I am mourning the loss of my beloved coupon binder and tote. I just realized yesterday that it is no where to be found. The last time I remember having it was at Safeway. I called the store and it is not in their lost and found. I have been using a binder for the past 4-5 years. I had finally got it just the way I liked it. My tote was a beautiful Land’s End canvas tote. I also had my meal planner and my Grocery Guide from Triumph Dining. So, so sad.

Now I will have to start from scratch. Having lost my binder I am now rethinking how I do couponing. I know different people do different things. Not everyone uses the binder method and so I am going to be researching what other people do. I keeping thinking that if I had not been carrying it around it would not be gone!

If you have a method you like I would love to hear it.

Ligia

Recently, I read an article in All You Magazine’s August Issue called “Dig Your Way Out of Debt Fast”. The third step in the article suggests stashing away cash in an emergency fund of at least $1,000.

I first read about creating an emergency fund in Dave Ramsey’s book The Total Money Makeover: A Proven Plan for Financial Fitness. Both Ramsey and this article suggests paying only minimums on credit cards and prioritize building up to $1.000 in a savings account. Once that emergency fund is set, begin paying off your debt. The reason behind the emergency fund is probably obvious; when you have an emergency (new car tires, air conditioner busted) you have those funds to pay with instead of using a credit card. If, and when, you need to pull out of the emergency fund, Ramsey’s suggests you go back to paying minimums on your credit cards and build it back to the $1,000 mark. Then once again return to your debt elimination plan.

The article had some suggestions for building that emergency fund.  Here are some of the ways I am trying to build my $1,000 emergency fund.

1. Selling books on Amazon. I have many, many books to sell. I have been slowly posting my books on Amazon and I’ve successfully sold many of them. My local library sells used books for 25-50 cents so I purchase the ones in the best condition with no writing and post them on Amazon. You do have to create a seller’s account. Also, the money is dispersed every two weeks and deposited straight into your checking account. One of the things I like about Amazon is that you can print your postage right from their site and it subtracts the cost from the payment. I don’t have to have money in Paypal or anywhere else. This way, I print the postage, put the item in a envelope, tape it on and off it goes into my mailbox for pick up.

2. Selling on eBay. I have been selling on eBay off and on for at least 9 years. I started with my children’s gently used clothes. I have also sold my own clothes too. It is very easy to post your items and you can surprise yourself at what people pay! I once sold an American Girl Mini Doll for triple what I paid. It had been a limited edition and I was so surprised at how much I made. With eBay you need to have a Paypal account. Your payments are made into the that account AND you can also print your postage from Paypal. Again, you don’t come up with the shipping costs they are subtracted from the payment.

3. Selling on a Swap on Facebook.A group of local moms started a local swap & sale Facebook group and I have been selling many things this way too. It is like having a virtual garage sale. I’ve been posting trinkets, clothing, toys and selling them little by little. What I like is the fact that I don’t have to ship anything. The buyer is local and they can pick up. If there isn’t one in your area, maybe it would be a good idea to start one.

4. Selling on Craigslist. I have sold many things on Craigslist. It opens up your audience, but unlike eBay there is no fee. I have sold hand weights, furniture, ink cartridges, and so much more.

The article added a few strategies to get there faster:

• Take on part-time work: Commit to a few hours a week to help you set aside some cash.
• Dig up change: Empty change jars and take them to a bank or grocery store that has change-counting machine.
• Roll over reimbursements: if someone repays you don’t put the cash in your checking acoount. Deposit it directly into your emergency fund.
• Pay yourself like a bill: On payday pay yourself $25, $50 or whatever you want into the fund.
• Start a bad habit jar: If someone leaves the lights on make them pay into the jar.

Once that emergency fund is in place, it’s time to attack that debt! Step four calls for an aggressive payment plan. Once I’ve established my emergency fund I will start snowballing, a form of debt repaying. In the meantime-its off to sell I go!

If you are interested in Dave Ramsey’s book I’ve included an affilate link.

Ligia