Your Cheapskates Club Newsletter 40:17
In this Newsletter
1. Cath's Corner
2. In the Tip Store - Cables Galore; Saving on Air Freshener in the Bathroom; Cheapskating for Those Who Can't
3. Share Your Tips
4. 2017 Own Your Christmas Challenge - Week 1
5. On the Menu - It's Time to Make the Fruit Mince
6. The $300 a Month Food Challenge with Wendy - Making Room in the Freezer for Christmas
7. Cheapskates Buzz - Cheapskaters are talking in the Forum and on Cath's blog
8. Last Week's Question - How can I face up to my huge debt responsibly?
9. This Week's Question - How to convince a spender spouse to save
10. Ask Cath
11. Join the Cheapskates Club
12. Frequently Asked Questions
13. Contact Details
1. Cath's Corner
Hello Cheapskaters,
This morning our home smells amazing! I put a batch of fruit mince in the slow cooker overnight, and I have fruit soaking for the Christmas cakes and puddings. The house smells like Christmas, it's wonderful.
The Own Your Christmas challenge started this week, have you joined in yet? Good things, like a debt free Christmas, don't just happen, they are planned and those plans are worked to reach the goal. That's why we have the Christmas countdown each year, so everyone has the opportunity to plan to own their Christmas and then have the time to work the plan to reach their goal. I hope you'll all join the fun; wouldn't it be amazing if every Australian family could own their Christmas 2017?
Have a great week everyone (this is planning week after all).
Happy Cheapskating,
Cath
PS: Love our site? We love referrals! Send a note to your favourite newspapers, magazines, radio stations, TV stations, friends and relatives, and tell them about us!
2. From The Tip Store
Cables Galore
Instead of buying cable ties to tidy all your electrical cables that aren't being used but you need to keep, use the cardboard inner tubes of toilet/kitchen rolls. You can label the tube, fold up the cable and slide into the tube. Keep them neatly in a box and you can find what you need quickly. Saves space, time and money.
Contributed by Deborah Murthwaite
Saving on Air Freshener in the Bathroom
Everyone wants their bathroom to smell good. I clean houses on the side. One thing I have done for years is to take one of those little air freshener trees that people use in their cars (I usually use lemon scent) in the bathroom. I open the package up, use the little stretchy hanging part and put it on the knob for the water supply to the toilet. It's out of the way and helps the bathroom smell good. The cost of one Glade Plug in here is $2.98, I can get a 6 pack of those little trees for $4.34 (making each one 72 cents each), a savings of $2.26. They last for a while, you just move the plastic down every now and then. Depending on how many bathrooms you have it could get in to some money. I have 3 so for me it would be a $6.78 savings.
Contributed by Angie Steele
Cheapskating for Those Who Can't
For the past year or so, I have regularly picked up an extra item which is on sale or just cheap. It doesn't add up to much, but when I get a bagful I take it to the homeless shelter in Adelaide. It could be socks and undies, that cost very little, but are gratefully received. My next bag will contain packaged foods and toiletries. So, maybe think of those less fortunate and spend an extra couple of dollars that you won't miss, and donate them at your local charity to help Cheapskaters who can't.
Contributed by Frances Mavropoulos
There are currently more than 12,000 great tips in the Tip Store
3. Submit your tip
The Cheapskate's Club website is over 3,000 pages of money saving hints, tips and ideas. Let's get together and make the Cheapskates Club Australia's largest online hint, tip and idea library. Share your favourite money saving, time saving or energy saving hint and be in the running to win a one-year membership to The Cheapskate Club. We publish a Winning Tip each Thursday, so enter your great money, time or energy saving idea now.
Share your favourite hint or tip that saves money, time and energy and be in the running to win a one-year subscription to The Cheapskate Journal.
Remember, you have to be in it to win it!
Submit your tip
4. 2017 Own Your Christmas Challenge
He's making a list and checking it twice and you should be too! Cheapskaters have been making lists and checking and double checking them, and then owning their Christmases, since 2003, and this year is no different. We all want to be able to relax and enjoy the celebrations with family and friends, debt free.
Creating a Cheapskates style Christmas takes a little planning and a little action, a little creativity and a little determination, so let's get started on the 2017 Cheapskates Own Your Christmas Countdown.
