Date Night without Debt

Being married is hard work, especially if one or both of you are working long hours, leaving for TDYs or deployments, and maybe you've got kids as well.  Many experts recommend that you make an effort to spend some extra nice time alone with your spouse.  Wait, you say, how can we do that?  We don't have a babysitter, we don't have money, we don't have time!

I can't help you with the time, but I can help with the other two. First, the childcare.  If you can't afford a babysitter, or you can't find one, check with friends, neighbors or relatives (if you are lucky enough to have some nearby.)  Maybe they would be willing to watch your children occasionally, or swap babysitting with you.  (You take their kids this week, they take your kids next week.)  Check with your base to see if the chapel or youth services offer any programs, and also check with your church.  Maybe a young childless couple in your unit might think that babysitting would be fun.  Childless spouses of deployed servicemembers might enjoy the opportunity to make a few extra dollars, as well.

Once you've freed yourself for the evening, you'll need to figure out what to do.  The usual "dinner and a movie" can easily cost $50 (or more!), so you'll have to be creative to stay within your budget.  Jen at Millionaire Mommy Next Door has made a list of 52 suggestions for cheap dates. I love having her suggestions, even if some of them don't interest me. Some suggestions that I would add to Jen's list include:

• go to a high school sports event
• look for dance classes on post
• get take-out (a treat, I know) and eat it somewhere you wouldn't usually eat.  Even your front porch will do, if you have the right attitude.

I'm sure that you have some great suggestions as well - so let's hear them!

A Wealth of Resources

On a recent trip, I picked up a copy of The Flagship, the Hampton Roads area's Navy newspaper.  I was amazed at what I found inside:  a huge list of the many classes offered by the Fleet and Family Support Centers.  The calendar covered about two weeks worth of classes, and there were 8 classes offered that dealt just with financial issues, and several other classes that touched on finances as part of the class subject.  I felt like a kid on the outside of a candy store:  so many classes, but I don't live in Hampton Roads.  Inspired, I began looking in my own area for similar offerings.  I live between two installations, one small and one large (but not huge.)  The smaller base seems to offer a couple of financial education classes a month.  The larger post has a ton of classes available.

I encourage you to investigate the financial education classes and services offered by your base/post/barracks/whatever.  They are a great resource for learning, plus they are free!

From the Mailbag

Recently, a friend emailed me to vent about the cost of an FRG event.  She explained the event and then the cost (which was a lot.)  She said that she had declined the invitation due to the cost, and she sounded a little angry at being asked to attend something so expensive.  She also asked if she was being unreasonable.

This stimulated a lively debate amongst our group, and got me thinking about some of the incidental costs of being a military family.  Whether it is a required new uniform item, attendance at a social event or paying into a coffee fund, there are some expenses that are unique to military families.  Even expenses that also sometimes occur in the civilian world are often mandatory in the military.

Who decides about these expenses, and who decides what is optional and what is mandatory?  The answer is different for each individual item.  Obviously, we don't have control over uniforms. We might, however, be able to influence the types of events that our FRG plans, or be the person who goes out and finds a way to offset expenses that come up.  Sometimes, as my friend did, we can be the person who stands up and says, "That is a little out of my budget."

I'm curious:  Do you find that military life makes unusual financial demands?  How do you handle them?  Do you have any advice for the rest of us?

Fun and Free in Hampton Roads

On a recent visit to Norfolk, I was searching for a free activity for a Wednesday night.  I discovered that the Chrysler Museum doesn't charge admission on Wednesday, plus it is open late and features jazz music in addition to the already fantastic art collection.  I highly recommend it if you find yourself in the Hampton Roads area!

Why Pay More?

On a recent trip, I had the opportunity to go with a friend to pick up a few groceries for dinner.  I tend to be a pretty careful shopper, comparing prices and clipping coupons.  I know that my friend isn't like that, and I didn't expect her to compare the relative prices of the various sized container, or consider the merits of the prepared, salad bar veggies versus the produce department selections.  However, her blatant disregard for anything that even vaguely resembled price-consciousness shocked me.  What, you may ask, does it take to shock me in the supermarket?

