how bad the splurge was!

Here are some ideas to get you jumpstarted:

If you have cable, you could turn off the extra channels and keep the absolute basic plan. Or you could do the unthinkable and cut cable off all together! You might find that you don’t miss it that much since there are so many cheaper alternatives available out there to keep your TV on at a fraction of the cost of cable.

Related: How to Save $100/month for Live Television

However, if you just can’t live without your favorite show and it’s not available on streaming services like Netflix, Hulu, etc., you can still make cuts in other ways. Stop paying for your gym membership and exercise on your own. Or, stop spending money in restauants this month. Put that money toward paying off the bill you owe and when it’s paid off, bank that same payment amount for future unforeseen expenses or splurges so it doesn’t happen again.

If you spent more money than you can absorb within your budget, could you find a way to make some extra money. Some options include getting a second job, selling things you no longer need or use to cover the added expense, or taking on some other type of side hustle.

Related: 80 Side Hustles to Make Money NOW

3. Create a Sinking Fund for Next Time

Now that you’ve figured out how you are going to take care of your budget blow out this time, how can you prevent it from happening again? Have you though about opening a savings account for future splurges?

This would be separate from your emergency fund as splurges are NOT a true emergency. Set aside just a little money each month and you’ll be surprised how quickly it adds up. Better yet, you could create a sinking fund to allow you to cover for a splurge every now and then that’s expected instead of unexpected. However you choose to address it, you should make saving a part of your regular budget so you don’t end up in the same situation again when the next unplanned splurge happens.

Related: Peach, What the Heck is a Sinking Fund?

[av_promobox button=’no’ label=’Click me’ link=’manually,https://’ link_target=” color=’theme-color’ custom_bg=’#444444′ custom_font=’#ffffff’ size=’large’ icon_select=’no’ icon=’ue800′ font=’entypo-fontello’ box_color=” box_custom_font=’#ffffff’ box_custom_bg=’#444444′ box_custom_border=’#333333′]

Chris Peach Pro Tip

I’m sure you think that this Chris Peach guy has never overspent, splurged, or gone off the rails on the budget before because he is the Money Peach!

Ha! Believe it or not, life happens to Andrea and I just like life happens to you. I’m not talking about true emergencies, but I am talking about those moments when you simply lose a little bit of control on Amazon or my absoulte favorite:  We tell ourselves we deserve it right now because we work so hard. 

Yeah, we’ve been there…..way more than we like to admit.

The “Blow” Fund

No, this has absolutely nothing to do with a bad drug habit 🙂 This is the category we have in our budget each month that protects ourselves from that little voice in our heads that tell us to, “Buy it, you are so special, you work so hard, and you deserve it.”

What’s our “Blow Fund” look like?

$60 Cash
[/av_promobox]

Now that you have taken care of your current unexpected splurge and developed a plan to break the cycle, you should be in a better financial position the next time you give in to an unplanned splurge. Yes, being human, you might falter again. (I’ve definitely given in and bought shoes I didn’t need more than once since I started budgeting.) But if you do, use the same principals to fix the problem and plan for the future. The sooner you start, the better your tomorrow will be.

What’s the last thing you splurged on? How did you take care of the extra spending?

-Kayla

Lovin’ this Stuff?! Please Share it With Yo’ Friends!

As always, I first want to thank you for reading this blog because this means you are reaching for awesome with your money! I will keep putting content out there for anyone to gobble up and implement right away, however if you could help me out by sharing this post on your favorite social media platforms, it would mean the world to me! Just click on any of the social share buttons at the top or bottom of this post and you’ll be giving me a virtual fist bump, high-five, and a pat on the back. Thank you again and again!

-Chris Peach

Chris Peach Money Tip

When Andrea and I were saving for our emergency fund and sticking to our goal to pay off our $52k of debt, we had to stop the spending.

This meant no more fancy dinners at restaurants, no more shopping days at Nordstrom, no more random Home Depot trips, and no more vacations!

This was until we realized we could take some really cool budget-friendly vacations that cost next to nothing. Some things we took advantage of were Groupon deals in our area, camping (Andrea didn’t love this one), and a few small weekend road trips within our state.

The bottom line: Some of our best memories we have shared together were those budget-friendly road trips and the overnight stays at a resort we found on Groupon for 90% off.  Part of it was because we were saving money, and the other part was because we were saving money 🙂

Yes, you can still have (a little) fun when you’re getting your life and money back!

We did.

1. Share a Ride

If you are married and have several children, this might not be an option for you. However, if you don’t have a large family you might be able to team up with a friend for a less expensive trip by splitting the fuel costs.

What if can’t find anyone going the same way you are? Well then, you can go to erideshare.com to look for a travel buddy heading in the same direction. Keep in mind, you are taking a chance on traveling with someone you don’t know anything about so you do need to be careful if you consider this option. They do have tips about meeting with your new travel companion to make it easier for you, but the decision about whether or not to take a trip with him or her is entirely up to you.

2. Rent a Car

Prepare yourself – this option might require a little math.

In some situations, it may actually be less expensive to rent a car for your trip instead of taking your own. When contemplating renting a car for your trip, you need to take several factors into consideration, such as the distance you are traveling, how old your vehicle is and how much maintenance it needs, the cost of fuel, depreciation of your vehicle, miles per gallon of each vehicle, cost of the rental, and coupons or discounts on the rental. By doing this homework, you might find renting to be a more economical option for your summer road trip.

3. Food

Bringing your own food can cut down the expense of a road trip significantly. Take a cooler for any cold items and a box packed with the items that don’t require refrigeration. When you get low on something, pick up a few items at a grocery store instead of eating at a restaurant. Doing this will save a bundle.

4. Lodging

If the weather is nice, pack a sleeping bag and just unroll it wherever you stop. Or, if that doesn’t appeal to you, consider exchanging a stay in your house with a stay in someone else’s at your destination.

Homeforswap.com is just one of the many internet sites offering this service. If you are on your way to see someone, maybe you can couch surf on the way there and stay with them while you’re there to cut back on expenses. You could also stay at an Airbnb to cut back on lodging expenses.

5. Activities

You can save money on activities by choosing entertainment that is free or relatively inexpensive. Go for walks or check out any historical sites in the area and learn about them. You can learn more about the area without shelling out a lot of cash. Museums and other attractions in large cities may also offer free or reduced price admission on certain days of the week or after a certain time of day, so that’s an option to consider as well.

With proper planning, budgeting and preparation, it is possible to take a road trip vacation this summer without accumulating additional debt. So, pick a destination and start packing!