As we all probably are aware of, saving money versus paying off debt is a hot topic among personal finance bloggers. I recently came up with a financial plan that should help me be prepared in the instance I lose my job due to the merger. I had initially decided that I was going to pay off the last remaining student loan over nine months. As the economy keeps getting worse, I can’t help but feel that maybe I should hang on to as much extra cash as I can. I decided I’m going to change my plan of attack. I’m going to do a “reverse debt snowball”. I’m going to take the money that I was going to put towards that student loan into our savings account. That way, if we absolutely need it, we’ve got it. If not, in six-nine months, if things are better I can take that money out of savings and put it right onto that student loan. I thought about starting a separate account to keep those funds separate, but I currently am earning [...]

This year, I’m trying my hardest to have a “green” Christmas.  I wrote about some of the presents I’m making, but I wanted to divulge more on things you can do to help others have a green Christmas as well! Skip the wrapping paper on your Christmas presents.  Instead, purchase reusable cloth grocery bags.  Not only will you help the landfills from the lack of wrapping paper, but you’ll also eliminate more plastic bags being used! Make some homemade laundry detergent and include the recipe. You’ll eliminate many chemicals from making their way into our water system. Make your own cloth baby wipes for new moms and dads. You’ll help the environment and baby’s bum!  You can use old t-shirts or flannel sheets from thrift stores too! Instead of buying “stuff” for that person you don’t know what to get, make a coupon book for them to redeem car washes, babysitting, etc. I’m looking forward to getting my Christmas presents wrapped up (figuratively) this weekend.  Are you done yet?

In ultimate frugal fashion, this year I decided to make many of our Christmas gifts.  Mr. Money and I had decided months ago we wouldn’t buy each other anything, despite our persistent longing for a Nintendo Wii.  We concluded that the money would be better put to use sitting in our savings account just in case I lose my job. If we go a few more months wanting one, we may cave and purchase one.  Who knows, maybe in a few months they’ll drop in price if the economy gets worse and no one is buying them.  A girl can only hope! I feel a little miserly knowing that we have money tucked away in a savings account and I’m not spending a lot on Christmas.  I know a lot of the time I’m afraid we don’t have enough money in our checking account and that we’re “poor” but I know that cushion is there in case we need it.  It’s a good feeling, but at the same time I feel like I’m being cheap.  Shouldn’t I be spending $25 [...]