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In celebration of Earth Day, I wanted to talk about a few ways you can “green” your money. Going green is important not only for the Earth, but for your piggybank as well!

photo credit: Ha-Wee

1. Opt out.
Opt out of catalogs with Catalog Choice. Opt out of credit card offers. Opt out for receipts (some places ask if the amount is under a certain $ amount). Saves trees, and saves you money! You won’t look through the latest Pottery Barn catalog and talk yourself into buying a $50 pillow, or opening that card just because the offer came in the mail.

2. Make your bills paperless.
Gather your monthly statements (bank, credit cards, mortgage, etc.) and go online or call the company and ask to go paperless. Saves trees and time (no filing!), just make sure to keep a mater calendar on your desk or computer that has all the due dates. If you sign up online you can often set up email alerts, such as getting an email when your statement is ready. Well worth it, so you don’t miss any payments.

3. Set up Bill Pay at your bank or an online service (such as Mvelopes or checkfree).
Save on checks, stamps, and never have to wait again for a check to clear! You also save on fuel, though one tiny envelope isn’t much add it up over your adult life and that’s a truck full of paper that doesn’t have to be shipped.
Shred and recycle old documents/statements: You can recycle the paper, compost it, or, if you are creative, create your own handmade paper. You can also save time! Less digging when you look for something, and less space to store old paperwork equals more time for other endeavors!

4. Buy products with less packaging.
With food items, fresh seems more expensive, but will often save you in the long run. (not to mention the long-term health benefits that means less spent later on poor health due to poor nutrition)

5. Create a budget.
Less wasted money, and less waste of your most valuable resource: your time!

6. Use my 1 in:1 out rule.
Know what you need and only buy what you need. If you decide to bring home a “want” then purge 1 thing. Less stuff=less waste.

7. Use what you buy!
25% of food is wasted in most homes, make sure to create a plan every week to use what you have. If you find you have excess freeze it, if you can’t give it away. Most food can go in your compost bin, so if you don’t use it, turn it into prize winning soil for your favorite roses.

8. Give.
Give away what you don’t need and can’t use to someone that can, Goodwill, Salvation Army, Freecycle, or your local women’s or homeless shelter.

9. Buy used.
Cars, clothes, household goods, tools, really everything (but food)! Can be purchase used. Look at places like Freecycle, Craig’s List, yard sales or your local consignment stores.

10. Buy energy efficient, or eco friendly when you replace something.
When the washer breaks down, replace it with the most environmentally friendly model you can afford, and remember not to replace just for the latest eco-friendly options.

I’m sure you can think of tons more green ideas to give you more greenbacks. What are some of the ways you go green?

Kelly

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Reading FrugalDad’s post this morning over coffee and breakfast I started thinking about all the mistakes we’ve made in the past. I used to dwell on those mistakes and it would cause an inertia that made it seem like no matter what small progress we made it wasn’t enough. This would lead to feelings of despair, which would cause me to stick my head in the sand again. (you know that’s not good!)

By following other personal finance bloggers, and reading books like I Will Teach You To Be Rich, I have been able to see that EVERYONE makes stupid mistakes. Ramit even has a dedicated ING Savings Account called “Stupid Mistakes!” Brilliant.

Looking back at our mistakes almost makes me laugh now. My new perspective had me rehashing a few things we’ve done, and I realized that they all fall into 5 categories.

Making a budget with no room for “stupid mistakes”.

Whenever we tried to clean up our debt in the past we had a very strict budget, and inevitably ended up feeling deprived and spending more than we should have. Which leads to a vicious cycle of buckling down, feeling deprived, spending, and then paying it back by buckling down, etc. For me this also includes the inevitable unexpected bill/expense that we couldn’t handle without an emergency fund in place.

We get around this now by paying the kids an allowance, and allowing ourselves small treats. We also planned an evening out that is coming up this month (to see Flight of The Conchords in concert) and that allows us to look forward to something fun. I also pad our grocery budget slightly so we’ll be less tempted to eat out.

Spending before you have the money.

For most people this one will elicit a big, “Duh!,” but how many times have we talked about not buying on credit only to say, “but I really NEED this right now.” (said like a greedy 10 year old in a toy store) Don’t fall for your own double talk! I’m not saying cut up your credit cards, just use them wisely! Make sure you create barriers to purchasing things. Use a 24 hour rule, leave your cards at home, or think about where that money would go otherwise.

Turning down FREE money.

Ignoring your 401k is the most obvious example. We spent 2 years saying we would pay off debt first then start contributing before I wised up and did the math. The money we’d put in for the match wouldn’t make a big enough dent that it would matter.

Also by not taking the time to assess your expenses you are often throwing way more $ out the window than you think. (see my post on how I saved $17K)

Not educating yourself about the home buying/car buying process.

This is the largest purchase most people make, yet time and again you hear stories of how people are taken advantage of. People that sell cars and homes have a huge advantage over you. They do it every day, while you may buy a few homes in your lifetime and a car every 10-15 years. You need to invest your time as these are 2 of the largest purchases you can make and they will affect your financial goals the most over the course of your lifetime.

Not allowing yourself to have any fun.

I’m a big proponent of finding balance in your life. It is something having kids taught me early on. Make sure you make time for your spouse or partner, family or kids, and friends. Without people to share your successes with all the money in the world means nothing!

What was the biggest mistake you made with your finances?

My biggest mistake would likely be having a family so young, but that’s not something I can or would change!

Kelly