Would You Have a Secret Bank Account From Your Spouse?

I have a confession. I have a secret bank account. My husband doesn’t really know it exists nor will I likely tell him. Before you all go crazy on me let me explain.

First, when I say he doesn’t ”really know about it”, what I mean is that saw the paperwork, inquired with me what it was, I quickly answered ”I opened a new account” and changed the subject. He hasn’t brought it up again so I’m confident he’s forgotten…

Photo from https://independent.ie

Our Monetary Differences

I am frugal and could live off rice and water if I could and it meant my debt would be paid off in less time. Yup, I’m one of those. While I didn’t put my life totally on hold because of my debt (I had a wedding and a honeymoon, and have a child who is well taken care of) there is a whole lot of expenses I would cut and things in my life I would get rid of and sacrifice for myself (ie things I have compromised on with my husband) if it meant we could get out of debt faster.

My husband however is very much NOT like this. He enjoys spending money and enjoys the things our money buys. Not so much so that it interferes with our long-term goals or anything, other than the odd unplanned lunch out with friends, I don’t have to worry about him being too irresponsible with our money but he’s definitely the spender while I’m the saver.

Our relationship works. We’ve been together eleven years so we have to be doing something right! He keeps me balanced and reminds me that even though we’re in debt, I don’t need to be such a tight-ass all the time. As long as we’re responsible with it all. We discuss all of our purchases. All of our accounts are joint (minus the aforementioned secret account) and we discuss everything when it comes to money (minus the aforementioned secret account).

Our definition of how an emergency fund should be used varies however.

The Emergency Fund

When my husband sees money in the account that houses our ”emergency fund” he tends to let a few small slip-ups happen because the money in the ’emergency fund’ account can be used until we can repay it. Again we’re not talking about a TV or Xbox game but when he sees me stashing away money into our emergency fund account he doesn’t seem to stick to our budget as strictly, thinking the ER fund will cover us. He get’s lazy when it comes to following our budget.

If, for instance, there was something we needed for the house and we were in the process of saving for it, but it came on sale this week only though we only had saved 60% of the cost, he would somehow convince me we should use the emergency fund money since the ”item is on sale” and put the savings back in the fund even though it’s at 40% less than we borrowed. But, if we had no available funds in said account, he wouldn’t even mention it and just wait until we had saved enough to even look for the item in store sales.

This is the sort of ”over spending” I’m talking about.

The Secret Account

I opened an online savings account that he doesn’t know about where I have a small emergency fund saved. I have much more financial restraint than he does so in my mind, the money is safer with me. We manage our day-to-day funds fine otherwise and have the same common goals.

Incidentally, if you are in the States and want to open a bank account, go with USAA. They have really outstanding customer service.

For the time being, I’m not going to tell him. When our next emergency does come up, and there will be one given our track history, he will likely look at me freaking out thinking we don’t have the money when I will inform him we will be ok because I have money set aside. Knowing my husband he will be grateful that I was smart enough to do this (both saving and out of his sight) and encourage me to continue on with the emergency fund as I currently am (without him knowing).

So for us, I’m sure this arrangement will work. I’m not talking about having a secret account that I will use for my own personal use, rather save for our family where I know it won’t be touched.

What would you do? Am I alone in this thought process?

The Great Frugal Battle: Yard Sales Versus Thrift Shops

In the great battle of “where to get a good deal,” most frugal suburbanites know about the great deals that can be found at yard sales and at thrift shops. But which one is better?

Of course, the answer likely depends on where you live, what your neighborhood is like, and what kind of city you live in. It also depends on how much time you would like to invest in the search. Yard sales are seasonal and often only take place on the weekends, while thrift shops are open during most business hours.

Image via Robert Couse-Baker on Flickr

Let’s let the facts speak for themselves:

Yard Sales

Since yard sales are seasonal, you can sometimes luck into a great deal. Hard to find old editions of books for pennies on the dollar, and off-season equipment like hockey equipment and snow shovels can be found for a steal. However, sometimes the owner is a little too attached and can keep the prices far too high.

Looking for something in particular? Here is a list of items that are most often best purchased at yard sales:

Children’s clothing
Children’s toys
Books
Exercise gear
Very large pieces of furniture

Thrift Shops

You can’t mention thrift shops anymore without referencing DJ Mackelmore’s famous “Thrift Shop” video. Do you agree with him? Can you not beat the deals there? While thrift shops can often have more variety than the average yard sale, you’re also stuck with more conventional pricing methods and not as much wiggle room when it comes to finding a bargain.

However, thrift shops really win when it comes to variety and selection because they have established sections that are always stocked — probably because the last stop of someone hosting a yard sale is donating all of the leftovers to a thrift shop.

Here’s a list of the best deals to seek out at a thrift shop:

Home decor
Linens
Dishes
Cookware
Silverware and kitchen utensils

Regardless of which type of shopping you prefer, purchasing goods at yard sales and thrift shops will both save you tons of money over retail stores — sometimes even over discount or outlet stores!

Do you prefer yard sales or thrift shops? Which do you think carries better deals?

Saving Money on Candy This Halloween [& a Giveaway]

I’m very excited to bring you 3 chances to win some cold, hard cash. You can enter this giveaway at the Rafflecopter link below.

But first, I want to address how expensive Halloween candy is and how you can go about saving. Halloween is fast approaching, as I’m sure you are aware.

We’ve already addressed how you can save money on costumes, if you are so inclined to wear one. Now we are looking at how you can save money on the sweet stuff: expensive halloween candy.

Buy From Bulk Bins

In reality, Halloween candy in it’s marketed form is expensive. Candy (individually wrapped) from bulk bins stay the same price all year round. Instead of buying the bags of candy that have pumpkins all over the wrappers, buy traditional candy from the bulk bins to save a lot of cash.

Team up

It’s easy to team up with neighbors and friends to save money on Halloween candy. Have a movie night at their house, or invite them over to yours, and give out candy from only one of the houses. That way you save half the money. Bring a bag of candy and they’ll pitch in a bag.

This is my favorite way to save on candy because it also has a social aspect.

Don’t Give Out Handfuls

Yes, kids are so cute in their costumes that it’s very difficult not to dole out massive mits full of halloween candy, but that can really boost the cost and frankly, children don’t need it anyway.

Give out one or two mini bars, or three hard candies. They won’t remember that you gave them a ton of candy anyway.

How do you save money on candy?

If you win this giveaway, you can give out as much candy as you want. And buy the good stuff!

a Rafflecopter giveaway

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