Every quarter, we try to take a step back and take a good look at how we are managing our money. Right around tax time is a great time to do that again – whether you are getting a refund or you owe (like we did). Either way, a good review of your finances and where your money is going is always a good practice. So, without further ado, here is our financial update for April 2023.

Changes in Our Finances Recently

There seem to have been a lot of changes in our family finances recently. Of course, my husband got a really great job last year and that’s helped us a ton financially. However, our needs and expenses seem to be continually changing.

We have to start thinking about daycare for our little one (she’s just too active these days for us to get our work done at home). That will be about $1,000/month expense – but I need to do some looking around. Additionally, clothes seem to be grown out quickly. We’ve had to make adjustments to the house due to all of the changes happening with our daughter. It’s a beautiful time in our life, but it’s also pretty expensive. So, we need to start planning around some of the changes happening there.

On top of that, I’ve been dealing with some pretty significant health issues. I have been having problems with my blood pressure and heart racing occasionally. This has led to a number of medical bills piling in, all about $300 each. We are on a payment plan for that, but it has had an impact on our overall finances for sure.

Additionally, I stepped away from a small writing job I’ve had for 1.5 years. It was a weekend gig and it didn’t pay me much (about $3,600 last year), but it is still a loss of income. I was also able to write more/do more with that job to increase my earnings. That’s not possible anymore. I’m glad I left for many reasons, but the bit of lost income always sucks.

Key Takeaways From Our April 2023 Financial Update

The key takeaways from our April 2023 financial update and review were this…

1. We really need to get our act together where spending is concerned. Seriously, we have been eating out way too much and spending money on things we shouldn’t. I’ll talk more about that next week!
2. We need to research daycares and pricing in our area as well as consider alternatives (babysitter, job changes, etc). I have a bit of anxiety about Dahlia going to daycare or having someone watch her, but I know it would help her learn things and it would also help productivity here at home.
3. Our overall debt has increased, due to what we owe the IRS and accumulating medical bills. This isn’t ever what I want to see, but we are working to pay it down.
4. Our main focus needs to be on paying off debt and padding our emergency fund. Our EF took a hit more recently, so we need to stack some money back up for that and we need to start paying more money monthly towards our debts.

That’s all for now. What did you think of our latest financial update? How often do you review your finances? Let me know in the comments!

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Amanda Blankenship

Amanda Blankenship is the Director of Social Media for District Media. In addition to her duties handling everything social media, she frequently writes for a handful of blogs and loves to share her own personal finance story with others. When she isn’t typing away at her desk, she enjoys spending time with her daughter, husband, and dog. During her free time, you’re likely to find her with her nose in a book, hiking, or playing RPG video games.

www.savingadvice.com

As my birthday approaches, my husband has been asking more about what I’d like as a gift this year. Now, since my birthday falls so close to Christmas, I don’t usually expect much of anything. This year, I asked for his help in creating a relaxing space in our home where I can wind down and feel at peace.

After a while, I thought more about it. People don’t invest enough time or money into creating a home that brings them peace. Usually, they are trying to create a home that looks Instagram-ready (or even just company ready). However, investing in a relaxing space in your home and putting more stock into utility than looks can go a long way.

Why You Should Invest in a Relaxing Space

When it comes down to it, many of us work from home these days. It can be hard to escape from your desk and whatever work you might need to get done. Even if you don’t work from home, having a relaxing space that is meant just for you can make a world of difference.

As a mom and a wife, it is hard to feel like anything is just mine. I wind up sharing my water, my food, my bed, and my space. People living in homes with their families often feel that way too. So, again, having that space set aside for JUST YOU can be amazing.

Think about what you would put in this space and consider how much you’d need to do to make it relaxing for you. For me personally, I’d love a big comfortable chair with an overhead tall reading lamp. A side table with a few books within reach and a yarn bowl would complete it. It’d also be ideal to have that spot near a window in our home.

Overall, it will probably cost less than $500 to put together, especially if I stick to Facebook finds. The price will be well worth the peace it will bring me. Not to mention, I’ll be less tempted to run out and spend money if I have an amazing space to curl up in with my books.

Utility Over Looks For Your Home

All in all, I suggest utility over cosmetic desires when it comes to buying things for your home. Think about how you want your home to serve you and buy furniture, electronics, appliances, etc. that further that purpose.

This goes for everything from investing in your relaxing space or getting what you need for your kitchen. Buy what works for you and don’t pay any mind to what’s trendy.

Similarly, buy things even if they aren’t pretty, especially if they’ll fix a problem for you. Baby proofing is oftentimes ugly looking, but it is extremely useful when you have a one-year-old wanting to explore everything. A shoe rack might not meet the eye well, but it holds all of your water bottles so you don’t have a pack sitting on the floor somewhere. Things like that can make a huge difference in your day-to-day life.

At the end of the day, investing in a relaxing space and investing in making your homework for you is always worth it. You’ll look forward to crossing the threshold every day.