We all know the best way to have a stress-free, debt-free Christmas is to start early (isn't that the way with everything?). The more you prepare now the more you'll be able to relax and enjoy celebrating with your family and friends. Imagine being the one who can sit back with a long, cool drink whilst everyone else is queuing for hours in the summer heat to pay exorbitant prices for gifts they are not entirely happy with. Puts a smile on your face already doesn't it?
Every week for the next nine weeks there will be new tasks and challenges to help you own your Christmas this year.
The details of the challenge are here, along with links to the Week 1 tasks and challenges.
5. On the Menu
It's Time to Make the Fruit Mince
I love fruit mince pies and slice, especially when they're made with this amazing homemade fruit mince. And it's easy to make too - it goes into the slow cooker, where magic is worked with the fruit and the spices, and in just a few hours you could be making delicious fruit mince pies (or just eating it straight from the pot!).
The secret to a good fruit mince is time. It needs time for the flavours to meld and blend. Aldi has mixed dried fruit for $4.99/kg this week - that's a brilliant price, up to half what you'd pay for the same elsewhere. And so, that's why it's time to make the fruit mince.
Slow Cooker Fruit Mince
Ingredients:
500g apples, cored and cut into small dice (no need to peel)
250g shredded suet
1kg mixed fruit
250g glace peel, finely chopped
350g dark brown sugar
grated zest and juice of 2 oranges
grated zest and juice of 2 lemons
50g slivered almonds
4 tsp mixed ground spice
½ tsp cinnamon
1/2 tsp nutmeg
150ml brandy
Method:
Combine everything except the brandy in a 6 litre slow cooker. Cook on low for 8 - 10 hours until fruit is very soft. Don't worry if the mixture seems to be very runny and swimming in fat - it should look like that. It's the suet. Sit the crock of mincemeat on the sink with a tea towel over it to cool completely. As the fruit mince cools the suet will coat the fruit and it will thicken. Pour in the brandy and stir. Spoon the mincemeat into hot sterilised jars and seal. As the mincemeat cools it will form a layer of fat on top - this is fine, it is supposed to do this. The fat will help to preserve the mincemeat. Mincemeat prepared this way will keep in a cool, dark cupboard indefinitely but I guarantee you won't need to worry about keeping it that long.
This is the fruit mince I use in mince pies and tarts and it can be used straight away, but it does get better with age. If you can wait about six weeks before you use it, you'll be thrilled with the results. The fruit mince will be rich and flavourful and oh so much nicer than anything you can buy.
This week we will be eating:
Sunday: Roast Lamb
Monday: Stuffed chicken legs & salad
Tuesday: Mushroom Pasta Bake
Wednesday: Honey soy chicken wings, fried rice
Thursday: MOO Pizza
Friday: Haystacks
Saturday: Shredded beef & gravy pan fried sandwiches
In the fruit bowl: lemons, bananas
In the cake tin: Fruit cake, orange cake
There are over 1,500 other great money saving meal ideas in the Recipe File.
6. The $300 a Month Food Challenge with Wendy
Making Room in the Freezer for Christmas
Good afternoon all. Welcome to a new week of trimming your food budget.
The weather is getting warmer and Summer is getting closer. It's time to get a stockpile of casseroles and leftovers in the freezer ready for the busy Christmas season. I know I'm probably a little early but I love to plan ahead of time. I have a few questions for you. Do you have room in your freezer for the casseroles and leftovers ? Or is it chock a block with no name mystery packages ? Are you planning a Summer veggie garden ? Do you have room to freeze the excess produce ?
I'll be the first to admit that my freezers have too much food in them at the moment. My girls are 20 and 17 and love to buy some of their own food to snack on. It's wonderful that they love to do this but I'm having trouble navigating my freezers.
So I thought it was time to do another freezer challenge.
For the month of October, let's all try to eat out of the freezer as much as possible. A great way to do this it to have a dig around in the freezer to locate those mystery packages. Place them all on a shelf or near the front so you can see them. Next step is to write them into your menu plan. By the end of May you should have some space in your freezer whether it be big or small.
Here are some benefits of this challenge -
* Might be a saving on your food bill.
* A trip to the butcher that you thought was urgent might be delayed for a week or two.
* A few nights off from cooking.
* Reducing household waste.
* It will make your freezer a little easier to organise with less to move around.
* Defrosting the freezer will be easier.
* It will give you room for those too hard to resist meat specials.
* You'll have room for leftovers etc.
* You'll have room to the Christmas meat when it comes on sale.
