Frugal and Cheap Valentine's Day Gift Ideas

Valentine's is exactly one week away. My husband asked me the other day what I would like for Valentine's Day and I knew that I didn't want him spending a lot of money since we need to be saving for a home. Over the years I have gotten the dinners, the jewelry, the flowers and gifts on Valentine's Day. I love these gifts - I do. But at this stage in my life it is more important that as a family we save for a home, and for our long-term future.

I thought about for a while what we should do - and I came up with a great idea.

We are going to give each other a gift box (shoebox) with a $15 limit, where we can fill it up with anything we want to show our love for one another. I plan to make my box sentimental, but also put in some fun goodies. Here are some ideas I am thinking about putting in my Valentine's "shoebox" giftbox for my husband:

1. Craft Beer - my husband is a fan of beer, but rather than just buying a case, I may just buy one craft beer for him to try something new. A nice craft beer can be bought for about $4. Female alternative: I myself would go for a cheap bottle of sparkling wine. Andre costs about $4 at BevMo, and I actually like the taste. Or if you want something nicer, you can get the 187ML bottle of something slightly fancier.

2. Love Letter - This can be free, and can be so meaningful. When is the last time you received a handwritten letter from someone, let alone a love letter? I know if I received a love letter, I would cherish and save it. Rather than spend a few bucks on a card, consider taking the time to write a meaningful letter to the one you love.

Image from Pinterest

3. Love "Coupons" - This is my husband's idea. He says he would love this. A "coupon" or "pass" for a massage for example. Or maybe for a bathtub together, or go for a stroll just to the two of you. It can be however cute or sexy you want to do for your loved one.

4. Candy! or Sweets - This is just cheap in general. I love to bake so I could make some brownies or cookies which wouldn't cost me much at all. My husband loves specific types of fruit candy, so it would only cost a few bucks to stock up on it and have his favorite candies in the box. 

5. Grocery Store plants or Flowers - my local Trader Joes has succulents for under $5. I have one in my office and it comes in a cute eco-friendly happy yellow-colored container. You don't have to do roses because they can be expensive, but many places have succulents and other flowers or plants fairly cheap. Or my other favorite - just pick some flowers from outside yourself and tie them with a cute ribbon or jute rope twine.

6. "Why I Love You" Jar - I was thinking of making a DIY jar, where we both will put reasons why we love each other in it throughout the year. When we have sit-down dinners together, it will be nice to draw from the jar and see what our loved one really loves about us. You can write the notes on different colors depending on who wrote it (e.g. blue paper for him, pink paper for her). That way when you draw the note, you can look for the one from your partner.

7. Candles - these can be really cheap to find at craft stores like Michaels or even Ikea. Just to add to your little gift box.

Of these ideas, I think the most meaningful to me would be a hand written note, but the other stuff is just fun and nice to have some little gifts/treats.

Let me know how you save money on Valentine's Day, but still find ways to celebrate in a fun an meaningful way!

Negotiating with your Student Loan Lenders! How I saved over $2655 in interest in ONE year!

 

I mentioned in a previous post that the highest interest loan I had was nearly 10% with Sallie Mae. Well, this may be shocking but when I first got that loan, the interest was actually about 14.75%. And I had about $18k of it….let that sink in. $18k debt with a 14.75% interest rate. If I was an investor that is the best rate of return I have EVER heard! However, being the borrower, for me, it was THE WORST deal of my life. I won’t get into why I got this loan in the first place (I was an IDIOT). I have seen a lot of posts on the internet about Sallie Mae being the devil, and this interest rate for student loans is truly something so corrupt and evil. Anyway, that’s a rant that is neither here nor there. Here is what I did that helped me deal with this crushing loan:

I got the interest reduced to 0% for one full year!

I sent an e-mail to Albert Lord (VP & CEO) at Sallie Mae. This was done slightly out of desperation, and I wasn't truly expecting anything to come of it - but I had nothing to lose. I came across this idea after Googling what others did in my situation.

At the time, I was unemployed and I couldn’t make my payments (which were $300/month at the time). I had been paying my loan for a year, but hadn’t made a single dent in the loan because of the large amount and high interest rate. I e-mailed Albert Lord and explained my situation about how I have been making payments, how little I earn, and what my total debts look like – truly crushing. And to my surprise, he gave me a very generous deal – he let me go interest-free for one whole year. Now from 14.75% to 0% - that is huge! This really helped me out, and I appreciate this. I don’t know if Sallie Mae would still do this because I put this request in back around 2009. I paid off what I could so that the interest wouldn’t creep up on me again when the interest rate got back. I got lucky though because after 2009 interest rates dropped and my loan with Sallie Mae was fluctuating and my interest dropped to just under 10%. Still very high, but by far an improvement.

Now I don't want this post to seem like a positive review of Sallie Mae. The interest rates they charged are truly sinful - but, this technique did help me save way over $2655 in interest in one year.