When we entered the store, we started in the produce department.  There were numerous varieties of tomatoes displayed side-by-side, with prices varying by several dollars per pound.  She spent approximately 30 seconds looking over the display, without looking at the prices, and rapidly selected the most expensive variety.  Also in the produce aisle, we picked up some packaged heads of romaine lettuce.  The name brand and the store brand were side-by-side.  My friend grabbed the more expensive name brand and kept on walking.

Then, we moved to the center aisles.  She picked up a jar of pasta sauce and put one of them in the cart, completely disregarding the "Buy One, Get One Free" signs plastered all over the shelf.  In the next aisle, she picked up two boxes of pasta.  Attached to the front of one box was a cents off coupon for two boxes of the exact same pasta she was buying.  At no time did she remove the coupon and receive the discount offered.  Instead, the coupon remained on the box through check-out, all the way home and remained on the box when it went into the trash can at her house.

Further along, she picked up a small package of shredded cheese.  Sitting directly next to the cheese that she purchased was a bag twice as big, priced lower than the smaller bag.  I'm pretty sure that she never noticed.

I know that I can get a little carried away with the comparison shopping, and some of my friend's choices may have been based upon something other than price.  However, she easily spent twice as much money for significantly less food because she didn't even look at the prices on any of the products.  I'm sure that she is not the only person who shops this way, but it really stunned me.  I'd always thought that everyone tried to get the best price that is obviously available.  I can't really understand why anyone would choose to pay more than they have to, can you?

A Tricare Tip

MaintToad1, over at SpouseBUZZ, has written a great post about continuing medical coverage for your children who are aging out of Tricare coverage.  This information is specifically useful if your child has a chronic or urgent medical condition that will make it difficult for them to obtain adequate coverage on their own.  Click on this link to get the scoop on this valuable benefit.

An A+ for Packing Lunch

My kids went back to school this morning, and with them went four lunch boxes full of inexpensive, healthy food.  I had gotten a little lazy last year, and they ate many school bought lunches, but when the price of school lunches went up to $2, per child, per day, I realized that I needed to start packing again.  That would be $40 a week just on lunch!  I know that I can pack a lunch for less than that, so I started making a plan.  Here's what I've done:

1.  Make sure you have the right supplies.  In my case, we needed four new lunch boxes.  (See this post for ways to save money on these.)  I also invested in a set of inexpensive but very heavy duty, non-disposable plastic utensils.  It was really bothering me to put disposable plastic spoons in lunches every day, but I wasn't about to put my real silverware in there either.  I figure this is a good compromise...hopefully, they will come home to be reused.  If one accidentally gets thrown away once in a while, it won't be a tragedy.  I also stocked up on little containers and assorted size baggies.  I still need to buy two new thermoses and two water bottles, somehow we ended last year short of both those items.  (I'm sure you can imagine how that happened.)

2.  Ask your kids what they want to eat.  I actually handed out index cards and demanded a list of items that they wanted to see in their lunches.  I insisted that they include some things from each of my own personal lunch food groups:  protein, grain, fruit and vegetable.  I keep these cards in the same drawer as my baggies so that I can pull them out while I'm packing.  I think it is crazy to eat pepperoni, cold pancakes or whole tomatoes for lunch, but it isn't what I think that matters.  As long as it is reasonably  nutritious and my kids will eat it, I'm willing to pack it.

3.  Purchase large containers of items and divide them yourself.  Homemade popcorn is a very inexpensive substitute for chips, veggies are easy to package yourself, and water in a water bottle is an economical and healthy alternative to juice pouches.  With that said,

4.  Consider splurging on a few sweets or packaged items that seem frivolous.  If an occasional container of pudding makes my kids love to bring lunch from home, then that is worth it for me.  Some items are actually the same price or less expensive in the smaller containers.  At my commissary, cottage cheese is nearly the same price in the individual sizes.  Given the messiness of cottage cheese, I'm glad to let the company do the pre-packing for me.

