Meatballs, Mashed Potatoes, and Green Beans – $8.74 per serving

This meal is a trifecta of comfort, convenience, and taste. I buy premade meatballs because, let’s be honest, who has the time to make them from scratch? Adding Boursin cheese to the mashed potatoes makes them irresistibly garlicky and creamy. Frozen green beans complete the plate, offering a quick and nutritious side. This dish is easy to prepare, absolutely delicious, and perfect for a cozy night in. No recipe for this one! Just vibes.

Air Fryer S’mores – $0.50 per serving

Who said you need a campfire to enjoy s’mores? These air fryer s’mores are a game-changer. They’re incredibly easy to make, and you get to skip the campfire smoke smell. The graham cracker, chocolate, and marshmallow combo is always a hit, and these treats come out perfectly gooey and delicious every time. At just 50 cents per serving, they’re a sweet treat that won’t dent your wallet. Another one that doesn’t require a recipe! Keep an eye on them; they don’t take long in the air fryer! Less than 2 minutes does the trick.

Lasagna Soup – $3.50 per serving

This vegetarian lasagna soup is a bowl of comfort. It’s simple to make and packed with all the flavours of traditional lasagna without the fuss. Serve it with garlic bread on the side for an extra indulgence. It’s hearty, satisfying, and perfect for a cozy dinner. Plus, it’s a great way to enjoy lasagna flavours without the effort of layering and baking.

Chickpea Pot Pie – $2.60 per serving

I couldn’t believe how easy this chickpea pot pie was to make! The biscuits cook beautifully on top, creating a delightful crust over the savoury filling. It’s so delicious and a definite 10/10 in my book. Next time, I’ll add more spice to kick it up a notch, but it’s fantastic. This dish is hearty, comforting, and perfect for those nights when you need a warm, home-cooked meal.

Ground Beef and Broccoli – $4.37 per serving

This ground beef and broccoli dish is incredibly filling and easy to whip up. It’s a great option for a quick weeknight dinner that doesn’t skimp on flavour. The beef is savoury, and the broccoli adds a nice crunch and freshness. It’s a simple, no-fuss meal that always satisfies.

Beef Dip and Sweet Potato Fries – $5.99 per serving

I bought the beef from Costco to make this meal even easier. The au jus dip package makes the beef dip perfectly flavorful, and pairing it with sweet potato fries is a match made in heaven. Fresh buns from the bakery elevate the whole experience, making it taste even better than a restaurant meal. It’s incredibly easy to prepare and absolutely delicious. No recipe for this! I added cheese and butter, baked them for 10 minutes, and made the au jus on the stove.

Black Bean Enchiladas – $2.83 per serving

I’m obsessed with these black bean enchiladas! They’re so yummy and filling and have just the right amount of spice. As someone who loves a bit of heat, I know these enchiladas hit the spot. They’re also incredibly budget-friendly and perfect for a satisfying dinner.

Thai Chop Salad – $2.65 per serving

This Thai chop salad is a fantastic potluck dish because it’s vegan, making it a safe option for everyone. The tofu, cooked perfectly in the air fryer, adds a great texture, and the sauce is simply delicious. I love the account I got this recipe from; she always has creative ideas. This salad is fresh, flavorful, and perfect for any gathering.

Thai Beef Rolls – $3.50 per serving

These Thai beef rolls are super yummy and versatile. You can add more toppings than the recipe calls for, but the spices make the beef taste amazing on its own. They’re a great way to enjoy a flavorful meal that’s easy to prepare and satisfying. Perfect for a light dinner or a tasty appetizer.

These meals have brought a lot of joy to my table recently. They’re affordable, easy to prepare, and packed with flavour. I hope they inspire you to try something new and delicious without spending a fortune. Happy cooking!

The post 9 Affordable Meals I’ve Been Loving appeared first on Mixed Up Money.

A sinking fund is an account in which you set aside money each month to put toward a goal at a later date. It is a separate pot or bucket of money to shield you from using your savings when something unexpected arises.

Now that we know what a sinking fund is, it’s essential to know that creating a sinking fund can be your first step to crushing your goals in a consistent, passive way. Today’s post will outline the different types of sinking funds, creating one, and the advantages of a traditional ‘savings account’ method.

We’ll also cover strategies for consistently putting money towards your goals and tips for staying on track.

How do sinking funds work?

Most of the time, saving for a financial goal can be overwhelming. So instead, a sinking fund is a strategy to avoid financial stress and, more importantly — avoid blowing your budget. Each month, you’ll put a small sum of money into a separate high-interest savings account of your choice towards a goal that is coming soon, such as your kids’ birthday, summer vacation or Christmas.

You may have a number in mind for these infrequent expenses. However, these costs might be in specific areas of your budget, like a routine oil change or a goal you are working towards that only happens once a year.

Once you’re aware of your savings goal, you pick an end date when you hope to have the money saved and contribute on a consistent schedule until you reach your goal. This is the reverse of how we are conditioned: to finance anything we can’t pay cash for in our daily lives. Surprise! You don’t have to go into debt to buy something that you *knew* was coming.

Setting up automatic contributions is the best way to stay on track and hit your sinking fund goal. Using automation, you can have your financial institution move a small amount of money to your sinking fund each week or month. The best part? You likely won’t even notice the transfer but will surely hit your goal easily. For example, I have two separate $20/week transfers into different savings buckets. Because I’m used to mindless purchases on takeout and coffee, this is just another $20 that I don’t miss — except this time; it’s going towards my future self.

Why do you need a sinking fund?

For all kinds of reasons!

