Financial Friday – Emotional Spending

I am going to use a method from Money Love by Meadow DeVor. When I have income or expense I’m writing if it comes from a place of abundance, neutrality or scarcity. 

What I’m hoping to gain from this, is how to create love of money instead of fear. 

This week I spent all my $100 eary and I am out of gas. I made a bad decision at the grocery store and today I am feeling regret that I can’t leave the house. (I could, but I am choosing to feel this instead of fudging my own rules.) It’s time to respect myself and stop lying that I can afford it.

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Tax Tip Tuesday – Checkbook

Get a separate checkbook for your business. It’s not even an option. 

In an audit, if you have combined personal money with business money, the auditors have the authority to 

  1. Throw out the business. 
  2. Throw out all expenses for the business.
  3. And the worst one I have dealt with – The auditor took all income, including birthday money as income and tried to tax the client.

To go back years and try to separate what was personal and business is extremely difficult. Audits typically do not happen for the current year but are three years back. Do you remember what happened in 2012 tax year?

One of these factors is the bank statements.So many of us, never check them anymore. An email comes saying it’s available, but who opens them and goes to the work of downloading the PDF. We tend to use our app to track daily balances. In audits I have had clients pay hundreds of dollars to the banks to have them printed. Tax auditors can subpoena them for free and do NOT have to share them. 

In an audit, all deposits are income, so if you are re-depositing a bad check, have an insurance reimbursement or loan proceeds, clearly marked them and have a paper trail. In one case a client sold a home and they temporarily put the proceeds in their business account. The auditor taxed them until they could produce the correct paper work.

Keep your business checkbook separate, clearly mark deposits and download or print the bank statements. 
 

Quest For Less – Laundry

I read an article on only doing one load a day no matter what. It simplifies the chore and even if you’re behind, simply one load a day catches things up. So I divided up what we normally wash and it fit perfectly onto seven index cards. I used a funny laundry magnet and put the card on the machine each day. 

My kids have done their own laundry for years. We use pods and that makes a world of difference from them making a mess of powder and liquid detergents. (And I always buy the best pods so I don’t have to have them check for stains. Our clothes definitely look better after I switched from cheapy detergents.) Because he does his own laundry, my 17 year old son has tailored how he shops too. He only buys dark socks and underwear so he doesn’t have to do a separate white load. Haha! 

I was so pleased with the results. No more laundry piled around the machine waiting for the next load. No more waiting for some one else to finish. I juggled what I wore more efficiently through the week and created less laundry for myself. There was also very little nagging on my part. Succes! The laundry monster has been tamed.

  • Mon – Andrew clothes
  • Tues – Andrew sheets
  • Wed –  Mom towels/whites
  • Thur – Mom clothes
  • Fri –     Josh sheets
  • Sat –    Josh clothes
  • Sun –  Mom sheets

Financial Friday – Cash Challenge

In order to get debt paid off, I have started to put some massive action in my life to deal with this problem.This month has been the Cash Challenge.

Every Saturday I give myself  $100 for everything during the week. Food, toilet paper, gas, Tide Pods, school fundraisers, whatever. 

I am loving it! And wow, I have learned so much about my unconscious spending. The biggest thing I learned, is that I do it! Before the Cash Challenge I thought I was on a tight budget, but I was actually spending double what I am now. Cash is my new best friend. 

Tax Tip Tuesday

Sadly I run in to this one a lot –

My self-employed business client was very excited to get a big boost of income, he sent the checks to the bank and had the bank make a big principle payment.

Sounds like a good idea….but he forgot to put at least 15% in savings to cover his tax liability at the end of the year. 

Yes, the interest on the loan is deductible, BUT not the principle payment. So at the end of the year, he is short on cash. 

Depreciation does not typically match the amount paid as principle and in a year where you are at the end of depreciation, you are caught short of cash to pay the tax bill.

My advice has always been for every dollar earned in your business put 15% in savings. Whatever is not used for taxes, is your “refund”. 

It seems like a steep percent, but for self-employed clients who have been caught owing money, that is what it would have been. 

Weekend Cooking – Why?

I am on a mission to make my life simpler and my family’s memories stronger. My Monday -Friday business is getting ready to swing into high gear and I need to get this cooking thing under control. I have always cooked on the weekends but am typically trying new things that don’t translate well to keeping food on the table the rest of her week. 

Without sacrificing creativity – cooking, baking and prepping need to do double duty. Stress relief and function.

The recipe part of Weekend Cooking blog posts are not about how to boil & peel an egg or if I prefer Hellman’s to Miracle Whip, it’s a reminder of the quick ways I put food together. These are the foundations of meals that my kids will remember. My son’s will be able to take the basic premise and recreate my flavors, while learning to make it their own.