5.  Make it easy to eat.  Peel oranges before slipping them into a bag, cut up apples, and make sure your child can open the containers easily.  Some lunch rooms don't have much adult help and your child will be frustrated if they can't open the thermos of soup at lunch.

Here's a link to one of the many internet newsletters about packing lunch.  Hope you find it helpful!  Don't forget, you can pack the grown-ups lunch, too.  Most of us have access to microwaves and refrigerators at work, making the job that much easier and allowing lots of tasty choices.

With a little bit of pre-planning, packing lunches can be easy and fun.  Please pass along your lunch box suggestions!

School Shopping Tips from Military.com

Elsewhere on the Finance channel, Military.com give three good trips for keeping your back-to-school costs down.  Click here to read the complete article.

5 Ways to Save on Restaurant Meals

Whether you're eating out because you're on the road, or as a treat for your family and yourself, restaurant meals can be expensive.  Here are five easy ways to keep the bill manageable:

1.  Discounts:  Ask if the restaurant offers a military discount. Ask about kid's menus, early bird specials, or other promotions.

2.  Order from the appetizer menu:  Especially at dinner, where your meal may include a salad, side dishes or other items that you don't need, consider ordering an appetizer or soup and salad instead of a full meal.

3.  Look for coupons:  Local tourist magazines, discount books (the Entertainment book is one example) or online coupons can offer great deals on restaurant meals.

4.  Don't order drinks or dessert:  Some children's meals come with drinks, in which case I let my kids splurge on hot chocolate or lemonade.  Otherwise, we usually offer them the choice of milk or water.  I don't mind paying for the nutrition of milk, but I don't often allow my kids to order soda or juice in  restaurants.  I'm amazed at how expensive drinks can be - one local restaurant charges $2.79 for a soda.  For my family of six, that would be more than $15 in soda alone.  And for dessert, we can enjoy a box of ice cream sandwiches from the grocery store for much less than the cost of restaurant desserts.  (Again, if they are included in the kid's meals, then that is a treat for them.)

5.  Go out to lunch instead of dinner:  Lunch prices are almost always less expensive than dinner prices, even if the item is exactly the same.  Some lunch portions are smaller, but they are usually still plenty of food.  You can save a lot if you make lunch your special time to go out.

Armed with these five tips, you should be able to stretch your dining dollar.

A Pile of Personal Finance Resources at SpouseBUZZ

Over at SpouseBUZZ, Love My Tanker has compiled an amazing collection of personal finance information.  Head on over and see what she has to say!

Lower Your Interest Rates

If you carry a balance on your credit card, you need to make sure that you are getting the lowest possible interest rate on that card.  I usually call my credit union about twice a year to make sure that I am getting their best possible rate.  Eventually, you will have the lowest rate possible.  Until then, keep calling and asking them to lower your rate.  You will save interest money and hopefully pay off that debt a little faster.

Snacking on the Road

My family has spent a lot of time in the car this summer.  One PCS, one visit to the grandparents, one visit to Dad, who was TDY, plus various shorter trips to see other relatives and friends.  Along the way, there have been a lot of meals and snacks.  I understand that eating is necessary.  However, I get frustrated because it tends to be expensive.  We've been experimenting with various ways to have tasty, easy and enjoyable food on the go.  There are three basic choices:  bringing food with you, buying restaurant food, or buying fresh foods.  Let's explore each one:

FOOD FROM HOME:

Pros:  Can be inexpensive.  Can use food that might spoil while you're gone.  Doesn't require stopping while driving (though you may choose to stop).

Cons:  Requires preparation.  May need to be refrigerated.  Takes up space in the car.  May result in car trash (ugh!)

Ideas:  Sandwiches, fresh fruit & veggies, dried fruit, nuts, popcorn, crackers, rice cakes, pretzels, bagels, granola bars.