Sinking funds are valuable because making smaller, regular contributions eventually add up BIG. So rather than only saving in big chunks, guilting yourself for depleting your ‘savings’ or having to rack up your credit card because you weren’t prepared, sinking funds are a straightforward way to save money without having to pinch your pennies.

It is an excellent strategy for offsetting life’s “expected emergencies.” These are the kind that is not significant enough to cause financial ruin but will cause a hiccup in your financial plan if they are unaccounted for, as they always seem to pop up at the worst times.

PS: I go over ALL of this in my latest book. Hint, hint, nudge, nudge.
Order Financial First Aid

What is a sinking fund used for?

Your goal and reasoning for starting a fund are, of course, personal to you, but here are some examples of types of sinking fund goals to get you started:

– To build an emergency fund

Contributing extra cash from your budget each month is a great way to build up a buffer for anything unexpected quickly. I firmly believe that multiple emergency funds can help protect you from life’s many unknowns, such as household emergencies, personal emergencies and beyond.

– A replacement set of tires for your vehicle

Rather than be caught off guard by the first snowfall, plan a season or two ahead if you know you’ll need a new set of tires, especially if you live in an area with inclement weather. I’m looking at you, eh!

– Future vacation

Do you know how much easier it is to save monthly for a future all-inclusive girls’ trip? Stagette? The only thing easier to swallow than that is the bottomless margaritas you know weren’t slapped on your credit card.

-‘Planned emergency’ like a pet or home expense

Figure out the price of your most costly appliance to replace or the range of an expensive vet bill in your area. This could include a significant home renovation like new shingles or a large purchase like furniture.

– New phone

Have you ever experienced the feeling of paying for your phone in full at the start of your plan? You won’t miss the monthly payments for your device — or any interest that could be added on.

– Wedding

This could be to save for your wedding or attend someone else’s big day who is close to you. Someone close to you (who’s been talking about destination weddings since high school) gets engaged? Start chucking money at that fund, baby.

This method can also relieve the pressure of hitting your goals if your financial situation changes and your money is needed elsewhere in your monthly budget.

Missing one or two contributions is (hopefully) not going to derail your goal completely.

What is the difference between a savings account and a sinking fund?

The most significant difference between a general savings account and a sinking fund is how you’re saving. Most importantly, the schedule and frequency of putting money in your sinking funds are typically much more routine than most other goals.

A savings account is often unused because it exists without a purpose until needed. I’ve found sinking funds to be powerful because I know I intend to use all of my money to benefit future me.

How much should you save?

As much as you want! That depends on your financial situation, specifically your goals and the timeframe for reaching them.

For example, say you’re going to book Disneyland at the end of the year. It’s currently January. The trip will cost you around $5,000. Therefore, you’ll need to save $417 per month. That number sounds overwhelming. So, instead, you opt to save $96 per week or $14 per day. Say it’s you and your partner saving for the trip. That means you could save $7 per day and hit your goal by the end of the year. Seeing numbers in smaller increments can make saving for steep financial goals much easier.

Not only that, but if you miss a few weeks or days because another priority or expense comes up, you’ll still be much further ahead than you would be if you just crossed your fingers and hoped your credit card would have enough room to charge the trip.

To help you get started… 
Use my free sinking fund calculator

All you have to do is input your savings goal amount and date. You can customize the names of each of your funds and organize where all your money is saved.

How do you start a sinking fund?

Step 1: Choose your target amount as a goal.

Step 2: Pick a future date when you want to have that amount saved.

Step 3: Figure out the number of months between now and your goal date.

Step 4: Pick an account and start contributing!

Great! Now you’re on your way to prepping for ‘planned emergencies’ so your budget or emergency fund stays intact.

Where should I put my money?

One of my favourite options is Neo Financial for short-term financial goals and high-interest savings accounts. This financial institution is online but offers great savings rates (in comparison to most Canadian options) and has excellent insurance coverage to protect you and your money.

High-interest savings accounts are low to no risk for consumers to use as a tool to help them hit their short-term financial goals. I have several buckets for savings right now, with sinking funds for vacations, home renovations and holiday seasons. These financial institutions have been integral in helping me achieve my goals year after year.

A sinking fund is great for peace of mind

Contributing regularly to an account with a goal in mind helps remove the emotional burden of financial guilt.

A sinking fund, although similar, has different psychology than a general savings account, which can make you feel worried if you have to withdraw from the balance you’ve worked so hard to accumulate. However, when you reach your goal, putting money away with a sinking fund strategy means saying bye to guilt. Instead, it’s time to use your earned money for something that was planned all along.

Once you try sinking funds, I’m confident you’ll find it’s yet another tool to keep your financial life organized and headed in a positive direction!

The post Should You Start a Sinking Fund? appeared first on Mixed Up Money.

My new book, Financial First Aid, is officially out. In its entirety, we discuss emergency funds and the importance of preventative measures to protect your financial life.

If you’ve ever been in a situation where money felt tight, and you were scrambling to find a way to pay for an unexpected bill, you’re not alone. A Pew Research Center survey found that only 47% of Americans have enough emergency funds to cover three to six months of expenses. 

Although common not to have an emergency fund, this financial task should be at the top of your list to set yourself up for success. After all, no matter how much work you do with your money, if you don’t have access to cash for things you can’t predict, you could lose all of the progress you’ve made within an instant. 

Why do you need an emergency fund?

Off the top of my head, I can think of five times I’ve had to pull money from my emergency funds that you may or may not relate to:

1. My first car accident

2. Closing costs on my first home

3. An unexpected home repair

4. An unanticipated tax bill

5. Job loss from COVID-19

A few times, I can also think that having an emergency fund would have saved me from stress or helped me escape a dangerous debt cycle much quicker. 