How I Paid Off $28K in Debt in Just TWO Years - It IS Possible

Dear Internet World,

I’m exposing my debt to you. Which is kind of a scary thought. It was something I was ashamed about, and I still do not openly feel comfortable discussing it with my family and friends to this day. I still have a ways to go, but I recently paid of one of my largest loans and I began to feel lighter and free.

Here is a graphical representation of all my debt over the last couple years on various dates. As you can see – I haven’t had credit card debt for the last several years, but what I DO have is student loans and I had a car loan. In 2012 I owed $54k – now I owe around $26k. I still have a ways to go, but I am very proud of having paid off $28,000 in just a fairly short amount of time.

Row Labels	School Loan	CitiBank	Osla	Sallie Mae	Toyota	Grand Total
9/18/2012	$               2,975.13	$  14,044.99	$  12,592.58	$  16,224.74	$    8,407.67	$    54,245.11
12/2/2012	$               2,892.32	$  13,977.97	$  12,411.70	$  16,149.72	$    7,953.63	$    53,385.34
1/20/2014	$               2,551.00	$  13,255.00	$  11,483.00	$  12,524.00		$    39,813.00
5/30/2014	$               2,373.00	$  13,152.00	$  11,188.00	$    7,050.00		$    33,763.00
11/21/2014	$               2,311.00	$  12,840.00	$  10,696.00			$    25,847.00

With every loan that I have paid off, there is no doubt in my mind that this is the way life should be led – debt-free. The first debt I paid off was my Toyota car loan, and then it was my Sallie Mae student loan which was over $16k! I paid off my car first because it was my highest payment amount every month at $300/month. A financial advisor told me that if I paid off my Toyota loan, that it would then free up that $300 for me to attack my other debts which had lower payments. After Toyota, the next loan one I paid off was my largest and worst loan I ever took: Sallie Mae. The reason I paid Sallie Mae next was because the interest was nearly 10%! How can companies be allowed to get away with charging students these kinds of interest rates when they are just 18-19 years old and starting out in life for the first time? You don’t get a house loan without a deposit; why would someone give you such a large sum with no credit history or down payment? 

Here is how I did it:

• Work bonus structure – my company pays me a quarterly bonus that is essentially guaranteed. My base salary is not that high for my industry, but my bonus is 20% of my income, and puts me at a very competitive overall salary. I put all of this bonus money to attacking my loans.

• Higher paying job – in the past, I struggled to find a good job. I finally got a job where they paid well and also had good benefits. I’ve held onto this job the last few years, and I am so grateful. There have been times where I struggled with earning enough. At one point after having my college degree, I was only making $12/hour. I don’t know how anyone expects a college grad to make a living off $12/day in Southern California.

• Company Stock Plan – Having a job that pays you well is the first step, but I have realized that benefits at a company can be very important as well. My company basically guarantees 15% on our stock purchase plan. 15% is a higher rate of return than the interest on any of my loans (especially after Sallie Mae is paid off). I invested as much as I could in these stocks and then cashed them out, and paid off my loans faster. I know many people in my company who did not participate in this plan because they could not “afford” it, but trust me – there is always a way to afford it! Also, if your company offers matching for your 401(k) that is also another free money opportunity you cannot turn away. Never turn away free money that you can get from your company!

• Cheap rent (for California anyway) – I have the most modest apartment of all my friends in the less glamorous side Los Angeles. My husband and I did a slight upgrade 6 months ago and moved to a slightly bigger place, but it’s a modest upgrade as well and only because we had to move for his schooling. My friends and colleagues who make similar income as me pay roughly $200-700 more in rent than I do. But honestly – I feel I have made my small apartments cozy and meaningful to me and my family anyway. It’s not how big the space is, or the location – but the love. I know that’s cheesy, but it’s really been true for me. I make sure my small space is clean, and I decorate it nice, and am very thoughtful about the atmosphere in my home. Though it’s small, it’s my sanctuary. They say to take pride in what you have and be grateful because there is someone who is happier with less.

• Side Hustle – my husband and I started a side business. We re-sell items on eBay. We aren’t raking in piles and piles of money, but it’s a good part-time income stream. We use the business money to pay our bills, and if that leaves me with extra in my checking account at the end of the month, it either goes to savings or to my debt. I don’t want to add this in as if this is not something that is hard work and requires effort. We work for it – so it is truly like having a part-time job.

• Tax Returns – I don’t spend my tax return at all. It goes to savings or debt.

My biggest advice would be that if you are working in a job that is not helping you get by and make a decent living, keep looking for a higher paying job. Money is not everything when it comes to a career, but working for a company that offers competitive pay and benefits makes a HUGE difference. If you are good at your job, you deserve to be paid a livable wage. (Not $12/hour, especially if you have a college degree). Whatever job you do now, there is another company paying more and offering better benefits. Keep hustling, and get paid the money you deserve.