Thoughts:  We finally purchased a small cooler that plugs into the car.  It has kept our cold things cold and made bringing our own food more practical.  It does take up room in the car, however, and you have to be careful to make sure not to run down your battery.  (Yes, I've done that.)

BUYING RESTAURANT FOOD:

Pros:  Can provide a break from the car.  Doesn't require preplanning.  Easy to please a variety of tastes.  Usually clean restrooms.

Cons:  Expensive.  Time consuming.  Often unhealthy.  Disagreement over restaurant choices (in populated areas) or difficulty finding a restaurant (in less populated places.)

Ideas:  Local restaurants can provide variety to the usual fare.  However, picky kids can be comforted by familiar choices.  The choices are endless:  national chains, Chinese buffets, pizza parlors, BBQ restaurants, delis, or local favorites.

Thoughts:  Whether a sit-down restaurant or a speedy drive-Thur, restaurant food can be expensive and unhealthy.  Consider picking one meal a day for your big break from driving.

BUYING FRESH FOODS:

Pros:  Fresh food.  Doesn't require refrigeration.  No preparation before leaving home.  Excellent variety available.

Cons:  May require supplies (utensils, cutting board, knife, napkins.)  Can still be expensive.  Time consuming if you don't have a plan.

Ideas:  Veggie trays, salad bar items, cheese and crackers, fresh fruit, yogurt or cottage cheese, sushi,  ice cream treats.

Thoughts:  My family love to go groceries for snacks or meals.  I think that we usually make good choices and don't rely too much on junk-type food.  Splurge on Prue-cut fruits and vegetables or single-serve size products.  Consider keeping a stash of paper goods, a cutting board & a good knife in the car.

I'm sure there are lots of ideas that I haven't even considered.  Please share your frugal strategies for eating on the road.  Together we can keep those meals from breaking the budget.

Budgeting for Help

My husband is getting ready to deploy early next year, and he will be gone most of the fall in preparation. I've been tweaking our budget to reflect the changes that his absence will bring: a little less money on food, a little more for babysitting. Less on gas, more on babysitting. Less on car insurance, more on babysitting. Did I mention babysitting?

One issue that comes up every deployment is whether we should try to make room in our budget for help around the house. I can usually convince myself that a cleaning person isn't worth the money, but yard work is another issue. I've been trying to rationalize, from a purely financial perspective, how it makes sense for me to hire a person to cut my yard. It costs me $50 to have my lawn mowed and it needs to be done about every two weeks. Okay, I admit it, it probably should be done more often, but I can justify the last five days of long grass because "the lawn guy is coming in a few days." Fifty dollars is a lot of money, but what would it cost me to do it myself? (Keep in mind that I'm trying to make a case for this expense, so my numbers might be a little skewed.)

First, there is the time. We have a pretty big lawn, and I'm not a fast mower. I figure easily an hour just for the mowing, and then I'd never get around to stuff like edging or sweeping. I don't make anywhere near $50 an hour, so what other costs do I need to consider? From what I can figure, it uses about 1/2 gallon of gas to mow my lawn, plus more for the edger and blower, so I can add at least $2 to the bill. We just purchased a new lawn mower, so that expense is taken care of. However, I do know that even a simple trip to the lawn mower repair shop can cost nearly as much as a new mower. I've estimated that our lawn mower goes into the shop every 2 years, at an average cost of $75. Figuring bi-weekly mowing for for seven months a year, that is $75 every 15 mows, or $5 per mow.

I can't figure out any more actual expenses, and I'm still searching for a "good" reason to justify hiring someone to cut my grass. How do I calculate the value of not having to worry about that job? I find it really hard to do that. What I do know is that I feel so much more relaxed when I'm not worried about how long my grass has grown. I leave my house several times a day, and I feel tense each time I return if the lawn looks terrible and I know that the only person who can fix it is me.

