Friday, January 24, 2020

Frugal Friday and Moving Money to Earn Money

What have we done this week that has been frugal?  We have had all of our evening meals at home.  My son in law and I share the cooking and meal planning by putting together a meal plan for the next couple of weeks and post it on the fridge.

We chat daily and confirm if we are still sticking to the haphazard menu planning or going in a different direction. A different direction means we will probably have grilled hot dogs/chili dogs instead of what is on the schedule.

Not eating out is big for my husband and me.  We used to do it a lot and I would justify it by saying I worked hard at work and I deserved to treat myself.  I said that more than once or twice a week. Sigh. I am pretty proud of our efforts to save money by dining in as opposed to dining out.  Since I resigned from my position with the school board in October 2019,  I have been better able to prepare meals at home.  It is a really good feeling.

CVS lured me back with a 40% off one item coupon, so I used that coupon, a digital coupon for $1 off of any Oil of Olay products and bought a bottle of Oil of Olay lotion.  Original price was $11.99 ( overpriced, to begin with) and with coupons the after price was around $6.50.  Then a 20% coupon printed out  $2 CVS Bucks and a $3 off a $15 dollar shampoo purchase.  So.. I went back and picked up 3 bottles of Loreal    Pantene shampoo, conditioner, and a pre blow dryer condition for $15 (CVS sale) used the $3/15 CVS coupon, the $2 CVS buck coupon AND a newspaper insert coupon for $5 off Loreal  Pantene Hair Care.  The final price for me was $5.65 for all three items. 

I moved some money this morning.  It was a bit emotional, as the money was the last of my mom's cash from her burial account.  (She put money away so that when she passed her final wishes of being buried in Wisconsin with  a service  headed by her pastor from Florida and family attending would take place)  That journey took place in 2014, a year after she passed.

Anyway, there was $10,000 left in the account that I have been sitting on.  It has been in a regular saving account earning nothing and up until lately, I could not even decide what to do with it.  The money was and is a BIG emotional anchor that I am trying to get off my back.

So, 6 years later, I decided to put the money in laddered CD's.  When all is said and done and it will take some time.

An example of what I am working towards
EVENTUALLY the CD's will renew monthly (after they are on a 12-month schedule).  It may sound confusing and I was a bit confused, to begin with, but I think I have it down now.  I started with 3,6,9, 12 months CDs, and next month will repeat the process and a month after that, I will again repeat the process.

When the 3 month CD is going to mature, I will switch that to a 12 month CD and will do that until all CDs are maturing at 12 months.   Since I only have $10,000 I won't be able to fund all 12 months, but you work with what you have.

So, now the last bit of my mom's funeral cash has a plan to earn a better interest rate and I still don't know what I will do with it.  The emotional attachment is still there, and well....  I just don't know.

My hubs is unaware of this money, as we know he would have made plans for it and it would all be gone just like that.  I am not ready to spend it.   Not on him, not on debt, not on anything.  At least now, it will earn a bit more until I can decide what to do with it.

So there you go. Frugal Friday shenanigans are accounted for.


  1. If it were me, I'd take the money(or earmark it in my will or something so it's earning until that time)and prepay for my own funeral(and Hubs too). That way you don't have to worry about the money(spending it or not)AND you'll be a blessing to your kids once you pass as the funeral is paid for(or at least part of it is)and they won't have to deal with it during their grieving time.

  2. If you know someone will spend it, it is best to not tell the person. Good job.

  3. I completely understand about the emotional attachment to that money. I felt the same way when my parents passed away 8 years ago. I told DH to just invest the money once my inheritance hit my bank account.

    Good for you on doing something with it to earn extra money. I like Sluggy's suggestion.