Flub #1

We, the finance-savy couple, flubbed - flubbed BIG time.

Our food cost in February went over $400! Calm down... At the end of the day, we are mere human beings who can be just as careless as anyone can be. So, rather than grieving over the flub, we sat down and decided to take a cold look at the food cost of our February's spending. Here are the lessons we learned:

1. "Everyone" in the household needs to know the current status of spending

In February, C.J. was in charge of logging and updating our spending plan, and I didn't take the time to take a look at it. Not knowing what was going on with our food spending, I let our grocery shopping go unchecked. Also, C.J. enjoyed many eat-outs and decided not to include them in our food category. He created a new category called eat-out and made himself feel better telling himself 'food'category is still under $250.

2. Have a plan of what to do with surplus

Due to C.J.'s tuition for MBA, our finance had been tight until January. When February came, we knew we would be able to afford to be more lax on our spending. Then, we let our spending go unchecked in many ways - big time in food cost. Now we have a new savings program where we put little bit more than our estimated monthly surplus. Knowing that we both have the tendency to spend if we see the money, we decided to leave as little as possible in our checking account.

3. Reward yourself, but Don't be careless

As we have been good steward of our finance and paid off C.J.'s tuition without getting into debt, we deserve some reward. We were careless for a month and let the food bills hit the ceiling, which was very short-lived, unproductive way of rewarding. To celebrate C.J.'s graduation and our financial diligence, we are saving for a vacation in May, instead of keeping splurging on un-needed, trivial things.

I Won!

Yes, I won the battle against a corporate giant.

Early January of this year, I had to go to ER due to acute pharyngitis. My health insurance with BCBSIL covers 100% of ER visit, and, just to make sure, a few days after my ER visit, I even re-confirmed this fact over the phone with a customer service representative at BCBSIL.

Then, there came a bill from BCBS which said I owed them $105.50. For a few days, I had thought about just paying the bill without bothering to fight with the insurance company. I felt too lazy to fight. However, I eventually mustered up the strength and confronted them. The person over the phone told me the same thing: my insurance pays 100% of physician and facility charges for ER visit. When I asked her to explain to me then what $105.50 is for, she was unable to explain and told me that she will submit it to be reprocessed.

Two weeks after the last phone conversation with BCBS, I called in today to find out what they decided to do with the bill. I found out that they dropped ALL the charges from my account!

I cannot imagine how much money health insurnace companies are making thanks to all those unsuspecting, too-tired-to-fight people. They say it's a mistake, but I wonder if it is an "intentional" mistake, because they did the exactly same thing to my husband's ER visit. His case still in process, and we will see how long it will take to resolve it.

Please know what your insurance policies are, and make it a habit to inquire about the bill before deciding to send a check. You won't get it, if you don't ask for it. Unfortunately, with a lot of corporate giants, you will be ripped off, if you don't stay alert and fight for yourself.

TAPO (Tenacious, Assertive, Persistent, Obnoxious)

Landing a great deal for airplane tickets

For most things in life, I find the more tenacious you are, the better is the chance that you will get great deals. It's even more so when it comes to finding airplane tickets and vacation deals.

Give yourself enought time to research - 6 months for international trip, at least 4 weeks for domestic trip - and check EVERYDAY!

C.J. and I spent our last winter holidays in Korea. For the trip, we started searching for airplane tickets late May and booked tickets in June. When people were paying $1200-$1300 per person for a two-stop flights, we paid $980 per person for a flight that made only one stop at San Francisco.

I just booked a round trip to Newark, NJ to visit my friend, Gao Jing in NY. I've been checking American Airline website and Priceline.com almost everyday for the past four weeks. This morning, for the exact same flights, AA.com was selling them at $329.20 while Priceline.com was selling them at $188.20 which includes tax and all the fees. Not what I expected to find on a Monday!

The secret of finding good deals? Tenaciousness.

New Lunch Menu

Since we got married 10 months ago, we have been cooking lots and lots of pasta for CJ's lunch. His co-workers tease him, saying 'Pasta again?!', 'Are you Italian?', and I have been feeling guilty for it for a while. Finally, after 10 months, decided to come up with something new for his lunch, and started realizing how useful a slowcooker can be.

Here are three slowcooker recipes we use for lunch, which are very inexpensive yet healthful.