Obviously, our specific financial situation is a factor as well. While we don't have a lot of spare cash lying around, I think we can manage the expense of having the lawn cut without making the rest of our budget unworkable. There have been times in my life when the decision would be more difficult for purely financial reasons. At this point, I'd rather work a little more than have to worry about the yardwork.

Rent, Buy, or Base Housing: A PCS Question

Every PCS, military families are faced with the same questions: Should we live on base? Should we try to buy a house? Should we rent a house off base? Occasionally, the choices are limited - maybe the wait for base housing is longer than your tour, or maybe you aren't in a position to buy a house. Other times, you have to carefully consider all three choices and figure out which is going to work out best for you.

Admittedly, civilian families have to make the same choices when they move. However, they don't tend to move as often or as far as military families. Society seems to emphasize home ownership as economically sound and immensely rewarding, but there are many factors that can make buying a home more expensive and more stressful than renting or living on a military base. There are numerous online calculators that can help you crunch the numbers, but what other things do you need to think about before you choose your new home? There are a million questions to ask yourself; here are a few to get you thinking.

What is your housing allowance?

How much is rent in your new community?

How much do houses cost in your new community?

Do you have savings? Will you still have savings after a down payment?  Do you have debt?

How long will you be in the area? How sure are you?

What are taxes? How much will they rise? What about other fees & mandatory utilities?

If you have children, how are the schools?

How far is it from work?

Will you be absent frequently? What about security?

Do you enjoy privacy or a neighborly atmosphere?

Do you know how to do maintenance? Do you enjoy it?

Do you have pets?

How much room do you need? Could you use less? Could you use more?

Do you have a large family? Are you single? A couple with no children?

Do you like to entertain large groups?

Do you like amenities such as a pool or exercise rooms?

What kind of military housing is available? Where is it located? Is it near your work? Is it in a safe area?

These are just a few of the questions that you need to ask yourself before you make a decision. There are many websites that discuss the pros and cons of each, but so far I haven't found any that address military member's unique situation. Even with the guidance of such sites, the choice is a very personal decision based on so many factors. My family has chosen each option at least twice in the 9 places we've lived and we have to make a new decision each time we move. I would love to hear what you think!

Points Are Everywhere

It seems that everywhere I look, there is another bonus card/points program/extra value club to be joined. I've signed up with the obvious ones, like the grocery store and the pharmacy. But what about more obscure programs? Are they beneficial or just a lot of work for little reward? Here's my experience signing up for a local newspaper's points program:

Shortly after we arrived at our new home, I subscribed to the nearest big city newspaper. Included in my "Welcome Kit" was a set of "Points" Cards and a brief letter that promised great rewards for using their Points Program. I went to the website to find out more. I first had to register as a newspaper website user, providing my address and other information. I then clicked through to the Points section of the website and registered again as a Points member. My initial efforts earned me 1505 points. I wondered what that was worth, so I selected the redeem points button and was pleasantly pleased to discover that this little effort had yielded enough points to purchase half of a $10 gift card at several merchants.

Now that I knew that 1500 points was equal to approximately $5 of value (and thus a point is worth about 3 cents), I explored the other various ways to earn points. The website suggested that you could link their program with other local retailers cards. I entered my card numbers for the local drug store and grocery store, where I will receive 5 points for each transaction that is made with the store's own club card. It took two tries to get the card numbers to enter. I then tried, unsuccessfully, to link my internet service provider to my Points account. The website repeatedly informed me that I was entering an incorrect account number. I guess I'll have to make some telephone calls if I want to earn that 5 points (15 cents) per month. This certainly isn't going to make me rich but it is an added benefit for shopping that I'm already doing. I estimate that I go to the drug store once a week and the grocery store twice a week, so that is nearly fifty cents a week for shopping that I'm already doing. There are a number of other merchants that offer 5 or 15 points per transaction. I suppose that I might earn some points that way if they have a great big sign advertising the program. Otherwise, I'm likely to forget that a particular retailer is participating. Plus, I would need to have my Points card with me, and I don't carry these types of cards unless I'm planning to use them. I don't imagine that I'll earn many points through these participating retailers.