For the month of October, the threads I post will be a chance for everyone to report their progress. It might be interesting to find out what mystery packages you find.
I'll start off this challenge. Today I will revise my menu and add anything that needs using up in the freezer. I have lots of single serve leftovers that need to be eaten. I have lots of whole plums too. So plum cobbler will go on the menu and I'll need to make a batch of jam for presents.
Who wants to give the freezer challenge a go?
Have a great week and BE ENCOURAGED!!!!
The $300 a Month Food Challenge
The Post that Started it All
7. Cheapskates Buzz
Most popular forum posts this week
Decluttering Tally Game 2017
http://www.cheapskatesclub.com.au/memberforum/showthread.php?3480-Decluttering-Tally-Game-2017
Mixed Dried Fruit Ideas?
http://www.cheapskatesclub.com.au/memberforum/showthread.php?3639-Mixed-Dried-Fruit-Ideas
Cheap and easy Christmas Recipes
http://www.cheapskatesclub.com.au/memberforum/showthread.php?605-Cheap-and-easy-Christmas-recipe-s...
Most popular blog posts this week
Buy Reusable Instead of Disposable
http://www.debtfreecashedupandlaughing.com.au/2014/02/buy-reusable-instead-of-disposable.html
One is Enough
http://www.debtfreecashedupandlaughing.com.au/2014/01/one-is-enough.html
When One Partner isn't a Cheapskate
http://www.debtfreecashedupandlaughing.com.au/2014/02/when-one-partner-isnt-cheapskate.html
8. Last Week's Question
Last week's question was from MN who wrote
"I am in dire need of help with huge debt. My first issue is denial, unable to collect my mail out of letterbox knowing I will collect bills and I just don't want to see them. Is there any help in this situation? Thank you."
As usual we have had lots of answers for MN, both via the website and our Facebook page, but my favourite is the one below from Nick. Sound advice. Just remember, a financial advisor and a financial counsellor are not the same thing.
Nick Haggarty answered
Now is not the time for you to be seeking advice from strangers on the Internet! You need to immediately ring a free financial counsellor on 1800 007 007. These people are specialists in helping people in dire situations like yours. Do not contact a debt consolidation company, don't ask a financial advisor, do not pass "Go" and (sorry) don't collect $200. Financial counsellors have nothing to sell you. But allow them to guide you and they will change your life.
Angela answered
Don't be afraid, you can get out of this mess, but you'll need to work at it and be honest, with yourself and everyone else, especially the people you owe money too. I suggest you download the Bill Paying System and use it, especially the bill payment planning sheet and the payment push sheet. Then work out a payment push program. I always start with the smallest bill through to the biggest and work steadily towards paying them off. Contact all the creditors and explain the situation and ask for a payment plan. Have all the bill money automatically moved to a bank account you can't access immediately and then set the payments up to come from that account automatically each week/fortnight. Then be prepared to start saying "no" to going out, buying extra groceries, takeaway etc. Put any new clothes or holidays etc. on hold until you have paid your debts. It will take time, but once you are debt free, you'll be able to save. You'll also be in the habit of living on a budget and hopefully you'll stick with it and not go back to racking up debt.
MP answered
Oh I remember those days. But it needs to be faced. Start by collecting those bills, opening them and putting them in order of who needs to be paid first.
Start a spreadsheet or notebook and write down ALL that you owe, and the regular bills you have over the course of a year. In another column, write all your income. Work out what you could feasibly pay each creditor on a weekly basis to reduce your debt. Then work out what you can spare that can go towards the next bill, even if it's $5 or $10 per week.
Contact the creditors by phone or mail, and explain that you are having financial issues and need to extend your payment and offer them your payment plan. Basically they want their money and don't want to have to take you to court for it. Once confirmed, ask them to send that in writing to you. Set up direct transfers from your bank account.
Once you have spoken with your creditors, cancel all unnecessary items (e.g. Foxtel, and so forth) until you are back on top of things. Sit down with your family and discuss where you can cut costs e.g. power and water usage, take away dinners, use of car and heating/cooling, and so forth.
Get into the $300 a Month Food Challenge and do your best. I have lived on a low income for years, and know that fear, however you can manage it. It takes some commitment but basically companies prefer you to communicate and pay something rather than ignore and have the debt collectors after you.
Perhaps have a garage sale or car-boot sale of excess clutter, and put that cash towards your bills.
Be strong! Time to take control!