The most obvious example I can think of is a job I once had wherein my manager was sexually harassing me. It was my first ‘big girl job’ and each day and night felt like a constant struggle. From inappropriate text messages to awkward private meetings, I felt stuck and trapped in a career that I couldn’t leave. And like many others facing financial difficulty, I couldn’t go because, without that paycheck, I wouldn’t be able to pay my bills. 

For me, the choice to have emergency funds (yes, plural), is an easy one. It’s a meaningful way to protect my financial security, aside from saving money for retirement.

Emergency funds can provide you with freedom if you’re stuck in a job that you don’t love and save you from feeling like at any moment you could be put back at square one – in a cycle of debt and worry.

What types of emergency funds are necessary?

Although most financial experts will encourage you to have a general emergency fund covering three to six months of essential expenses, there are other types of emergency funds to consider. We’ll call this one the fund that protects you from job loss or an unprecedented global pandemic. 

But, what about other sticky financial situations that could arise? It’s not a bad idea to have multiple emergency funds (within reason).

A F*ck Off Fund

One of my favourite emergency funds to keep (and one that I always recommend to my friends in relationships) is a F*ck Off Fund. In 2016, Paulette Perhach shared one of the best personal finance articles I had ever read. It was, A Story of a Fuck Off Fund, and it changed the way I looked at my money forever. The idea behind this fund is a form of protection from financial abuse. Financial abuse is when one person in a relationship, working or romantically, deprives someone of their resources needed to survive independently. 

For me, I instantly connected this story to my personal experience at my previous job. The only way to escape that job for me was to go back to college. That way, I knew I would have student loans coming in after registering for classes. I would have felt so much more control and less fear had I had a f*ck off fund instead. Now, I always do. It’s not large, but it feels nice to have protection. It’s also, in a sense, a comfort in knowing that if my partner suddenly disappeared, left, or (knock on wood) unexpectedly passed away, that I would have a small amount of easily accessible cash on hand. If you are in a relationship or have a job, I strongly recommend you have this account to protect yourself from moments that you cannot predict nor that you would dare imagine.

A household emergency fund

The second most crucial emergency fund you might need in your life is a household emergency fund. If you own any form of real estate or property – this fund is an absolute necessity. Now, of course, you’re probably wondering why you’d need a household emergency fund if you already have a general emergency fund. Can’t you just double dip? And yes. You can. But the bottom line is: does it seem worthwhile to take the risk? After all, you could experience job loss at any moment, and a major appliance breaking down in the same week. Don’t believe me? 2020 seems to be the perfect example of one thing after another. 

As a homeowner, I keep an emergency fund that is of the same amount as the most expensive appliance in my home. A new furnace could cost anywhere from $3,000 and up. So, that seems like a good benchmark savings goal. 

A vehicle emergency fund

Likely the smallest emergency fund of the bunch is one that you might keep to pay for the annual maintenance or unanticipated cost of owning a vehicle. Although you don’t always need to keep a separate fund for this expense, it is optional. At the very least, it’s a good idea to work annual costs like winter tires, oil changes and small repairs into your yearly budget. 

The reason a fund might be beneficial is to protect you from a car accident or vehicle damage that you’d like to pay upfront rather than through insurance. For me, using my emergency fund to pay for my first car accident saved me from spending the deductible for the claim payment, and also allowed me to keep my insurance at the same low monthly fee I had worked so hard to achieve. 

Ultimately, you could find an argument for many types of emergency funds. The best approach is to look at your most expensive assets and decide which ones could use the most protection. At the very least, a general emergency fund should be a part of your financial life.

Saving too much money is never a good thing, either. So just be sure that you’re being smart with where you save your emergency funds and that each one of these funds has a useful purpose. For me, saving part of my emergency fund in an easily accessible high-interest savings account and part of my emergency fund in a TFSA works. But, it might not work for you.

How much should you keep in your emergency fund?

If we’ve learned anything from the COVID-19 pandemic, an emergency fund can be the number one protector from living paycheck to paycheck. But, we’ve also learned that it’s impossible to know precisely how much money you should save.

The traditional advice of saving for three to six months of expenses might not be enough for many people. If you had three months saved, you’re already three months past your protective layer, and if you had six months, your trial is coming to an end. So, how can you accurately choose how much money you should save for your emergency fund? I’m not sure there is a perfect answer. Instead, it might come down to risk tolerance. 

With investing, risk tolerance is a significant part of how you manage your stock portfolio. People with lower or more conservative investing styles may sell their stocks as soon as the market starts to dip because they fear significant loss. People more comfortable with risk may be more willing to take risks with their investments. 

So, for me, considering how much debt I’d be comfortable with if I were to run out of emergency fund money may be a good thing to look at — especially during unpredictable periods. 

The best thing you can do is understand what your bare-bones budget might look like, and challenge yourself to live on that income for a while to see how comfortable or uncomfortable you are.

If you’re in the position to save for these unexpected expenses, the time is always now. Otherwise, it might be too late.

The post Emergency Funds: Why, What Type, and How Much? appeared first on Mixed Up Money.

Talking about money can be intimidating if you’re dipping your toes into personal finance for the first time. It can be even more intimidating if you have to speak to a financial professional or someone at the bank to ask about your accounts or figure out what you can do to improve your situation.

But, one thing I like to remind people is that nine out of ten times, the person you’re speaking to at the bank isn’t going to be able to talk to you about your financial situation. Instead, they can speak to you about the products that their institution offers — and while that might be helpful in some cases, it’s not necessarily what you might need as a consumer.

For that reason, take a deep breath. You do not know less than the average person. On the contrary, you probably know more than you think.