So, how else can I earn points with this program? Each day there is a question about the daily newspaper's content. A correct answer will earn you five points, and you are given multiple chances to select the right multiple choice answer. You an also earn points for visiting the newspapers website, posting a resume, or writing a review for the paper's online guide. I don't see myself posting a resume or writing a review, but I do visit the website occasionally. I might earn another 50 cents a month that way.

All together, the process of registering with this Points program took about 15 minutes, for which I earned about $5 worth of points. I foresee earning about $2.50 a month in credit for doing my usual activities. If converted into gift cards, that would be about $30 a year after the first big bonus has passed. Not bad for 15 minutes worth of work.

I'll keep you up-to-date as I continue to use this program. I encourage you to investigate any such opportunities that you find...they might be worthwhile. Let us know what you find!

The Reasons I Tell Myself It Is OK to Spend Money

I recently came across a great post about spending at Living Almost Large. She's got a long list of reasons that people use to justify their spending. Here are mine:

• I’m going to need that someday.
• Whatever it takes to make it through deployment (or TDY, or PCS.)
• This is going to save me a lot of money. (Think sewing machine, or power tools.)

After you've read her list, come on back and add your own.

From the Mailbag

Karen from Korea wrote to me, asking about monthly household spending. In my experience, the best thing I have ever done to help with my regular, day-to-day spending is to keep track of it. A small notebook, a 3X5 card folded in half in your wallet, or a post-it note on the back of your debit card - it doesn't matter how you keep track, it just matters that you do keep track. I admit it, our family doesn't follow this advice as much as we should. It is the single best piece of advice I can give. You don't have to share the results of your tracking with anyone if you don't want to. There is some magic in the act of putting the expense down on paper that makes your spending decrease. I don't know how this works, but I know that it does work. If you are concerned about your common expenses, try keeping track of them for several weeks. I imagine that you will find your wallet a little fuller, and you might also figure out where you can make even more improvements to your spending. Give it a try and let me know how it goes!

Packing for the Road

Whether a cross-country PCS or a fun weekend trip, traveling is more fun (and a heck of a lot less expensive) when you're not stopping every hour to buy something that you've forgotten. I've been scouring the internet for packing lists and I've found a few good ones at OneBag.com, Rick Steve's website, at About.com, and at a site appropriately called Packing List Advice.

Here's my own personal list of things that I regularly forget (or purposely don't pack and know that I'll have to buy as soon as we arrive): zip-top bags, beach toys, a cutting board and knife, a wine opener, nail clippers, and paper towels and/or baby wipes.

Over the years, I have randomly begun working on various packing lists but have never made a good one. I can't even begin to figure how much time and money I've wasted wandering around some mega-store searching out last minute items. In the future, I think I'll just print off one of these lists and adapt it to my own needs.  Maybe that way I'll spend more time in the sun and less time in the stores!

Cheaper in Sporting Goods

I recently learned that good sunglasses can be less expensive in the sporting goods department than in the front of the big box stores, so I thought that I would see what other bargains could be found in the back of the store. Today we were shopping for lunch boxes and I was amazed what I found! Instead of $9.99 for a small, cheaply-made lunch box in the school supply department, we found sturdy, well-designed 6 pack coolers for $4.50, complete with removable hard insert and a second, expandable section. Flexibility and durability for less than half the price - I was so excited! I encourage you to check out the selection of items for sale in the less exciting parts of the store.

Debt, Savings or Retirement: Which Comes First?

So, you’ve finally gotten your spending under control and have a few extra dollars each month. Now what?There are three basic choices: paying off debt, retirement savings, or shorter-term savings. What is the best choice for you? Most experts recommend creating an emergency fund first, then paying off debt and then saving for retirement. But it isn’t that simple. There are many variables to consider. Before you make your decision, ask yourself the following questions:

Do you have an emergency fund? How much? What is the minimum amount of money you could survive on each month? Where are you in your military career: are you just in, nearing the end of an enlistment, or a few years from retirement? What are the chances that you or your spouse wull be without income for a few months?