9. This Week's Question
Kate writes
"My husband and I have two small kids – 5-1/2 and 2 years old. I work 3.5 days a week and my husband works full-time. We have an investment property (we're paying interest only on the mortgage as our accountant advises) and we live in a rental property. My question is, do any of your members have any recommendations about how to save and create harmony when I VERY much want to save money to buy a family home for us to live in and my husband, who is a spender, isn't prepared to have a conversation about budgeting or saving? I know that $$ is one of the main things that people argue about and otherwise our relationship is great, but I want to have security for our kids and build towards our retirement."
Do you have the answer?
If you can help Kate, let us know. We'll enter your answer into our Tip of the Week competition, with a one-year membership to the Cheapskates Club as the prize too.
Send your answer
10. Ask Cath
We have lots of resources to help you as you live the Cheapskates way but if you didn't find the answer to your question in our extensive archives please just drop me a note with your question.
I read and answer all questions, either in an email to you, in my weekly newsletter, the monthly Journal or by creating blog posts and other resources to help you (and other Cheapskaters).
Ask Your Question
11. Join the Cheapskates Club
For just 10 cents a day you can join the Cheapskates Club and get exclusive access to the Cheapskate Journal, the monthly e-journal that shows you how to cut the costs of everyday living and still have fun.
Joining the Cheapskates Club gives you 24/7 access to the Members Centre with 1000's of money saving tips and articles.
Click here to join the Cheapskates Club today!
12. Frequently Asked Questions
How do I change my email address?
This one is easy. Members can update their email address or any other details by clicking on "Edit Profile" directly under their membership number after they have logged in to the Member's Centre. Subscribers to our free newsletter can use the Change Your Address form (under Customer Service in the menu) and fill it out. Once you've filled it in click the send button and we'll do the rest. Please remember to include your old email address so we can find it in the list as well as the new one.
How do I know when my membership should be renewed?
When you login to the Member's Centre you will be told how many days of membership you have left once you have 30 days left. Just click on the link to renew and your membership will just continue on, uninterrupted.
What will you do with my email address?
We never rent, trade or sell our email list to anyone for any reason whatsoever. You'll never get an unsolicited email from a stranger as a result of joining this list.
Read our privacy policy
How Did You Get on Our List?
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13. Contact Details
The Cheapskates Club -
Showing you how to live life
debt free, cashed up and laughing!
PO Box 5077 Studfield Vic 3152
1. Cath's Corner
2. In the Tip Store - Cables Galore; Saving on Air Freshener in the Bathroom; Cheapskating for Those Who Can't
3. Share Your Tips
4. 2017 Own Your Christmas Challenge - Week 1
5. On the Menu - It's Time to Make the Fruit Mince
6. The $300 a Month Food Challenge with Wendy - Making Room in the Freezer for Christmas
7. Cheapskates Buzz - Cheapskaters are talking in the Forum and on Cath's blog
8. Last Week's Question - How can I face up to my huge debt responsibly?
9. This Week's Question - How to convince a spender spouse to save
10. Ask Cath
11. Join the Cheapskates Club
12. Frequently Asked Questions
13. Contact Details
1. Cath's Corner
Hello Cheapskaters,
This morning our home smells amazing! I put a batch of fruit mince in the slow cooker overnight, and I have fruit soaking for the Christmas cakes and puddings. The house smells like Christmas, it's wonderful.
The Own Your Christmas challenge started this week, have you joined in yet? Good things, like a debt free Christmas, don't just happen, they are planned and those plans are worked to reach the goal. That's why we have the Christmas countdown each year, so everyone has the opportunity to plan to own their Christmas and then have the time to work the plan to reach their goal. I hope you'll all join the fun; wouldn't it be amazing if every Australian family could own their Christmas 2017?
Have a great week everyone (this is planning week after all).
Happy Cheapskating,
Cath
PS: Love our site? We love referrals! Send a note to your favourite newspapers, magazines, radio stations, TV stations, friends and relatives, and tell them about us!
2. From The Tip Store
Cables Galore
Instead of buying cable ties to tidy all your electrical cables that aren't being used but you need to keep, use the cardboard inner tubes of toilet/kitchen rolls. You can label the tube, fold up the cable and slide into the tube. Keep them neatly in a box and you can find what you need quickly. Saves space, time and money.