All of this aside, here are some tips to help make speaking with a financial professional seem less overwhelming and more productive.

#1. Find the right person to talk to

When you are looking to speak to a financial professional about your money situation, the first step is to make sure you find the right person. What I mean by this is that not every financial professional is fit to speak about every aspect of your money. For example, the salesperson at the bank won’t be able to help you budget for your monthly expenses in the same manner that a fee-based financial planner might. 

A fee-based financial planner can help you with the following:

• Help you sort through your current financial situation to determine your needs and goals.

• Provide the education and information you need to manage your money better.

• Help you find the best investment tool for your personal experience — or manage your investments for you.

• Monitor your budget investments and help make adjustments when you experience a significant life change (like getting married or buying a home).

What is a “fee-based” financial planner? The fee-based part means that rather than earn their money by selling you tools and products, they instead charge an upfront fee or a payment plan that reflects the services you need. This ensures they act responsibly in only providing you with the financial products you need and will benefit from.

#2. Be clear on what area you need guidance

Whether you’re just starting or about to receive a significant windfall, the best thing you can do to prepare for these conversations is to be clear about what type of support you need. 

Although a financial professional can typically help guide you in the right direction, most of us will feel better prepared when we have done a small amount of research beforehand. It’s okay to look at your current financial situation by yourself. If nothing else, it will tell you how much you need to learn or how your money looks at this exact moment. 

#3. Use confident language

When you have to go to your bank to open a new account or ask questions about your current investment allocations, you must use confident language. Although we may not feel like we know it all on the inside, we are the only ones who know this to be true. Not the teller at your bank. 

Here are some examples of ways to ask about your financial products or tools at your institution of choice. 

For example, say your bank once convinced you to invest some money each month to make the most of your financial future. A good example is a bank opening a Tax Free Savings Account (TFSA) for you and setting up automatic contributions. But, unfortunately, they sometimes forget to mention that you have to invest that money to see returns. Otherwise, you’re treating that investment tool as a savings account. 

If you’re curious about your investments, say this: I noticed that I’m currently invested in _____. Would you please tell me:

• What types of assets I’m investing in

• What type of investment account they are in

• What the current management fee is

What are you asking?

• Am I invested in Exchange Traded Funds (ETFs), mutual funds (yikes), a Guaranteed Investment Certificate (GIC), stocks, bonds, real estate investment trusts (REITs), etc.? This will help you clarify whether you’re investing in the best available options for your retirement plan.

• Is my money currently held in a Registered Retirement Savings Plan (RRSP), TFSA, or an unregistered account? This tells you what investment tools you are now using.

• This tells you how much you are paying to have this financial institution manage your investments on your behalf.

Read: How Investment Fees Affect Your Money

Now, this is a very specific situation. But, if you’re unsure of what you should be asking and how to ask these questions, I again encourage you to find a financial planner who can help guide you through these types of conversations.

#4. Remember that you’re not alone

It might seem like you’re the only person in the world who is struggling to manage their money or get ahead financially. The reality is that that’s not the truth. According to a 2022 study, nearly one-third of Canadians find it harder than ever to pay down their debt.

It’s okay to ask for help. It’s also okay to admit you’re unsure where to start, how to budget or what any of this means. It’s a lot to take in — and the only thing you can do to begin to gain control is to start to self-educate — which you’re doing right now! 

If you’re looking for a fee-based financial planner, here are some of my favourite Canadian options:

Alberta-specific:

• Robb Engen

• Russ Dyck

Canada-wide:

• Kindwealth

• Spring Financial Planning

Now that you know what to say, where to start and who to talk to, it’s time to jump in feet first and finally get going on taking control of your finances. Good luck!

The post How to Speak to Financial Professionals When You Know Absolutely Nothing appeared first on Mixed Up Money.

Meal planning and meal prep have always been my mortal enemy. It’s not because I don’t like the idea of having everything planned and organized for my week or because I don’t like leftovers. But rather, the actual planning and preparation that stresses me out. But instead of going another year of having the what-would-you-like-for-dinner conversation 30 minutes before our child needs to eat and then panicking and having something not-super-healthy, we’re giving it a go.

In the first week back to work, I prepped a schedule of meals, picked up all the groceries we’d need on Sunday morning, and was pumped about the days to come. Immediately, I found that something as small as meal planning made me excited for a Monday morning and ready for a busy week because it was one less thing I’d have to worry about.

How do you choose your meals?

By no means was I strict or calculated with my planning, but there were a few things I did to make an agenda filled with meals.

Step 1 – Do your research

I spent about an hour reading through some of my cookbooks, scrolling through all of the food pins I’d saved on Pinterest in months past, and took a look at the level of difficulty and the cost of the groceries needed for each recipe that caught my eye. If the meal could go in my slow-cooker, I had a majority of the ingredients aside from fruits and vegetables, and they wouldn’t take a ton of time to prep or cook, they made the shortlist. 

Step 2 – Mind the agenda

Once I had some ideas for what types of meals would work and what kind of grocery list I’d be looking at, I made the final decision based on our schedule for that week. 

I knew that we’d both be home Monday but probably wouldn’t want to cook because it’s the first day back to work, that I had soccer Tuesday evening and my husband had coaching, that I had the dentist and my husband had volleyball Wednesday evening, that we’d both be home Thursday evening and that it would just be my daughter and I Friday night. Weekends were a free for all because we never typically know our plans until the day of, but I did keep a couple of ideas on the back burner that I could push forward to the next week, or that we could indulge in on Saturday and Sunday.