What type of debt do you have? Credit cards, student loans, car payments, mortgage? Credit card debt should be paid off quickly, followed by car loans. Student loans fall into a gray area and require thoughtful consideration of your entire financial picture.

When do you expect your next PCS? Do you have any idea where it might be? Do you have any special expenses that you incur when you move? For example, we put our cats in the kennel each time we PCS and I know that I have to budget for that expense.

Does your employer match your retirement savings? For active duty military, there is no government match for your TSP contributions. If your employer is offering a match on 401k or 403b contributions, you want to make every effort to take advantage of this "free" money.

What is your insurance situation? Make sure that you have appropriate life, disability, auto, personal property, and liability insurance. Consider whether your family would benefit from a Tricare supplemental medical policy.

The answers to these questions will help you create a plan for your financial future. I suggest that you list things in order of importance to you. Once you’ve take care of the most important items, you can move down the list and work on the next parts. Be sure to review your plans periodically to see if you need to make any adjustments. A thoughtful plan will help you use your money in the best ways possible, and will also help you know what to do when a bonus or a raise come to you.

Using the Internet to Make Financial Decisions

Sometimes it can be hard to do the math that helps you make good financial decisions. Thankfully, the days of working out those tricky equations are over. The internet offers thousands of online calculators to help you make your financial decisions. Most banks and credit unions offer a variety of tools on their websites. I love the calculators page at Navy Federal Credit Union (you'll learn that I'm quite fond of NFCU in general.) If you don't find something to help you there, try a search on "online calculator" plus the type of calculation you are trying to make (mortgage, savings, interest, etc.) You may need to try a few to find the one that fits your needs but I'm sure that there is a calculator available for nearly every possible situation.

Saving Money Can Be Expensive

My family purchased most of our back-to-school supplies today. First, we inventoried the leftovers from last year, at least the ones that we could find (having just PCSed made that job a little harder.) In true geek fashion, I used the school's required supply list, Sunday's newspaper advertisements and the internet to create a spreadsheet listing how many of each item we needed and the various prices available at each of the nearby stores. Then we loaded up the van and headed to the big box stores that often seem to have the best prices on school supplies. This was the first year that I've let my children help with this project. Usually I sneak out after bedtime or get a babysitter when I do my school shopping. Bringing them with me added a new and interesting dimension to the shopping.

I had someone to run items to the price scanner for me, and I could ask a child to put "12 of those" into the cart while I turned to the next item on my list. Of course, we did end up with a few impulse purchases: I was (easily) convinced that the 20 cent plastic folders were superior to the one cent paper ones, and I splurged for the view style binders that allow you to insert your own cover page. However, the most interesting part for me was the discussions about how much of each item we should buy.

As you probably know, there are some great bargains to be found this time of year. Composition books that might cost $2.00 the rest of year can be easily found for $.50. Glue sticks are two for $.20 instead of nearly a dollar. As a result of the great sales, I like to buy enough to last through the year. I love knowing that I have a box full of school supplies ready to refill pencil pouches without late night trips to buy overpriced colored pencils at the 24 hour pharmacy. But how do you figure out how many pink erasers you will need to get four elementary schoolers through the year, and when have your savings stopped being a bargain?

While counting our existing stash, my daughter had noted how much glue we owned. Safely stored in (expensive) zip-top bags for storage and moving, we had about 25 bottles of regular white glue. On the plus side, we don't have to buy glue this year. However, we've moved that glue twice in the last 12 months, and it has taken up valuable storage space in between moves. It is possible that we've grown past the glue stage of school, or that the glue has dried out or otherwise gone bad. And I'm not even going to think about the possible disaster if that glue had somehow leaked into our household goods while they were being moved. Sure, I got a good deal on that glue, but is that good deal still a good deal if it dries out before we use it or it ruins my new sofa the next time we PCS? Even if it does go to school, are my children more careless or wasteful if they know that there are two dozen more bottles of glue waiting at home?

