Passive Family Income » saving money

Pasta- A Frugalite’s Best Friend

Miss T (Former Staff Writer) — Wed, 29 Dec 2010 11:49:58 +0000

When people are trying to live frugal, cutting back on food is often a place they like to start. The problem is people often get lost in determining what’s cheap but yet still healthy.

Take pasta for instance. Pasta can be a very satisfying, tasty, and cheap dish to put together. It is even quick to prepare. However, eating those soft, delicious noodles made from refined flour on a regular basis is not that healthy for you.

Since so many of us enjoy pasta and it is often a staple in our houses, I thought I would share with you today types of pasta that are still nice to wallet but are also better for your health.

1. Whole Wheat Pasta: Unless you have an allergy to gluten, whole wheat pasta should be your new best friend. It contains seven more grams of fiber and two more grams of protein per serving than white pasta. It also doesn’t undergo the chlorine dioxide bleaching process like white pasta, which removes three-quarters of it’s vitamins and minerals.

2. Spelt Pasta: Spelt pasta, a cousin in the wheat family, is great if you have a gluten intolerance. It doesn’t seem to cause the same allergic reaction. It also has a broader range of nutrients compared to wheat. It is an excellent source of vitamin B2, a very good source of manganese, and a good source of niacin, thiamine, and copper. Combine spelt pasta with olives, tomatoes, and feta cheese for a quick and delicious dinner.

3. Rice Pasta: Rice pasta is gluten free, wheat free, and cholesterol free, so if you have been told to behave by your family physician, rice pasta is a good choice. Rice pastas work great in Asian cuisine such as stirfrys and soups. Just toss them in with some veggies and spices and you’re good to go. You can find rice pastas in your local grocery store’s ethnic food isles at very little cost.

4. Jerusalem Artichoke Pasta: Jerusalem Artichokes when eaten in their initial state are very much like potatoes, just smaller. They are high in protein and contain prebiotics so they are good for your digestion. Any pasta made from these are sure to give you a nutritional boost.

5. Kamut Pasta: Kamut is an ancient wheat also known as ‘khorasan’. It is easier to digest than regular wheat so if you have a wheat sensitivity, Kamut may be a good place to start. Kamut contains about 40% more protein, 65% more amino acids, and is more digestible than common wheat.

6. Quinoa Pasta: This is one of my favorites. It is very high in protein, iron, magnesium, and phosphorus. It is also gluten free. I love it because it is versatile. You buy a bag of quinoa and you can use it to make a breakfast cereal in the morning, a salad with veggies at lunch, and grind it up and make pasta for dinner. If you’re not into making your own pasta, no worries, you can buy quinoa in pasta form.

7. Soba Noodles: Soba noodles originated in Japan and are often used in salads and stirfrys. They are made from at least 30% buckwheat so they are low in gluten. Buckwheat provides vitamins B1 and B2, several minerals, and nearly twice the amount of proteins found in rice.

8. Udon Noodles: Udon noodles are commonly used in Asian soups and stiryfys. They are made with a few simple ingredients- wheat flour, salt, and water. They are very cheap to buy and cook really quick so they are great to use for a meal when you are in a hurry.

9. Ramen Noodles: Raman noodles have traditionally been used in soups but can be used for dishes other than that. They are simple flour noodles that can blend with any flavor.

10. Raw Pasta: Did you know that vegetables can be used for pasta too? Just slice zucchini really thin or scrape out a spaghetti squash after it has been baked for 30 minutes. In moments you will have your own garden version of angel hair pasta.

As you can see there are ton of different kinds of pasta at your fingertips that don’t contain refined flour and simple carbohydrates. If you enjoy pasta like me, then indulge in some of these varieties instead. Not only will your taste buds go wild but you will also improve your health without spending an extra dime.

This post was written by Miss T.

Learn to Cook, Learn to Save

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Protecting The Environment Protects Your Money

Miss T (Former Staff Writer) — Fri, 03 Dec 2010 11:11:29 +0000

You can’t turn on the TV or open a magazine these days without seeing an advertisement for a green product. Hybrid cars, bio-diesel, and green cleaners are some of the most marketed products. Climate change and the environment is on the top of the global agenda as the need to cut down on carbon emissions becomes increasingly apparent. As world leaders and corporate entrepreneurs negotiate to come up with a plan to halt climate change and cut down on emissions, we can also play our role.