Step 3 – Assign a date

I wrote down all of the meals and assigned them to their dates and stuck them on the fridge. This way, both my husband and I knew what we’d be having for dinner, and my daughter could pretend she knew how to read and enjoy the process of how organized her family is (lol). 

Step 4 – Prepare for the worst

Always consider a backup plan. Before the week started, I also bought some easy meals – like a frozen lasagna or boxes of Kraft Dinner – just in case something changed or there was a night that didn’t go exactly as planned. 

What did we eat?

I found this recipe in a slow-cooker magazine I was gifted for Christmas. It had few ingredients, was low cost and wasn’t going to take much time to prepare. On Sunday evening, I set everything next to the slow-cooker so on Monday morning before work, I could toss everything into the slow-cooker. My Masterchef ass messed up the recipe almost immediately by tripling the garlic. My house erupted in the scent, my nostrils were burning, and I knew I had made the ultimate mistake. Had it been later than 6:30 in the morning I may have forgiven myself. But alas, I, unfortunately, had to start over and get rid of batch one. The second batch smelled amazing and I couldn’t wait for the end of the day to arrive. 

Time to make: I did it twice, so too long. But for you, probably 5 minutes of prep and 4-6 hours in the slow-cooker. 

Tasty: So good.

Leftovers: Tons!

Kid-approved: Not by my child, but she is v picky

Servings: 8

Cost-per-serving: $1.52

The homemade pizza idea came to mind right away because I knew it would just be my daughter and I making dinner that night and I wanted to choose an easy, quick meal that I’d be able to include her in. I know she loves cheese and that she would be pumped to do anything that involved her standing in her toddler tower. We bought pre-made pizza dough, pizza sauce, canned pineapple and a small amount of ham from the deli. It was affordable and fun! Also, it tasted so much better than a frozen or takeout pizza. 10/10 would recommend. 

Time to make: 10 minutes prep (double that if your toddler is putting on one shred of cheese at a time)

Tasty: Delicious.

Leftovers: We made two pizzas so that we would have enough for lunch the following day

Kid-approved: Duh. It’s pizza.

Servings: I eat a lot of pizza so hard to say the average, but let’s go with 8 (two pizzas)

Cost-per-serving: $1.84

This is one of my favourite meals to make, and it’s so unbelievably easy, good and filling. Not to mention, you have enough leftovers for a full week, which is amazing for lunches. We have had this meal before, so I knew that it was a win. I decided I didn’t want too much risk in our first full week of meal planning just in case a recipe turned out to be a flub, which happens a lot if you use Pinterest. Another slow-cooker option, but silly me forgot to prep her vegetables the night before, which has the opposite effect of the “less-work” meal planning, but it still worked out in the end, even though the onion made me cry. This ended up being the PERFECT – and I cannot stress this enough – perfect night for a slow-cooker meal. It was a snowstorm, very cold, and I had just finished a dentist appointment, so when I got home, the smell made it feel like I was being greeted by a warm blanket and a hot drink. Check out the recipe linked here.

Time to make: 15 minutes of prep, 6-8 hours in slow-cooker

Tasty: So bomb

Leftovers: Enough for a week!

Kid-approved: God I hope one day

Servings: 8

Cost-per-serving: $1.29

I know you’re looking at this and thinking, seriously? The avocado toast was your big “planned event” for a Thursday night that both you and your husband were home for once? False. The original plan was to make green beans and salmon, but things changed when we didn’t get more than four hours of sleep the previous night, and we both had exceptionally long workdays. By dinner time I was left wishing I had prepped another slow-cooker meal and I honestly wasn’t interested in slaving over a meal my child would deem “disgusting” with one simple face. So, instead, we opted for a simple but delicious backup plan meal and called it a night. 

Time to make: 10 minutes 

Tasty: A household favourite

Leftovers: Not a lick

Kid-approved: Surprisingly, yes

Servings: 2

Cost-per-serving: $2.75

One of mine and my husbands’ go-to meals when we used to eat out on the regular was Vietnamese food. One day I actually looked into how much it would cost to make the meal I was paying $13.25 for once a week and it turned out I could make it at home for so much less I was SHOOK. Price margins on food are probably the wildest controversy of all time. From that day, I have been attempting to perfect our favourite meal at home, and we continue to eat the deliciousness for a fraction of the cost. It doesn’t take a ton of time to make, and it’s easy to customize person to person if you aren’t sold on whatever your partner loves. All you need is some vermicelli noodles, vegetables of your choice, hoisin, hot sauce, peanuts, and spring rolls. 

Time to make: 20 minutes

Tasty: Amazing with a capital A!

Leftovers: Sometimes (but not very good the next day to be honest)

Kid-approved: She loves spring rolls, so sure?

Servings: 4

Cost-per-serving: $2.70

As someone who has a child that seemingly hates everything that I love, sometimes you need a go-to meal that comes in handy when you’re in a rush or aren’t down to play c’mon-I-swear-it’s-really-good. In our house, that meal is 3-ingredient pancakes. Not only are they quick to make, but they also are the only way I can get my child to eat egg, so we’ll call it a win.

All you do it mash one banana, mix in one egg and add a small amount of flour to get the right consistency. From there, grab a tablespoon and fry them up into tiny and delicious kiddo-made pancakes. This recipe makes anywhere from 8-10 pancakes and they are good in the fridge for up to 3 days.

So, how does meal planning help you spend less money?

Well, if you couldn’t already assume this conclusion based off of the average cost-per-serving, I’m not sure anything else I have to say will change your mind. But, I’ll try. The five meals we made cost less than we would spend on one date night out on the weekend. Not only that, but three of the recipes we made were able to feed us lunch for the remainder of the week, saving us a ton more money. The only additional expenses we had each day were homemade breakfast and homemade coffee, which are extremely cheap when you avoid takeout. 