I. Broccoli Cheddar Cheese Soup with French Bread

I love Panera Bread's broccoli cheddar cheese soup, and found this recipe online.
(source) http://www.recipezaar.com/Panera-Broccoli-Cheese-Soup-150384

SERVES 4
Ingredients
1 tablespoon melted butter
1/2 medium chopped onion
1/4 cup melted butter

1/4 cup flour
2 cups half-and-half cream
2 cups chicken stock
1/2 lb fresh broccoli
1 cup carrot, julienned
1/4 teaspoon nutmeg
8 ounces grated sharp cheddar cheese
salt and pepper

Directions
1. Sauté onion in butter. Set aside.
2. Cook melted butter and flour using a whisk over medium heat for 3-5 minutes. Stir constantly and add the half & half.
3. Add the chicken stock. Simmer for 20 minutes.
4. Add the broccoli, carrots and onions. Cook over low heat 20-25 minutes.
5. Add salt and pepper. Can be puréed in a blender but I don't. Return to heat and add cheese. Stir in nutmeg.

II. Chicken Soup with Noodle or Dumplings

It all started from one rotisserie chicken we picked from CostCo oneday. Simply, we couldn't finish it all, and decided to use the leftover to make a warm, hearty chicken soup.

Ingredients
Chicken - roasted or boiled chicken, any part but skin and bone
Organic chicken broth
Vegetable - celery, carrot, potato, onion (feel free to use whatevery you have)
Water
Garlic
Salt and pepper
Noodle - any kind or dumplings

Directions
1. Chop vegetable
2. Sautee onion and garlic
3. Add everything in the slowcooker and boil on high for 2 hours
4. Add salt and pepper to taste
5. Just before you serve, add noodle or dumplings to cook
(For CJ's lunch, we replaced noodle or dumplings with french bread)

III. Chili with Oyster Cracker

Our church friend Julie introduced me to this heavenly chili recipe. Thank you, Julie!

Makes approximately 6 servings

Ingredients
2 lb. lean ground beef
1 medium onion, chopped
1 C celery, sliced
½ C green pepper, chopped
½ C red bell pepper, chopped
1 – 6 oz. can tomato paste
1 – 28oz. can whole tomatoes, undrained & cut up
2 – 15.5 oz. can kidney beans, drained & rinsed
4 garlic cloves, minced
1t cumin
2t chili powder
1t ground red pepper (such as cayenne)
1t salt
½t pepper

Directions
1. In a large skillet, cook ground beef and onion. Drain.
2. Combine beef, onion and remaining ingredients. Mix well.Cover and cook in slow cooker on HIGH for 3-4 hours.

Utilities Cost Savings

I. Comparison Shopping

When I was single, my roommate and I picked Comcast for our cable and internet service. Since Comcast has been the most widely known for the service at least in our area, we made the decision without comparing with other service providers.

We used to pay about $60 per month for our cable and high speed internet service provided by Comcast. However, when my roommate moved out three months before I got married, I started searching for something more affordable. And I found out a high speed internet service at $24 a month provided by AT & T! Since CJ and I decided to live without a TV, internet-only service was perfectly fine with us.

Before deciding your utility service providers, do your study and compare a few different providers.

II. Know What You Need and What Service You Are Paying For

C.J. and I don't own a TV. Therefore, we don't need cable service and were able to save a lot by having internet-only service. When I talk to people about this, many say that they didn't know they can buy internet service only without cable. As cellular phones are so widely used these days, a lot of families do not need landline phone services any more. Of course calling, waiting and talking on the phone with the customer service people can be pain on the butt, but the money you save by cutting that rarely-used landline serive is worth the pain.

III. Negotiate, Confront Overcharges and Mischarges

With AT & T , we were using their Express service which was supposed to be faster than their Basic service. However, due to some geographical reason, the speed for our internet was capped at 768kbps which was what Basic service gets. So, we went through the pain of getting on the phone, waiting forever to talk to someone, and reasoning with several customer service representatives in several different departments. They did lower our monthly charge by $10, which is saving us $120 a year!

About six month after we started using AT & T's internet service, we found out that for the same plan we have, AT & T lowered their monthly rate by $5. However, the change had not been reflected on our bills for two months. So we got on the phone again to confront and had the overcharges credited to our account and had them lower our monthly charge to the new rate.