Cutting down on the amount of energy we use in our home, workplace and in our cars can have a significant impact on emissions. Not only that, it can save us a whack of money too. No, you don’t have to go spend thousands of dollars on the newest electric car or build a brand new house that is made to be power efficient. You can make small changes that produce big results. If all of us make an effort in our lives to cut back, we can make a huge difference on a global scale. Here is some advice on how you can cut back on your energy uses.

In Your Home

Switch to LED light-bulbs. We have done this in our house over the last year. They cost slightly more in the beginning, but save up to 10x their price over their lifetime in power.
Don’t boil entire kettles. If you are like me and like a cup of tea in the morning, don’t boil the whole kettle full. Only boil what you need for that one cup of tea. This saves the amount of energy you use. In fact, this rule could apply to any time you need to boil water. Focus on the bare minimum.
Use power bars. I swear we must have 4 or 5 power bars in use in our house. Plug your appliances into power bars and then switch the power bar off when those appliances are not in use. This may not work for your stove or oven but for things like TV’s, video players, stereos, blenders, computers, coffee makers, etc. it is a great choice.
Recycle, recycle, recycle. I can’t say those words enough. Recycle everything that you can. We compost our vegetable, fruit, and grain scraps. We also compost our lawn clippings and leaves. We reuse many of our plastic containers for organizational purposes and to freeze left over meals in. We use empty bottles to water our pots in the summer. If you can’t recycle everything in your home then make sure you take advantage of recycling depots. It takes the same amount of energy to make 20 cans from recycled material as it takes to make on can from scratch. Now isn’t that a big bang for your buck!
Embrace the sun. If you live in a sunny area, take advantage of it. Keep your blinds open so the sun can heat your house in winter. If you have a bit of savings, invest in some solar panels. Grow some indoor herbs on your window ledge and save some money on groceries too.
Turn down your thermostat by 2-3 degrees. This will save you 10% in energy costs. We have done this the last year and we have seen a difference on our monthly energy bill. If it is a chillier day (I live in Canada), then I put an extra sweater on and my slippers.
Seal your leaks. Make sure to check your house for any air or insulation leaks. This can be done with a candle. Then take the measures to seal any of the ones you find. This will ensure you are not wasting energy making heat that you aren’t getting to use.
Always have full loads. When washing clothes or cleaning up in the kitchen, make sure your appliances are full before you turn them on. Get creative with how much you can get into one load. Also, use lukewarm or cold water. We use cold water for washing our clothes and they come out just as clean and fresh as they would with hot water.

At Work

Go digital. Whenever possible, store all your documents in digital format. This limits your use of paper. If you need to print something, use both sides of the paper. Most printers now have a two sided setting so this shouldn’t be an issue.
Fly less. With the advances in online technology, there is no longer a need to fly around the world for a meeting. Use online audio and videoconferencing programs instead. This cuts down dramatically on energy and fuel costs. Plus you will generate less expense as an employee which may just work in your favor with your boss.
Turn your computer off. When you are not in your office, turn your computer off or at least put it on sleep mode. It is amazing the energy computers use when they are in screen saver mode.

In Your Car

Use your legs. If you need to travel a shorter distance, use your legs. Walk or get out your bike or roller blades. Not only is this greener but it is a great way to fit in some exercise. I myself walk to work, walk to my palates class, walk to the mall, and walk to the spa.
Carpool. If you live near a colleague, offer to take turns carpooling. It will not only save you money on fuel and save energy but it will also save you money on parking.
Take the bus. It is a known fact that public transportation is far more energy efficient than driving. So, put your pride aside, grab a magazine or a book and start taking the bus to work. You save energy and you save money because bus passes will always be cheaper than fueling your car.

When You’re Shopping

Yes, we can also be green when we shop and no I am not just referencing buying green products.

Don’t accept plastic bags at the store. Get in a habit of bringing your own reusable bags with you.
Buy organic and local food. Organic food is farmed differently than commercial products and requires less energy to produce. This past year we grew our own garden as well as joined a CSA. Not only does the food taste better but it is also greener because it requires less transportation to get it to your plate.
Eat mainly vegetarian. Do your best to to eat less meat. There are a ton of recipes out there that are vegetarian that are delicious. Livestock farms are a major source of greenhouse gases.

When Using Water

Water is something that we need to preserve today. We have polluted many of our lakes and streams and our next generation will have to deal with the aftermath from this.