I don't know the answers to these questions, but I'm going to keep searching. I've finally learned that buying a case of pasta at the case lot sale isn't a good value if we have to give half of it away because we're moving overseas before we can eat it all. How do you decide if four extra pair of scissors are too many, not enough, or just right? Can you put a value on being well equipped, or can you put a price on the expense of having too much stuff in your closets?

There is also the idea of "opportunity cost." Sure, the $.50 composition book is less expensive than the same book at $2.00. However, the savings becomes blurry if I the $.50 I use to buy a book that I won't need until March could be used to pay towards a debt or save for retirement. The case gets even more complicated if you pay for your savings with a credit card. Also importantly, what if that $.50 composition book is never actually needed or gets damaged before it can be used? In that case, you haven't saved $1.50, you've wasted $.50.

I'm trying to find the balance between stocking up in appropriate amounts on things that we will use before our next move and overbuying on items that are unnecessary or won't store well. What kinds of things do you stockpile? Do you think that it saves you time and money or does it make your life more difficult and expensive? Where do you draw the line?

Impulse Spending vs. Smart Buys

I consider myself a smart shopper. I'm always on the lookout for a bargain and I often deliberate for months over something as simple as new sheets or a water pitcher. Even so, occasionally I get caught up in the shopping fever and buy things without thinking them through. Sometimes they're brilliant purchases and sometimes they're not so smart. Either way, I'm still spending money that I hadn't budgeted. Today is a great example. I went to Ikea to find curtains for a few windows in the house. I also knew that I needed a shower curtain. We've been in this house nearly two months and I'm not even close to being organized yet. We're having company on Friday and I'm hoping to get the house a little more together before then. So, on my curtain and shower curtain shopping trip, I purchased:

one pair of curtains for a room not on my list, three sets of curtains that I planned to buy, new curtains for my daughters' room (not on my list but needed anyway), three sets of tealight holders, sheets to make curtains for another room, lightbulbs for lights I bought last time, a new slipcover for a loveseat (my daughter convinced me that $11 was a great price for "exactly what she wanted." It's not "exactly" right, but it will do the job.) We also bought 13 new drinking glasses in the "as is" department, some lucky bamboo, and a six pack of cinnamon rolls. Oh, and two new bathroom trash cans. All told, we spent $190.00 on a trip for two rooms worth of inexpensive curtains. I even passed on the snazzy bathroom accessories that would have turned my boring downstairs bathroom into a showplace, and I still don't have a shower curtain for one bathroom.

Each individual item that I purchased was affordable, and they are all useful. Windows need covers and pretty curtains make a room look decorated. Bathrooms need trash cans. However, I spent a lot more than I planned. A lot of my purchases could have been postponed until another day, but Ikea is so far away from my house that I figure I'm saving money by not driving back a second time.

How do I decide what is a smart purchase and what is just another impulse buy? For me, there are a few questions: Did I actually use it? Did I "need" it? Was it truly a good price? Unfortunately, I haven't figured out how to answer those questions before I get out of the store.

How do you decide when to buy and when to pass? Do you always stick to a list? What are your criteria for making purchases? I'd love to hear what you think.

Follow-up Note: I've since decided that ALL the curtains are going back, except for the ones that I bought as-is and can't return. We've eaten the cinnamon rolls and used the slipcover, the tealight holders and the bamboo. I don't know how lucky it is but it does look nice. The trash cans, light bulbs and drinking glasses haven't even gotten unpacked yet but I'm sure that they will be soon. Now how do I think I did? Some of the curtains I should have known wouldn't work but I was convincing myself that they would be right once I got them home. Another set just looks too bright in my house. I'm not sure if these were avoidable shopping mistakes or not.