 Next week will be my favorite Sloppy Joe’s recipe – equal parts ketchup, BBQ sauce and brown sugar added to leftover ground beef and served on old hotdog buns from the freezer. (How very 1960’s lunch!) What does the essence of that recipe say?  Sweet! That is the WHY FACTOR that made my Mom’s Sloppy Joe’s  not like my friend’s mom. My gift to my kids is for them not to wistfully remember my cooking, but to be able to recreate it and the memories behind it. (And to NOT remember everything as perfect – I served old hot dog buns, but I served them with love! πŸ’œ)

Weekend Cooking blog posts will also be about My Future Self πŸ’œ. When I open the fridge Monday – Friday I want to look in there and be grateful that I took the time to be kind to the Future Me. I usually leave Future Me lots of to-do’s. Having ground beef in the freezer for Tuesday night tacos is not the same as taco meat, prepped, and ready to heat up. 

SAMPLE FROM NEXT WEEK – 

Sunday Breakfast – Toast & Egg Salad– Homemade artisan white bread, lightly toasted with egg salad, thinly sliced fresh from the garden tomato & a turn of black pepper. My Egg Salad is mayo, yellow mustard, s&p and mashed with a fork. I LOVE onion in it, but have discovered I don’t like onion breath at 7am.“Every type of salad says something about the person eating it” Food 52 article. Guess I’m a throw it in a bowl & mash it with a fork kind of person! 

Weekend Cooking – πŸ“ Roast Chicken

I have never had a fresh chicken. My girlfriend orders eggs, hatches them, raises them and kills them. And I was the lucky recipient of one. 

Waaaaay  better! I’m going to have a hard time using up the rest of my stinky store-bought chicken now. 

If you are a fan of beautiful golden skinned roast chicken you should use my BFF Julia Child’s recipe. Trussing, oiling, herbing, basting & high heat create French perfection. My version is called….hmmm?…lazy. 

I gave the chicken a quick rinse, didn’t even oil the roaster and threw it in the pan, unsure if breast or butt was pointed up. My only goal was to get it in with the least amount of raw chicken juices splattering in my kitchen. Sprinkled on some generic poultry seasoning, put on the lid and roasted until the meat thermometer was close enough.

Lazy Perfection!

Saturday Lunch – Chicken Salad – mayo, grapes, celery, almonds & a tiny dab of whole grainy mustard.

  • Sat Prep – cut up all veggies in the fridge & stored them in individual containers while listening to podcasts.
  •  Sat Prep – big batch of plain rice
  • Sat Prep – Chicken Stock  – boiled carcass with wilted celery scraps, strained, picked chicken meat off bones & threw the whole pot in the fridge. Love those podcasts!

Saturday SupperOrange Chicken  – stir-fried carrot, celery, red pepper, broccoli. Added equal parts BBQ sauce and orange marmalade plus a squirt of Sriracha and heated to boil. Added almonds & chicken and served over rice.

  • Sun Prep – boiled eggs, drank coffee β˜•while writing blog posts πŸ“and playing with picture symbols πŸ’Ÿ. 

Sunday Breakfast – Toast and Egg Salad 

Sunday LunchSloppy Joe’s – leftover ground beef, equal parts ketchup, BBQ sauce and brown sugar. Sweet! Yep, we like it sweet. Served it on old stale hotdog buns from freezer. Tastes like my favorite lunch from the 1960’s. 

Sunday Supper – Popcorn

Sourdough – Starter Update

Check this out! I have spent hours trying to wash the sides of my crock when my starter bubbles over. Due to an extremely bad day I said F it and just threw it in the fridge. Low and behold – It cleaned itself!! How cool is that! The sourdough just flaked off. It took most of the week but I am so happy not to scrub that mess.

Quest For Less -Water Glass Challenge

I start the week keeping up on the dishes. My typical Saturday morning chore is dealing with Wed-Thurs-Friday’s disaster. To elimate one whole category of mess, we are taking on the Water Glass Challenge this week. One person = one water glass. If it’s dirty it gets washed by hand. No new glass for one week.  Stay tuned next Saturday for the results! 

Resuts: An overwhelming SUCCESS! I went from one load of dishes almost every day to TWO LOADS this whole week. The boys were happy since their job is to unload the dishwasher. I was much more conscious of how many glasses I had been responsible for. Saving 5 days a week of dishwasher detergent, lots of time putting dishes in and out, and then having the counter stay clean all week…that was fantastic. 

Before the Water Glass Challenge!

Practice Post – Biscotti Blues

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Camera

 

 

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tablet photo

 

Chocolate Walnut  Espresso Biscotti with a side of sourdough starter running over last night. I used my tablet to take the photo just to play. Had to improvise the recipe too much to post, plus they turned out rather ugly πŸ˜‰

I thought my camera would take a beter photo than the tablet but I guess not. (Ignore the lighting)

I still haven’t figured out the shortcode for adding a recipe.

’Chocolate

  • Servings: ”lots”
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description=”use a really good recipe not this messed up one”