Contributed by Deborah Murthwaite
Saving on Air Freshener in the Bathroom
Everyone wants their bathroom to smell good. I clean houses on the side. One thing I have done for years is to take one of those little air freshener trees that people use in their cars (I usually use lemon scent) in the bathroom. I open the package up, use the little stretchy hanging part and put it on the knob for the water supply to the toilet. It's out of the way and helps the bathroom smell good. The cost of one Glade Plug in here is $2.98, I can get a 6 pack of those little trees for $4.34 (making each one 72 cents each), a savings of $2.26. They last for a while, you just move the plastic down every now and then. Depending on how many bathrooms you have it could get in to some money. I have 3 so for me it would be a $6.78 savings.
Contributed by Angie Steele
Cheapskating for Those Who Can't
For the past year or so, I have regularly picked up an extra item which is on sale or just cheap. It doesn't add up to much, but when I get a bagful I take it to the homeless shelter in Adelaide. It could be socks and undies, that cost very little, but are gratefully received. My next bag will contain packaged foods and toiletries. So, maybe think of those less fortunate and spend an extra couple of dollars that you won't miss, and donate them at your local charity to help Cheapskaters who can't.
Contributed by Frances Mavropoulos
There are currently more than 12,000 great tips in the Tip Store
3. Submit your tip
The Cheapskate's Club website is over 3,000 pages of money saving hints, tips and ideas. Let's get together and make the Cheapskates Club Australia's largest online hint, tip and idea library. Share your favourite money saving, time saving or energy saving hint and be in the running to win a one-year membership to The Cheapskate Club. We publish a Winning Tip each Thursday, so enter your great money, time or energy saving idea now.
Share your favourite hint or tip that saves money, time and energy and be in the running to win a one-year subscription to The Cheapskate Journal.
Remember, you have to be in it to win it!
Submit your tip
4. 2017 Own Your Christmas Challenge
He's making a list and checking it twice and you should be too! Cheapskaters have been making lists and checking and double checking them, and then owning their Christmases, since 2003, and this year is no different. We all want to be able to relax and enjoy the celebrations with family and friends, debt free.
Creating a Cheapskates style Christmas takes a little planning and a little action, a little creativity and a little determination, so let's get started on the 2017 Cheapskates Own Your Christmas Countdown.
We all know the best way to have a stress-free, debt-free Christmas is to start early (isn't that the way with everything?). The more you prepare now the more you'll be able to relax and enjoy celebrating with your family and friends. Imagine being the one who can sit back with a long, cool drink whilst everyone else is queuing for hours in the summer heat to pay exorbitant prices for gifts they are not entirely happy with. Puts a smile on your face already doesn't it?
Every week for the next nine weeks there will be new tasks and challenges to help you own your Christmas this year.
The details of the challenge are here, along with links to the Week 1 tasks and challenges.
5. On the Menu
It's Time to Make the Fruit Mince
I love fruit mince pies and slice, especially when they're made with this amazing homemade fruit mince. And it's easy to make too - it goes into the slow cooker, where magic is worked with the fruit and the spices, and in just a few hours you could be making delicious fruit mince pies (or just eating it straight from the pot!).
The secret to a good fruit mince is time. It needs time for the flavours to meld and blend. Aldi has mixed dried fruit for $4.99/kg this week - that's a brilliant price, up to half what you'd pay for the same elsewhere. And so, that's why it's time to make the fruit mince.
Slow Cooker Fruit Mince
Ingredients:
500g apples, cored and cut into small dice (no need to peel)
250g shredded suet
1kg mixed fruit
250g glace peel, finely chopped
350g dark brown sugar
grated zest and juice of 2 oranges
grated zest and juice of 2 lemons
50g slivered almonds
4 tsp mixed ground spice
½ tsp cinnamon
1/2 tsp nutmeg
150ml brandy
Method:
Combine everything except the brandy in a 6 litre slow cooker. Cook on low for 8 - 10 hours until fruit is very soft. Don't worry if the mixture seems to be very runny and swimming in fat - it should look like that. It's the suet. Sit the crock of mincemeat on the sink with a tea towel over it to cool completely. As the fruit mince cools the suet will coat the fruit and it will thicken. Pour in the brandy and stir. Spoon the mincemeat into hot sterilised jars and seal. As the mincemeat cools it will form a layer of fat on top - this is fine, it is supposed to do this. The fat will help to preserve the mincemeat. Mincemeat prepared this way will keep in a cool, dark cupboard indefinitely but I guarantee you won't need to worry about keeping it that long.