IV. Paper Statement Vs. Online Statement

I always request paper statements for all my bills and think twice before I set up automatic payment. Yes, I'm not that green in that sense. However, with online statement and automatic payment options, people tend to be less careful about what they are paying for. By having a tangible bill in my hand, I find myself more alert since I get to go over line by line.

Family Car? American vs. Korean: Want vs. Need

This is a conversation that C.J. and I had right after when we got married:
(American = C.J., Korean = Hyuna)

American : Honey, why don't we use our savings to buy a used car? We can trade in my old Lexus.
Korean : Yeah, your car is too old - 140,000 mileages, broken sunroof, false check-engine light. Why not? We have the cash. Do you have any specific type of car in your mind?
American: I was thinking buying a family car.
Korean: A family car? What is that?
American: Oh, in AMERICA, we call a minivan a family car. You know, a car for a family with kids.
Korean: Hmm...

(At CarMax)

American: How about this? Ponda Udyssey?
Korean: Yeah, it looks like it's one of the most popular minivans.
American: How about that one? That's known to be very safe.
Korean: (thinking................) Honey?
American: Yes.
Korean: In Korea, most families live with a small or mid-size passenger car. When I was growing up in Korea, my family of five people lived with a small passenger car. It was only after I and my brother and sister left home that my parents bought a SUV so that they could travel more.
American: But it's not convenient...with kids, you need a family car, I mean, a minivan.
Korean: Is it a need or a want? It's not like we cannot raise kids without a minivan, is it? It might not be the most convenient or comfortable choice, but I'm sure we can live with a passenger car.
American: Honey, but this is AMERICA!
Korean: And? I don't want us to live to keep up with the Joneses. No! I don't care what people think of us. I would rather have a 6-month emergency savings and drive your old car than use that money to drive a fancy minivan.
(...SILENCE...)
American: You are right. Lexus is old but it's still running. And securing a 6-month emergency fund is the priority. Honey, thank you for keeping me real.


Our old junky Lexus is still alive - Thank God! It takes me to and from work, running only about 100 miles a week. With the current economic turmoil and job insecurity, we know we made the right choice.

Double Coupon!

I love coupons. People call me a Coupon-lady.

When I use coupons, I feel elated! When I use double-coupons, I feel victorious!

Last Friday, CJ & I bought a 10.3 oz Dawn dish soap using double coupons: one from Walgreen's weekly flyer, another from Sunday newspaper which we happen to receive for free. The dish soap was $1.99 originally, but we paid only 74 cents plus tax!

While we were planning our wedding, we saved over $3000 by using coupons and promotional codes. From the aisle runner to the bed, we made sure that we would not let the stores retail us.

When we were dating, we saved a few hundred dollars by using 'buy one, get one free' coupons from the Entertainment Book, which we used to buy at $20-$23. Dinners, musical shows, movies were taken care of at half price.

I. Thoughts on Sunday Paper

We do save some money by using the coupons in the Sunday paper, but I am not sure if it's worth paying for the paper to get the coupons. For the last 7 months, with coupons from Sunday paper, we've saved anywhere between 25 cents to $3 each week. If you have kids, the amount you save from Sunday paper might be much more.

II. Online Promotional Codes

Make it a habit to look for a promotional code before you check out from an online shopping. We rarely do online shopping these days. However, when we were planning our wedding, we made quite a few online purchases. For our bed, which is from Pottery Barn, before we checked out, we found a 20% off coupon from http://www.retailmenot.com/, and it saved us a couple hundred dollars. For gifts for the groomsmen and helpers, we used free shipping codes and 15%discount codes, which saved us a lot.

III. Have the Coupons Ready

"Know Thyself" - that's for me. I know I can be forgetful at times. Many coupons were wasted because either I went to the store without coupons or I just simply forgot using the one in my purse! Nowadays, I carry a small, 4" x 6" plastic bag in my purse, which has all the current coupons I clip. When I make a list for the next grocery shopping, I go through the coupons and write 'C' next to the items on the list which will be purchased with a coupon.

What's a Budget For?

One dollar here, one dollar there, and one dollar EVERYWHERE! This is what happens when you don't have a budget. At the end of the month, you just don't know where all the money is gone.