Shower. Showers are more efficient than baths as long as they are not 45 minutes long, so the next time you need to get clean, embrace the waterfall.
Don’t leave the tap running, If you are brushing your teeth, mouth-washing, or scrubbing your face with cleanser, turn off the tap in between phases. Monitor you kids with this too so they can develop the same good habit.
Water your garden in the morning. This saves water because your plants have a chance to absorb the water before the heat of the day hits. If you wait until later to water, then it just evaporates due to the heat and your plants dry out.
Use a rain barrel. Situate a rain barrel under your eves troughs and collect rain water. This is a great way to water your plants or wash yourself in. Rain water makes your skin and hair feel amazing.

These are just a few of the simple yet very effective ways that we have found can help cut down on energy usage and reduce our carbon footprint. I hope you will consider giving them a try. Even if you follow just a few of these steps it will still make a big difference and save you money as well.

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If I had an Extra $1,000

John S. — Fri, 24 Sep 2010 10:56:42 +0000

photo credit: MarkyBonI often dream about having an unlimited supply of money that would never run out. Think of all the places we could visit and new things we could try. I could quit my job and spend all my time with my children and wife. I could learn how to cook and sail (2 things I have always wanted to learn) and have all the time in the world to train for marathons. The opportunities would be endless and the memories priceless. I understand that money doesn’t buy happiness, but I think it buys my time. I could spend the day doing things that I wanted to do in my life instead of working 60 hours per week for a company that could turn around tomorrow and let me go.

The chances of having an endless supply of money are extremely remote. I think each individual would have their own interpretation of endless supply of money, so I won’t put a number on it. What I think is possible is to eventually have an increase in my annual salary, or a new job that pays more than I currently get. Someday, when my passive income streams are more established, I am expecting to have a decent increase in income. So I ask myself, what would I do with that extra money? Just a few months ago, I was hours away from getting a new job offer that would have increased my monthly salary by $1,000 per month take home. That would have been a significant increase in income. I would have been sacrificing the same amount of my time as I currently do, so the time on the job would have been similar. Unfortunately (at the time), I was disappointed about losing out on this opportunity. Fortunately (present), it worked out in the end as the other company is now facing pressures from the week economy and laying people off. I guess things happen for a reason (but that is a different story).

For simplicity, let’s say tomorrow I got $1,000 extra in take home per month from my job or from an extra income stream. What would I do with that extra income? I have put together a few notes on what I would use this money for.

Update Monthly Budget – I would make changes to the monthly budget that I post every month. I would initially increase my income to the appropriate amount and adjust my savings expense category with the balance of money. This ensures that our family stays on the same budget and lifestyle. I like the idea of getting a raise or increase in income and put it directly into your savings without changing your spending habits.
Increase 401k contributions – I currently contribute 10% of my salary to my 401k along with a 6% company match. I would immediately increase my contributions to 12%, which is even more important now with the market being so low.
Donate to charities – This is one area that I need to focus on. My family really does not donate any money at this point. We always donate extra clothing, blankets, coats, etc. but we never donate money. I would like to start giving back and would look into setting up some monthly donations with this extra income.
Purchase more assets – As stated above in the monthly budget section, I would put almost all of the extra income (except for donations) into our savings. From our savings, I would look to purchase assets that could produce streams of passive income into the future. I would look at things like Tax Liens, Foreclosures, Rental Properties, Purchase High Yield Stocks, and more.

The important thing to keep in mind is that with any increases in our monthly income, we would try and maintain our current lifestyle. This would allow us to reach our long-term financial goals of financial independence.

What would you do with an extra $1,000 per month or any other large sum of money per month?

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Create Easy Passive Income by Saving Money

John S. — Mon, 04 May 2009 11:30:16 +0000

Many times when we think about creating new forms of passive income, the focus is put on generating new opportunities through things like investing in dividend stocks, writing online content, or investing in high yielding accounts. One of the simplest ways to create easy passive income that is often not discussed is actually directly in front of you. Saving money and cutting expenses can be a great way to build multiple streams of income.

In order to create a solid passive income portfolio, you must not only focus on building and maintaining income streams – but must also consider ways to save money. Saving money is a way to create easy passive income month after month. Once you eliminate or reduce an expense from your budget, that savings or passive income stream can be invested into another income producing asset. Here are a few ways that you can cut expenses from your budget to create new income producing opportunities.