This is the fruit mince I use in mince pies and tarts and it can be used straight away, but it does get better with age. If you can wait about six weeks before you use it, you'll be thrilled with the results. The fruit mince will be rich and flavourful and oh so much nicer than anything you can buy.
This week we will be eating:
Sunday: Roast Lamb
Monday: Stuffed chicken legs & salad
Tuesday: Mushroom Pasta Bake
Wednesday: Honey soy chicken wings, fried rice
Thursday: MOO Pizza
Friday: Haystacks
Saturday: Shredded beef & gravy pan fried sandwiches
In the fruit bowl: lemons, bananas
In the cake tin: Fruit cake, orange cake
There are over 1,500 other great money saving meal ideas in the Recipe File.
6. The $300 a Month Food Challenge with Wendy
Making Room in the Freezer for Christmas
Good afternoon all. Welcome to a new week of trimming your food budget.
The weather is getting warmer and Summer is getting closer. It's time to get a stockpile of casseroles and leftovers in the freezer ready for the busy Christmas season. I know I'm probably a little early but I love to plan ahead of time. I have a few questions for you. Do you have room in your freezer for the casseroles and leftovers ? Or is it chock a block with no name mystery packages ? Are you planning a Summer veggie garden ? Do you have room to freeze the excess produce ?
I'll be the first to admit that my freezers have too much food in them at the moment. My girls are 20 and 17 and love to buy some of their own food to snack on. It's wonderful that they love to do this but I'm having trouble navigating my freezers.
So I thought it was time to do another freezer challenge.
For the month of October, let's all try to eat out of the freezer as much as possible. A great way to do this it to have a dig around in the freezer to locate those mystery packages. Place them all on a shelf or near the front so you can see them. Next step is to write them into your menu plan. By the end of May you should have some space in your freezer whether it be big or small.
Here are some benefits of this challenge -
* Might be a saving on your food bill.
* A trip to the butcher that you thought was urgent might be delayed for a week or two.
* A few nights off from cooking.
* Reducing household waste.
* It will make your freezer a little easier to organise with less to move around.
* Defrosting the freezer will be easier.
* It will give you room for those too hard to resist meat specials.
* You'll have room for leftovers etc.
* You'll have room to the Christmas meat when it comes on sale.
For the month of October, the threads I post will be a chance for everyone to report their progress. It might be interesting to find out what mystery packages you find.
I'll start off this challenge. Today I will revise my menu and add anything that needs using up in the freezer. I have lots of single serve leftovers that need to be eaten. I have lots of whole plums too. So plum cobbler will go on the menu and I'll need to make a batch of jam for presents.
Who wants to give the freezer challenge a go?
Have a great week and BE ENCOURAGED!!!!
The $300 a Month Food Challenge
The Post that Started it All
7. Cheapskates Buzz
Most popular forum posts this week
Decluttering Tally Game 2017
http://www.cheapskatesclub.com.au/memberforum/showthread.php?3480-Decluttering-Tally-Game-2017
Mixed Dried Fruit Ideas?
http://www.cheapskatesclub.com.au/memberforum/showthread.php?3639-Mixed-Dried-Fruit-Ideas
Cheap and easy Christmas Recipes
http://www.cheapskatesclub.com.au/memberforum/showthread.php?605-Cheap-and-easy-Christmas-recipe-s...
Most popular blog posts this week
Buy Reusable Instead of Disposable
http://www.debtfreecashedupandlaughing.com.au/2014/02/buy-reusable-instead-of-disposable.html
One is Enough
http://www.debtfreecashedupandlaughing.com.au/2014/01/one-is-enough.html
When One Partner isn't a Cheapskate
http://www.debtfreecashedupandlaughing.com.au/2014/02/when-one-partner-isnt-cheapskate.html
8. Last Week's Question
Last week's question was from MN who wrote
"I am in dire need of help with huge debt. My first issue is denial, unable to collect my mail out of letterbox knowing I will collect bills and I just don't want to see them. Is there any help in this situation? Thank you."
As usual we have had lots of answers for MN, both via the website and our Facebook page, but my favourite is the one below from Nick. Sound advice. Just remember, a financial advisor and a financial counsellor are not the same thing.
Nick Haggarty answered
Now is not the time for you to be seeking advice from strangers on the Internet! You need to immediately ring a free financial counsellor on 1800 007 007. These people are specialists in helping people in dire situations like yours. Do not contact a debt consolidation company, don't ask a financial advisor, do not pass "Go" and (sorry) don't collect $200. Financial counsellors have nothing to sell you. But allow them to guide you and they will change your life.
