Let’s be real—figuring out how to build an emergency fund on a low income can feel downright impossible when you’re stretching every dollar just to keep the lights on and food on the table. Saving money might seem like a luxury only the wealthy can afford. But here’s the hard truth: emergencies don’t check your bank balance before they show up. Whether it’s a flat tire, a surprise medical bill, or an unexpected job loss, these […]

President Trump’s bold “One Big, Beautiful Bill” is encountering resistance in the Senate, where GOP lawmakers are wrestling with how to balance sweeping tax relief with steep spending cuts. While the plan delivers on Trump’s promise of lower taxes for families and businesses, proposed reductions to Medicaid funding in the Senate version have sparked concern; even among some Republicans, about the potential impact on low-income seniors and the disabled. Read the rest

Imagine saving hundreds of hours and thousands of dollars each year—just by owning less. These 20 stats show how. Most people I know want more time and money. In most cases, I can see why. We’re stretched thin—trying to meet deadlines, pay bills, care for our families, and still find space for rest, joy, purpose, and meaning. The days feel short. The expenses pile up. And it’s easy to believe that the only solution is to work harder, earn more, or somehow fit more into an already full life. But maybe there’s a better answer. What if the solution isn’t found in earning more, but in owning less? Every item we buy has a cost—and not just in dollars. Our possessions cost us time to earn, time to maintain, and time to manage. And the quickest way to get more time and money back into our lives is to pursue minimalism. And it turns out, the numbers back this up. Here are 20 statistics that show just how much minimalism can change our everyday by giving us more time and more money. Money 1. Americans waste $18,000 on “non-essential” expenses each year (source) 2. Despite owning enough clothing to form an average of 135 outfits, Americans spend an average of $1,445 yearly on clothes and shoes. (source) 3. On average, people spend $360 each year on jewelry, whether for gifting others or buying for themselves—despite already owning 34 pieces of jewelry. Men, on average, spend more on themselves than women do. (source) 4. Families spent $24 billion on toys annually. Parents spend an average of $240 on toys and games every year while grandparents spend $500. All while it’s estimated that 20-30% of toys are never played with. (source) 5. Americans spend $14.6 billion every year on home organization. (source) 6. In the United States, people throw away over $473 billion worth of food annually—38% of all the food in America. (source) 7. Nearly $10 billion in electronic devices—comprising computer equipment and devices, screens, and small electronic appliances—is thrown away every year in the US alone. (source) 8. On average, Americans spend approximately $1,100 per year on coffee from coffee shops. (source) 9. Nearly 25% of grocery shopping dollars are spent on processed foods and sweets—that amounts to $125/month for the average American household. (source) 10. In the US, consumers spend an average of $150 per month on impulse purchases. (source) 11. The average American spends over $1,000 a year on subscriptions—$200 of it on unnecessary or unused subscriptions. (source) Time 12. On average we spend two hours per day buying things and taking care of the things we already own. (source) 13. Americans spend nearly two hours a day shopping online at work. (source) 14. The average woman makes 301 trips to the store annually, spending close to 400 hours a year shopping. This amounts to 8.5 years spent shopping during a typical lifespan. (source) 15. The median size of a new American home has grown to 2,338 square feet from 983 square feet in 1950,

My focus is split – student loans and savings. I just updated you on my debt load after payments made this month. Now it’s time for a savings update. I currently have a total of $6,249 in my personal savings accounts. $807 is in my long standing personal savings account. And the rest is in my new Ally savings account assigned to all my savings buckets that I created when I created my budget. There was original (post house sale $4,000 more in savings. I will explain use when I get a May finance update together.) *Note: before you come for me, this image only shows $6,049 as there is a $200 transfer pending. How do you like Ally? I am so grateful to the person in my comment about a high yield savings account who recommended Ally. I LOVE, LOVE, LOVE the buckets and related goal and date feature. And then seeing cumulative total is very motivating. It’s been so easy to set up and use. And feels “far away” so I’m not at all tempted to look at it often let alone touch the money there. My only complaint is that transfers take anywhere from 3-4 business days. While they take the money out of my account on day 1, they take 3-4 days to deposit it into my account. (Even if they listed it as Not Available). They do show the transfer as pending, but seems like a stretch to take that long to even record in my account. I only have the single savings account. And I’ve already earned just over $17 in interest. And that’s in just over a month. Woot, woot! Very motivating. Future Plan The plan remains the same, with a small hiccup of this unplanned stay in GA while Beauty and fiance recover from 4 wheeler accident. I will continue to live with my parents, helping care for my mom (and dad as needed) until I am no longer needed. Things are working well with dad. I take care of day time care – feeding, bathing, and changes. And then cook several times a week for dad and I, eating leftovers in between. Dad handles evening care and is free to get out of the house during the day. We are both quite happy with this schedule. And I’m able to work around mom’s schedule, and vice versa. I start at 4:30am daily. And we make it work. I am diligently saving and paying some extra to my student loans every month. But I think I am leaning slightly more to saving. My siblings have stepped back in while I am here in GA.   The post Savings to Date – Ally Review appeared first on Blogging Away Debt.