Sure, it’s easy to say that we do this all the time and that we never opt for takeout, but that’s not the case. The real reason I love meal planning is that it makes our take-out nights or weekend outings seem more justifiable when we were responsible for our expenses throughout the week. 

One full day of planning, preparing the list and grocery shopping, resulted in less money spent, fewer hairs pulled and a lot more relaxing in the evenings. It’s definitely not for everyone (although it totally could be), but it’s something I’m excited to continue throughout the year, and see how big of a difference it has on our budget overall. 

What are some of your favourite go-to family meals?! Let me know in the comments! 

The post Is Meal Planning Budget-Friendly? appeared first on Mixed Up Money.

When it comes to finding motivation, brainstorming new ways to approach challenges, or literally any type of struggle with your money — it’s impossible to know where to begin. I say this, because I have been searching for the answers for four years now, and I’ve learned that there are no solutions on the Internet because no one has the exact same financial problems or goals as I do. Generally speaking, though? Sure. I mean, a ton of people are saving a down payment and a ton of people are saving money for their kid’s future college education. However, I can’t seem to find any articles titled:

“Hey Alyssa, this article will tell you exactly what you need to do step by step to save the exact amount of money you’ll need for your house price and also how much it’ll cost you to do all of that in your city and neighbourhood of choice on your income.“

Weird, hey? Usually there isn’t anything I can’t find online.

For anyone who is feeling the same way I do when it comes to seeking advice that is specific to their personal goals and financial lifestyles, here are forty prompts that might spark a unique way of looking at things.

40 financial prompts fit for you — and only you

Prompts to help you understand how money affects you emotionally:

1. It’s easy to spend money — which is why I…

2. Many people are trying to “Keep Up With The Joneses” — and I’m trying to keep up with…

3. I feel the richest in my life when…

4. When I look at my bank account I feel…

5. Money brings me joy because…

Prompts to help you take one small step in a different direction with your finances:

1. Today I will review my budget/spending/debts

2. In 10 years time I want to be able to afford…

3. I will calculate how much money I make per day and decide a reasonable amount I can save from that total

4. One bad spending habit I can try to eliminate today is…

5. I will open a high-interest savings account today to start planning for this money goal…

Prompts for anyone who is seeking more income:

1. If I lost my job tomorrow, I would do _______ to make income while seeking new employment

2. Have I asked for a raise since starting this job or in the past 12 months?

3. I will write a list of all my hobbies and star any that could earn me a side income

4. How much more income will make me happy?

5. Do I need more income out of necessity or out of desire?

Prompts for the person who is learning what they value:

1. Today I will research past spending and find the top three categories of spend aside from my needs

2. Today I will go through my belongings and declutter anything that no longer “sparks joy”

3. Of all of my belongings, I take most care of…

4. To me, self-care means…

5. If money did not exist, I would spend my days…

Prompts for the person who wants to learn more about investing:

1. I am willing to invest $____ of my current savings

2. Although I don’t know where to start, I will learn about investing by…

3. I don’t know where I’ll be in the future, but I want to save so that I can…

4. Why am I afraid of investing? Can I debunk these fears?

5. Today I will open a practice investing account and see what I learn

Prompts for the person who is ready to tackle their debt:

1. I will write down all of the debts that I owe on one piece of paper

2. The debt that weighs on my mental well-being the most is…

3. By the end of this year, I hope to pay off $________ of my debt

4. If I feel hopeless, I will be brave enough to reach out for help from…

5. What are three actionable things I can do today to start to control my debts?

Prompts for the person who needs an emergency fund:

1. Without an emergency fund, how will I continue to pay off my bills in case of job loss, illness, injury, etc.?

2. It costs me $_______________ to live each month

3. How many months of savings would make me feel comfortable in my financial life?

4. What in my life would I consider an emergency?

5. The place that makes the most sense for me to keep my emergency fund is in my bank account where I can see it/in a different place that I cannot easily access

Prompts for the person who hopes to renew their relationship with money:

1. I would like to feel _________ about money

2. The dominant emotions that come to the surface when I think about money are…

3. I will write one positive money thing in my journal each day

4. What is the difference between my first money memory and my most recent financial transaction?

5. I will create a positive affirmation for me and my money

Sometimes with money, the answer isn’t in a budget, spending detox or frozen credit card. Sometimes it has a lot more to do with our personal feelings, personal goals and how we’ve dealt with financial struggle in years past. You do not have the same income as the person telling you how to save — and that’s what sometimes makes it hard to understand why something that seems so simple to others can seem so overwhelming to you.

Start small with your money. Every teeny tiny accomplishment is going to impact how you approach your financial future (in the best way possible).

What prompt are you most excited to test drive this week? Let me know in the comments!

The post 40 Prompts To Help You Get Your Financial $hit Together appeared first on Mixed Up Money.

You know how they always say, “having a pet is expensive” and “you should prepare for a pet emergency?” Yeah, nothing could have described my 2020 pet ownership journey better. (Which, like, awesome. 2020 didn’t have enough going on.)

Over the seven years we had with our dog, we pretty much experienced every flavour of preparing for an emergency, from getting insurance to cancelling insurance to getting insurance again. Through it all —especially as we faced a real crisis this past year, 24-hour vet cares very much included — I’ve learned there are four key things you need to think about to be genuinely prepared (at least financially).

• Know yourself

• Know your coverage

• Save a pet emergency fund

• Plan for routine care

Know yourself

Let’s start at the beginning. 