Angela answered
Don't be afraid, you can get out of this mess, but you'll need to work at it and be honest, with yourself and everyone else, especially the people you owe money too. I suggest you download the Bill Paying System and use it, especially the bill payment planning sheet and the payment push sheet. Then work out a payment push program. I always start with the smallest bill through to the biggest and work steadily towards paying them off. Contact all the creditors and explain the situation and ask for a payment plan. Have all the bill money automatically moved to a bank account you can't access immediately and then set the payments up to come from that account automatically each week/fortnight. Then be prepared to start saying "no" to going out, buying extra groceries, takeaway etc. Put any new clothes or holidays etc. on hold until you have paid your debts. It will take time, but once you are debt free, you'll be able to save. You'll also be in the habit of living on a budget and hopefully you'll stick with it and not go back to racking up debt.
MP answered
Oh I remember those days. But it needs to be faced. Start by collecting those bills, opening them and putting them in order of who needs to be paid first.
Start a spreadsheet or notebook and write down ALL that you owe, and the regular bills you have over the course of a year. In another column, write all your income. Work out what you could feasibly pay each creditor on a weekly basis to reduce your debt. Then work out what you can spare that can go towards the next bill, even if it's $5 or $10 per week.
Contact the creditors by phone or mail, and explain that you are having financial issues and need to extend your payment and offer them your payment plan. Basically they want their money and don't want to have to take you to court for it. Once confirmed, ask them to send that in writing to you. Set up direct transfers from your bank account.
Once you have spoken with your creditors, cancel all unnecessary items (e.g. Foxtel, and so forth) until you are back on top of things. Sit down with your family and discuss where you can cut costs e.g. power and water usage, take away dinners, use of car and heating/cooling, and so forth.
Get into the $300 a Month Food Challenge and do your best. I have lived on a low income for years, and know that fear, however you can manage it. It takes some commitment but basically companies prefer you to communicate and pay something rather than ignore and have the debt collectors after you.
Perhaps have a garage sale or car-boot sale of excess clutter, and put that cash towards your bills.
Be strong! Time to take control!
9. This Week's Question
Kate writes
"My husband and I have two small kids – 5-1/2 and 2 years old. I work 3.5 days a week and my husband works full-time. We have an investment property (we're paying interest only on the mortgage as our accountant advises) and we live in a rental property. My question is, do any of your members have any recommendations about how to save and create harmony when I VERY much want to save money to buy a family home for us to live in and my husband, who is a spender, isn't prepared to have a conversation about budgeting or saving? I know that $$ is one of the main things that people argue about and otherwise our relationship is great, but I want to have security for our kids and build towards our retirement."
Do you have the answer?
If you can help Kate, let us know. We'll enter your answer into our Tip of the Week competition, with a one-year membership to the Cheapskates Club as the prize too.
Send your answer
10. Ask Cath
We have lots of resources to help you as you live the Cheapskates way but if you didn't find the answer to your question in our extensive archives please just drop me a note with your question.
I read and answer all questions, either in an email to you, in my weekly newsletter, the monthly Journal or by creating blog posts and other resources to help you (and other Cheapskaters).
Ask Your Question
11. Join the Cheapskates Club
For just 10 cents a day you can join the Cheapskates Club and get exclusive access to the Cheapskate Journal, the monthly e-journal that shows you how to cut the costs of everyday living and still have fun.
Joining the Cheapskates Club gives you 24/7 access to the Members Centre with 1000's of money saving tips and articles.
Click here to join the Cheapskates Club today!
12. Frequently Asked Questions
How do I change my email address?
This one is easy. Members can update their email address or any other details by clicking on "Edit Profile" directly under their membership number after they have logged in to the Member's Centre. Subscribers to our free newsletter can use the Change Your Address form (under Customer Service in the menu) and fill it out. Once you've filled it in click the send button and we'll do the rest. Please remember to include your old email address so we can find it in the list as well as the new one.
How do I know when my membership should be renewed?
When you login to the Member's Centre you will be told how many days of membership you have left once you have 30 days left. Just click on the link to renew and your membership will just continue on, uninterrupted.
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13. Contact Details
The Cheapskates Club -
Showing you how to live life
debt free, cashed up and laughing!
PO Box 5077 Studfield Vic 3152