Winter is upon us and it’s that time of year when many are spending their hard earned money on gifts, entertaining, food and decorations. However, according to the National Retail Federation, it appears shoppers are being careful with their spending and constantly on the lookout for bargains. Sales have been lackluster, and the NRF predicts only a modest increase in sales over last year.
Black Friday, the day after Thanksgiving, has for years marked the unofficial start of the holiday shopping season. But Black Friday continues to diminish in importance for shoppers as major retailers have begun offering deals online right after Halloween in order to get the jump on one another and drive more holiday sales overall. People are also choosing to shop on their mobile devices at their own leisure.
It’s no secret that the real way to spend without feeling the financial sting well into the new year is by staying on budget. We got a chance to interview Kyle Taylor also known as The Penny Hoarder about staying on budget this year. Kyle Taylor and his family like to joke that his entrepreneurial spirit began when he was 8 years old.
His dad worked for a large credit card processor so there were always old terminals and cash registers lying around the house. Instead of playing with “Power Rangers” like the rest of his friends, Kyle used playtime to try and convince family members to invest in his conglomerate of make-believe banks and equity markets that he was running in the living room.
When he was 15, he started clipping coupons to help his mom pay the grocery bill. He joined a few coupon trading groups and started vigorously looking for new ways to cut costs. The grocery bill quickly fell until it was under $20 a week. Since then he has used non-traditional methods of saving and earning money to help pay for rising tuition bills, car payments and rent, all the while never having to answer to a boss. After much encouragement from friends and family, he decided to start blogging about his wacky and weird ideas for making, earning and saving money. That’s when the The Penny Hoarder website was created.
Check out our interview with Kyle, as we talk about how you can stay within your budget, take advantage of cash back credit cards, and save extra funds this winter.
Do you have any money saving tips that we didn’t talk about during the interview? We’d love to hear about them.
Hi, I’m Jonna. Welcome to naturally-glam.com where I share how I balance my life as a mother, wife, and influencer.
Great tips! I will be implementing some of these myself.
This is great I really love his story! I laughed when you mentioned how when he was 15 he spent his time trying to get his family members to invest in his banks, that’s pretty awesome. I definitely need to get my finances in check and these tips were great not only for the holidays but overall! Thanks for this post!
I do agree with the studies, I’ve been cautious this year. We didn’t attend any Black Friday events because they seemed futile and we knew that the time away from family was too precious. I will, however, take his advice and wait until it gets closer to Christmas and then shop online (great idea!!).
Aww, this is so amazing. I LOVE how he was helping mama bear when he was just a little ole’ bear cub. What an awesome start to his journey. I am never the one though who participates in all these “holiday” deals. Just way to much stress, hype, and traffic. Ain’t got time for that LOL. Thanks for sharing this resources. Going to view his site and watch that video now!! Every bit of advice helps.
Becoming a SAHM has made me pull back and live simply. I can’t lie. I love to shop and I miss splurging but my priorities are different now.
I’m a huge Black Friday shopper. I don’t think I could wait until closer to Christmas because things are really picked over then.
Great tips. Been working on getting my finances in order.
Great interview and tips! Financial fitness is at the tippy top of my priority list. My main thing now is to try to do more with less and evaluate needs versus wants!
Great post and interview! had my first couponing trip to the grocery store today. I also used the Ibotta app and the Walmart savings catcher. The savings really do add up.
I’ve been using my Rewards credit card so I rack up points. Also doing the weekly money challenge and then using that money to pay for Christmas gifts.
This is a fantastic interview. I love using cards to get points and coupons are fantastic! Great journey!
Great post! I’m always looking for ways to cut back and save $. How cool that Kyle learned the value of money and budgeting at a young age to help his family. Love the story, thanks for sharing.
Siobhan
http://www.befreeproject.com
Great tips. I’ve been working on lowering my debt and spending less. He just confirmed that I’m walking in the right path. Thanks for sharing.
I’m always looking for ways to make the most of my money. Great tips for me to try out!
What a story! I totally thought about my son and his love of Power Rangers. Gotta shift his focus! lol
These are great tips!