Seven years ago, a goofy dog named Jacob joined our family as a loveable rescue mutt — part black lab, part local man of mystery. He wasn’t cheap, to begin with, but we rolled with the expected expenses, including a $700 cut on his paw. That’s the one that convinced us to look into pet insurance for the first time, but the policy we found wasn’t a good fit for us, so we cancelled after a few months.

Jump ahead a year, and now we’re starting to save for a house downpayment.

Wait, what? 

Go with me for a second. 

Suddenly, I have a bank account with thousands of dollars in it, and it made me realize that if Jacob ever got sick and needed the money for vet bills? I would have spent it in a heartbeat. Since I wanted to have both a dog and a house, I decided it was time to shop around again for pet insurance.

We found a better policy, planned an amount to save up to cover our deductible out of pocket, and our pet emergency plan was in place. We didn’t give it another thought until August 2020, when Jacob started refusing his favourite food and treats. $4,500 in emergency vet fees and diagnostic tests later, we had a diagnosis: cancer. The estimated cost of treatment? $12,000 total.

I will never forget standing outside of my first pandemic hair appointment and getting that number dropped on me because it confirmed what I already knew: I definitely would have spent our house down payment on the dog. “Do it,” I said to the vet. “Start the treatment.”

Now, this might not apply to you. Not everyone will make the same call, and you (and any partner or family you have involved in this) might have equally said, “He’s had a good life, and it’s time to say goodbye.” That is an entirely appropriate decision to make as well, and if you know you’re comfortable saying no to treatment over a specific dollar amount, that’s awesome.

The important part is that you think about this and make an educated guess about your reaction ahead of time. That way, you can decide how you want to prepare for it — and how much insurance coverage, savings, or both you’ll need to make your preferred course of action possible. 

Know your coverage

Getting back to that phone call outside my hair appointment: When I told the vet to start the chemo, I didn’t yet know if our pet insurance would cover it. 

When we got our policy, I did the responsible-and-incredibly-nerdy thing and read our policy cover to cover. However, it’s even more vital that you do this with pet insurance. Why? Because not only can coverage vary wildly (does your policy cover dental? Known issues with the breed of pet you have? Regular visits?), but you probably have obligations to keep your coverage valid, too.

For us, it meant that Jacob had to be seen by his vet at least once a year, and we were required to follow through on any preventative care measures the vet recommended to us — including all his preventative meds each year for things like ticks. If we skipped that one year, our policy reserved the right to deny us coverage.

Logically, I knew that we had followed all of the steps required for our coverage to be valid. But until I got a final answer from submitting the claim — and the incredible amount of supporting documents required — I had to make decisions like we might not be covered, just in case.

Save an emergency fund no matter what

That’s where our pet emergency fund came in handy. Since we had insurance, we didn’t need to save all that much to know we were covered in the worst-case scenario, but we did need to save up enough to cover our portion of the expenses, plus the deductible.

Our insurance policy through PetPlan covered 70% of emergency expenses per year, up to a total of $15,000, and we had a $500 deductible. That meant our maximum out-of-pocket costs for a covered emergency would be $5,000 — so that’s what we saved in case of emergencies. 

That cash on hand came in handy not only to make sure we weren’t carrying a balance on our credit card for the emergency vet visit but also for peace of mind. We knew that if a minor emergency happened and coverage was denied for some reason, we *would* financially recover from it.

Even if you have the most gold-plated pet insurance available, I’d argue that even a small emergency fund, saved in a high-interest account like EQ Bank, can buy you something invaluable: peace of mind.

Plan for routine care

Pet emergencies happen, but they aren’t the only pet expenses you’ll face. Part of being prepared financially for a pet means thinking about (and budgeting for!) their routine care. These costs vary wildly because you probably don’t need to spend $25 a day on a walker for your guinea pig, but you might need to for a high-energy dog if you work long hours. 

These costs, just like your regular monthly expenses, shouldn’t be covered by your emergency fund. A routine checkup at the vet isn’t an emergency, just like a haircut isn’t an emergency. So as much as you can, make sure you can cover (or your insurance covers, if that’s your jam and your preferred flavour of policy) anything routine and foreseeable for your pet. 

Being prepared gives you options

I’ll never shut up about how grateful I am for our pet insurance. It not only bought us the option to pursue chemo without it being a financial hardship, but it also bought us something unforeseen: the ability to save up for a different goal during chemo.

A month after Jacob got his diagnosis and started treatment, we found out we were pregnant since the year hadn’t been eventful enough. The almost $10,000 insurance paid out over his six months of chemo is pretty much dollar-for-dollar what we were able to save to prepare for my maternity leave, and those savings already bought us options and peace of mind as we embark on this new adventure. 

Insurance might not be part of your plan to prepare for a pet emergency, and that’s fine—as long as you know how you want to handle emergency expenses and have a plan to cover them, you’re as ready as you can be for the financial side of things. The emotional side? Well, my best advice is to take it one day at a time and enjoy every second you get with your beloved pet. I know I did with our sweet Jacob.

The post How to (Financially) Handle a Pet Emergency appeared first on Mixed Up Money.

If you’ve been working towards a significant financial goal for a while now, the day you finally achieve your *ideal* number should feel like a dream come true. But, sometimes, what’s more complex than actually saving up enough money to make a significant purchase is following through with the expense. 

When you make the final transfer or swipe your card, or drop off the check, you can feel something in your gut. It’s not the typical fear of an inability to afford the said item. You know full and well you’ve got this one. The problem? You finally have savings — so why would you want to let them go?

Whether this significant purchase is a new (used) vehicle, a shiny MacBook, or the downpayment for your first home — it’s a big deal.

I mean, you’ve likely been saving this money up for months, if not years. So it’s actually a freaking HUGE DEAL. Who am I kidding?