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Amanda Blankenship

Amanda Blankenship is the Director of Social Media for District Media. In addition to her duties handling everything social media, she frequently writes for a handful of blogs and loves to share her own personal finance story with others. When she isn’t typing away at her desk, she enjoys spending time with her daughter, husband, and dog. During her free time, you’re likely to find her with her nose in a book, hiking, or playing RPG video games.

www.savingadvice.com

It’s Friday the 13th, which many people consider bad luck. There is a bit of history behind the number 13 and Friday the 13th. However, it got me thinking about financial superstitions that many people still believe to this day. Here are a few you may or may not know.

Why is Friday the 13th Unlucky?

Financial Superstitions

Because of that, there are a number of superstitions attached to the number 13 and Friday the 13th. Many people try to avoid doing anything considered to be unlucky on that day. There are a number of financial superstitions from all around the world. Below are seven that I’ve heard over the years.

#1 Itching Hands

Itching hands is one of the most well-known financial superstitions. If your left hand is itching, it means you’ll come into some money soon. At the same time, if you find your right-hand itching, it means you’ll probably come into money troubles soon.

#2 Tossing Money Into a Fountain

We’ve all tossed a quarter into a fountain and made a wish. Did it come true? Perhaps. This is another superstition that dates back hundreds of years to Europe. It was thought that clean water was a gift from the Gods. So, people left many people left money near the fountains to thank them.

#3 Sixpence in the Bride’s Shoe

Many people are aware of the superstition surrounding weddings – something borrowed, something blue, something old and something new. That last bit of that line has gotten cut off in more recent years but for a long time it was considered good luck to have a sixpence in the bride’s shoe. This was believed to help her have a prosperous marriage.

#4 Purse or Wallet on the Floor

In some countries, it is considered bad luck if you let your purse or wallet hit the floor. It is bad luck for your business and your finances altogether.

#5 Find a Penny, Pick It Up!

Another one of the better known financial superstitions pertains to when you find a penny on the ground. You are supposed to pick it up because it’s good luck. However, that is only if it’s heads up. Tails-side up and you should leave it be – it could bring bad luck.

#6 Spider in Your Pocket

I’d scream if there was a spider in my pocket, but this is another one of those pesky financial superstitions. Evidently, if you find a spider in your pocket, it means that you’ll be rich. So, maybe a happy scream would be in order.

#7 Don’t Gift Empty Piggy Banks

Last but not least, another financial superstition I’ve come across throughout my life is that it is bad luck to gift someone a piggy bank without putting money in it. When you gift someone a piggy bank, you’re supposed to put some change in there or a few dollar bills to wish them good luck with their finances.

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Amanda Blankenship

Amanda Blankenship is the Director of Social Media for District Media. In addition to her duties handling everything social media, she frequently writes for a handful of blogs and loves to share her own personal finance story with others. When she isn’t typing away at her desk, she enjoys spending time with her daughter, husband, and dog. During her free time, you’re likely to find her with her nose in a book, hiking, or playing RPG video games.

www.savingadvice.com

With the current state of the economy, it’s important for every family to do their best to save money around the home. This can help secure their financial future and make it possible for them to weather the years ahead, no matter how tough things get. Read on to see some of the methods that you and your family can use to save money around the home. These are going to prove to be some of the most valuable lessons that you learn about money.

Insulate Your Home Well

A home that’s properly insulated is going to be great for the environment as well as your energy bills. This is evidenced by the fact that a typical family spends roughly one-third of its yearly heating and cooling budget, about $350, on air leaking into or out of the house via gaps and cracks that shouldn’t be there. That said, perform an inspection of your entire home, especially around your doors and windows. If you find any cracks or gaps, either find a way to seal them yourself or talk to an expert to come and do it for you.

Maintain Your Home

While maintaining your home may feel like an expenditure that you can avoid, this is not the right move to make. That’s because when you ignore making fixes around the home that are necessary, you’re only postponing an issue that’s inevitable and giving it a chance to get a lot worse. Keep in mind that homeowners will, on average, spend between 1% and 4% of a home’s value each year on repairs and maintenance. These tend to increase as the house ages, with a home worth $200,000 costing at least $2,000 every single year. As such, you need to include home maintenance in your budget and you may end up making your maintenance expenditure regular and predictable.

Get the Right Window Treatments

Your windows can also play a considerable role as far as your energy bills go. With inefficient window glass accounting for 25% of the energy bill of a regular home, it’s clear that you can make savings by getting better window glass. Pair this with the right window treatments, such as shades and draperies, which will make a positive difference when used the right way. Closing them to prevent excessive sunlight from filtering into your home, for instance, will help you keep your home cooler. You’ll also keep your home’s interior looking good for a long time since UV can fade colors on upholstery and the natural finish of the wood. As such, you should spare some time to make sure that everyone in your family knows when to open and close drapes or shades if you install some.

Turn Off Unused Appliances and Lights

Finally, there’s no need to leave lights and electronics on if they’re not currently being used. This is because doing so means that they’re consuming energy while no one is actually using them. Your entire family can thus benefit from forming the habit of turning off any electronics that they’re done using. Take the savings a step further and buy power strips. These will make it easy for you to turn off all unused electronics easily and do away with the power-leeching that takes place when they remain on standby. You could also change your home’s bulbs to LED bulbs, which are going to be better as far as energy consumption goes.

With these tips, you and your family can make your home more energy-efficient. It’s worth forming these habits early on as your children will grow up knowing what they need to do to minimize energy use around their own homes.