Mortgage – Consider taking advantage of historic low mortgage rates and refinance your home. Make sure that refinancing is worth the closing costs and you will recoup these expenses within a year or two. Once you refinance, simply take the monthly savings and funnel it into a income producing asset instead of spending it on a new television or toy. Depending on your current mortgage and real estate market, you can probably create a hundred dollars or more of passive income each month just from refinancing your home.
Save on Groceries – Saving money on your grocery bill is another great way to create easy passive income. Whether you use coupons to get discounted grocery items or start a new vegetable garden, the monthly savings can really add up.
Cut your Utility Expenses – Look to cut back on your utility expenses as a way to save money. Changing up a few simple practices in and around your home can reduce your monthly utility bills and increase your income earning potential.
Cars – Think of ways to eliminate or reduce vehicle expenses from your budget. Look into refinancing an existing car loan as a way to cut down on your expenses. You could also consider taking advantage of public transportation to cut down on vehicle related expenses such as gas and insurance. The important thing to remember is to be creative when looking for ways to reduce your spending.
Cell, Cable, Phone – Look to cut or reduce one of these expenses from your monthly budget. Expenses from cable and phone packages can really add up and limit your passive income earning potential. Try sacrificing one or all of these items to build a easy passive income stream

Some critics may argue that saving money is not a form of passive income. While I agree that it is out of the norm when you think of a traditional income streams, the fact is that you are bringing back income that would have been paid as an expense. If you can cut expenses from your monthly bills, then this is a form of income generation that is recurring and will pay you back each month. That savings or income that you have created can then be reinvested back into creating new passive income opportunities.

What can you cut from your expenses to create easy passive income?

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Saving Money – An important lesson for children

John S. — Thu, 18 Dec 2008 15:38:03 +0000

Do you have children? Do you ever teach them the lessons of saving money? Having two young boys, the oldest five and the youngest one, I think about this topic on a daily basis. My wife and I have started teaching our oldest son some lessons about saving money and the importance of being financially independent. While each of these lessons are minor and may seem insignificant, I believe that overall they will help to shape his values as he grows older. I am a firm believer that our schools in this country don’t do enough to teach our children about money. We may force mathematics and science on them, but we miss out on providing them real-life lessons in personal money management. It is not until they get into college that they start to realize the real world can be very tough.

I believe that parents must provide their children with the knowledge of saving money, living on a budget, and the value of a dollar. It is these simple lessons in life that will prepare them for the future and allow them to become independent. I have put together a list of 3 things that we will be doing to teach our children the value of money and the importance of saving money.

Family Bank – Our oldest son is at the age where we are going to start to give him an allowance for helping out around the house. We will be setting up a family bank (as I like to call it) where we will pay him his allowance every week. He then will have the opportunity to deposit that money back to my wife and I that will earn him some interest along the way. For example, if we gave him $1.00 per week, he could have the option of keeping that dollar and buying a new match box car or some candy with it every week. We would also give him the option to give us back that dollar and each week to earn .25 cents in interest. After 4 weeks, he would have $2.00 instead of $1.00 which could buy him 2 new match box cars instead of 1! I know that is a nice interest rate, but we want to keep it simple.
Want & Need List- I actually got this idea from a co-worker of mine. Every year for Christmas, she tells her children to create 2 lists for their wishes. The first list is their WANT list. This list should only include things that they want and don’t need. For example, our oldest son wants a new trampoline for Christmas this year. He does not need one at all, but is something he thinks would be fun. The second list is their NEED list. This list should include items that the children really do need. For example, our son may need a new winter coat because his coat from last year is too small. He needs this coat to stay warm when playing outside. I think this is a very powerful teaching tool to use with your children. Once they have the two lists created, they should prioritize their wants. That way you can teach them not to expect to get everything they want in life and to make choices.
Volunteer – I plan on taking my oldest son with me to start volunteering. He may be a little young still, but I think it is very important to have him see people who are less fortunate than him. I have thought about working at a soup kitchen or helping out some children who don’t have a nice warm bed to sleep in and there biggest concern is what they will be eating that day. I hope that these types of activities will teach my son that there is much more to life than the next hottest toy or having another toy truck. I am a firm believer in learning life’s lessons from real-life examples.

These are not the only lessons or ways we plan on educating our children to learn about personal finance, but are some that we are starting to work on right now. As I mentioned earlier, I believe it is a parents responsibility to guide their children through there early years. While schools are very important and necessary, I think a child learns life’s true lessons from home. Being book smart and educated is important, but being able to apply those smarts in the real-world is the biggest lesson of all.

How do you teach your children about finances?

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