The retirement account landscape seems like a mish mash of acronyms – 401(k), IRA, HSA, etc. If you’re new to this, as I was when I first started working, it can be overwhelming. Fortunately, there is an order of operations when it comes to saving for retirement. And it’s an order that works for everyone, regardless of your income or status. You may not have access to every type of account on the list but that won’t change the order, you’ll just skip a step. As long as you follow this order of contributions, you’ll be in good shape. Here it is: Contribute to a 401(k) up to the company match Contribute to a Traditional or Roth IRA to the annual limits Contribute to a Health Savings Account Contribute to a 401(k) up to the annual limit Contribute to a SEP-IRA Contribute to a taxable brokerage account Remember, you may not have access to each account (or you may have a different type), but if you follow this order you will be in shape. Table of Contents1. 401(k) up to match2. Traditional or Roth IRA3. Health Savings Account4. Maximize your 401(k)5. SEP-IRA6. Taxable Brokerage Account 1. 401(k) up to match 2025 annual contribution limit: $23,500 Many employers offer a retirement account match to incentivize you to save towards retirement. These are defined contribution plans and the most common is a 401(k) and 403(b), which is for non-profits and educational institutions. You will want to contribute as much as you can up to the match. My first employer, Northrop Grumman, offered a 50% match on the first 6% of contributions. This meant that by contributing 6% of my salary, Northrop Grumman kicked in an additional 3%. Be sure to review the vesting period if you intend to change jobs. A vesting period is how long you have to wait before the employer match is yours to keep. Your contributions are always yours to keep. 2. Traditional or Roth IRA 📝 The IRS defines an IRA as an Individual Retirement Arrangement but everyone calls it an Individual Retirement Account, which is what I’ll be doing throughout this article. It’s a difference without a distinction. 2025 annual contribution limit: $7,000 2025 catch-up contribution for ages 50+: $1,000 After the 401(k) and the free money, you will want to contribute to an Individual Retirement Account (IRA). It comes in two flavors: Traditional IRA – Contributions are tax deductible and the account grows tax free but you are taxed when you withdraw funds in retirement. Roth IRA – Contributions are not tax deductible (after tax) and the account grows tax free and you are not taxed when you withdraw funds in retirement. Each type has an annual limit, which is shared, and there are also contribution limits based on your income. You will have to determine which is best for you but the Roth IRA is a very attractive account because it grows tax free and

How Much Should You Have in Emergency Savings in Canada? Life is unpredictable. Whether it’s a sudden job loss, medical emergency, or unexpected home repair, having emergency savings in Canada can make the difference between staying afloat and falling into debt. But how much is enough? There’s no one-size-fits-all number, but we can help you calculate a target that fits your life and financial situation. In this guide, we’ll break down how much emergency savings […]

Oh god, what now? What now is Section 899 of the One Big Beautiful Bill – Trump’s monster-truck ‘tax and spend’ act currently bouncing around the halls of Congress. Section 899 has been dubbed a ‘revenge tax’ because it targets individuals, corporations, and governments of foreign countries who are deemed to be hitting US entities with ‘unfair foreign taxes’. Foreign countries like China, North Korea, and that island where all the tariff-loving penguins live, right? […]

We visited the Tulsa Zoo once when our son was just a baby, and for the next seven years I said I wanted to take the kids again. We finally made the trip; a three day frugal-ish Mother’s Day weekend in Tulsa, OK. Here’s what we were able to pack in for just under $700. Frugal-ish mother’s day weekend: air … The post A FRUGAL-ISH MOTHER’S DAY WEEKEND IN TULSA, OK appeared first on a life on a dime.