During our engagement, CJ and I wrote out a rough budget, but we did not follow through it during the first two months of our marriage. Only after we started attending the Crown Financial Ministry classes http://www.crown.org/, we started strictly adhering to the spending plan, and we cannot overstate the benefit of having a budget.

I. Know Where Your Money Goes

When we first got married, CJ and I had a rough draft of a budget which we had to write out during a finance workshop at a church during engagement. However, it turned out the budget was not very realistic as it was written when both of us were living without budget as singles.

To come up with a realistic budget this time, CJ and I started from the scratch. For two months, at the end of each day, we logged in all our spendings in a note, and kept all the receipts in an envelope.

II. Set a Budget

By the end of May, after two months of following our spendings, we were able to come up with a very realistic budget for each category: Income, Giving, Savings/Investment, Mortgage, Utility, Health, Food, Entertainment, Gas, Car maintenance, Bus, Clothing, School, Gift, Miscellaneous.
And this is when we started attending the 10-week long Crown Financial Ministry class at our home church. I believe the accountability we had with other attendants of the class gave us a strong motivation to stick to our budget.

III. Develop Your Own System

We continued our paper and pen system of logging in all our spendings daily, but we also created an Excel budget worksheet. Two or three times a week, whoever is in charge that month, that person will transpose the entries from the note to Excel table. The Excel table shows us how much we have spent for each category by a certain date of the month. It also shows if we are in surplus or deficit at a specific time of the month.

Food Cost Savings #3 - Reduce Waste

Once I set to become more conscious of my habits, I realized that a lot of food was going bad and eventually into the garbage can. Then I started doing research on how to reduce the waste.

I. Leftover Bread

For quite a while, not knowing what to do with bread which couldn't be used by the expiration date, I used to throw them into the freezer, and it often made me feel guilty. Not anymore! Now I use them to make casserole with sausage, chopped onion, eggs, and milk. Just mix them all together and put it in the oven for 45 minutes. Or bake them until they are completely dry and crusty, and turn them into bread crumbs using food blender.

II. Old Banana

I am not very fond of old, mushy bananas, so I try not to buy too much at once. However, once in a while, it just happens and I am at the crossroad of detesting the sight of it and of feeling guilty.
Now I use old bananas to make oatmeal chocolate chip cookies. Adding banana makes the cookies chewy and sweet without much sugar.

III. Green Onions

You don't want to miss when green onions go on sale at $1 for five bunches, but it takes a genius to use all of them before they go bad. Wash them and drain water out, and then chop them to freeze in a ziploc. Just break off whatever amount you need for the dish!

IV. Don't Be Picky

I heard a wife complaining about her husband refusing to eat the same dish for more than one day. Well, be willing to eat the same dish for two or three dinners. Last week, we cooked stringbean stirfry with ground beef, which happened to be too much for one meal. Instead of throwing it into garbage or freezing it for the unknown date's dinner, we ate it the next day. With all the seasoning soaked deeper into the meat and stringbean overnight, it tasted better than the other day!

Food Cost Savings #2 - Outsmart retailers!

I. Take Advantage Of Sales
People call me a coupon-lady or a bargain-hunter. Whenever I get to use coupons or find grocery items on huge sale, I can't help becoming so excited. Several months ago, I found a great website which lets you know all the sales going on at local grocery stores. It's http://www.mygrocerydeals.com/.
I registered several grocery stores in my neighborhoods: Dominick's, Jewel-Osco, Trader Joe's, Garden Fresh Market, and Walgreen. I check the website regularly to see if the items on my next grocery shopping list are on sale. Two weeks ago, all kinds of Brownberry bread were on sale for buy one get one free, and since we pack PBJ as snack everyday we bought four and put them into a good use!

II. Get To Know Different Stores In Your Neighborhood
Have you noticed tomato is over $2 and at major grocery stores such as CostCo, Dominick's and Jewel-Osco? Two months ago, I found the same kind of tomato at $0.78 at two of the smaller local produce markets! How about apples? It's $1.59 or more per pound at major stores, but I bought Fuji apples and juicy Cutland apples at $0.99 per pound at a local ethnic grocery store! Spanish onions were $0.69 per pound at one store, but it was $0.29 at another store! In general, I found fruits and vegetables are cheaper at smaller local produce markets.