It’s okay to feel hesitant about a planned purchase

It happens so fast. You’ve been watching your account build and build, suddenly hit empty. $0. All within a matter of seconds or minutes. It’s exciting to purchase something new. Yet, you feel anxious. You are worried, even. It’s almost like you have major purchase blues.

You’re not alone. It’s normal to feel less stressed and less worried when you have a significant amount of money sitting in your bank account. If anything goes wrong, you can use that money to cover a considerable expense. It’s almost like a security blanket. 

But, the problem with this mindset is that it stops us from doing exactly what we plan to do with our money because we fear what might happen once we let go.

How can you remove the anxiety behind a major purchase?

1. Never put all your eggs in one basket

If the fear of spending money you’ve saved on a big purchase, like a mortgage or a vehicle, feels overwhelming, the real problem may not be a scarcity mindset. Instead, the problem could be that you no longer have a backup plan or an emergency fund. Before you spend any significant chunk of change, you need to set yourself up for financial success and less stress by saving for the “what-if” and “could-be” moments. Don’t put all of your eggs (money) in one basket (savings account). That way, when you let go of your money, you still have enough to cover any surprise expense.

2. Add a buffer to your savings goal

Just like we never want to let our gas tank run to empty, we never want to let our bank accounts get close to the red, either. For that reason, it’s okay to work a buffer into your savings goal. Why is this ideal? Say your latest financial goal is buying a new camera. If the price goes up or you want to buy a last-minute accessory, you can do so without any hesitation. However, if you don’t purchase anything extra, you can calmly walk away from that purchase knowing you’re not back at square one because you already have a small start to achieve your next financial goal.

3. Check your emotions

Money is emotional. For that reason, it’s always a good idea to continually remind yourself why you were saving. Your why is what keeps you going in moments of doubt or anytime you feel yourself slipping out of that motivational mindset that you need to accomplish any goal. You work hard to achieve financial goals. That hard work shouldn’t be for nothing. Money is meant to be enjoyed, and by telling yourself otherwise, you’re doing yourself a disservice.

When I paid off my debt, I had just come off of a year-long shopping ban, spending money only on essentials. Relearning how to spend responsibly felt scary and intimidating. It’s not a quick fix, and it won’t happen overnight. But by taking small actionable steps to get comfortable with something that will make you more financially capable is key.

This isn’t a small item that you randomly saw while walking the mall. If you’ve saved up for any major purchase, it’s clearly something that you’ve wanted for a significant period. 

Financial experts will always say to practice the 24-hour rule to help ensure you make the right decision. This is beyond that goal. Remember that. If we work hard to save, we deserve the fairytale ending that we’ve been hoping for over the past few months (or even years) to achieve our goal. 

The post How to Spend Money You’ve Saved Without Guilt appeared first on Mixed Up Money.

When we’re young teenagers, our parents will often help us set up our first bank accounts. Typically, they’ll open your account at the same bricks-and-mortar institution that they use for their financial situation. But, that bank may not be the best option for you. So, instead, consider looking at all of your options, including credit unions.

Credit unions are very similar to banks, but the main difference is that they are not-for-profit organizations whose mandate is to focus on customers first. Rather than seek a profit, like most traditional banks, credit unions’ goal is to provide the best possible products and services to consumers. 

Any profit earned by credit unions will go back into the community, its members or the organization’s growth. Although they are smaller than your typical bank, they are a fantastic option for anyone looking for a more socially responsible banking option.

First of all, I know it can feel daunting to switch banks and make a significant change to save your money. That’s why, rather than do all of the paperwork before you know what option is best, it’s okay to do both.

Why are credit unions an excellent option for your savings goals?

As you know, banks often come with a hefty side of fees. Whether it’s a cost to keep your money stowed away in your checking account or a service fee for using their ATMs, it can feel like you’re spending most of your hard-earned money just to use their services.

Credit unions are a great option because they have little to no fees for most of their products. Best of all? According to Alberta Credit Unions, you can find a massive network of surcharge-free ATMs across Canada to help avoid fee gouging. 

Whether your savings goals are short-term or long-term, you can take advantage of all the same kinds of products you would find at a traditional bank, such as investments, retirement savings plans, credit cards and loans. The difference, though, is that, unlike a bank, they won’t sell you products that you don’t need just to hit a commission goal. 

Do you really need more than one financial institution? 

When it comes to money, two common questions readers ask are whether or not it’s necessary to have more than one bank account and whether it’s okay to have those bank accounts open at multiple financial institutions. 

In most cases, my answers are always the same. Having more than one bank account can help you categorize your financial goals and have a clearer picture of where you stand. Having multiple financial institutions can be beneficial depending on your needs as a consumer.

For instance, having multiple high-interest savings accounts is my favourite way to save money. It allows me to attach a nickname to each account, set up automatic transfers into each account, and track my goals individually, rather than putting all of my savings into one place.

As for multiple financial institutions, this is another area that I use to my advantage. Some institutions have lower fees, like credit unions, and also better options for savings tools. However, there is nothing wrong with opening accounts at separate institutions so long as you can:

• Remember where each of your accounts is open

• Access them regularly to ensure there is no fraudulent activity, and

• Feel like they are working for your financial goal-setting.

How do you find a credit union that works for you?

Just like you would at any bank, becoming a member of a credit union is as easy as opening an account and purchasing shares for a small fee. 

Although purchasing shares can sound intimidating, it’s the opposite with a credit union. All this means is that you become a member of the institution, as well as an owner. In addition, you receive profit shares on any earnings, which can help your savings goals go even further.

Opening an account or adding a product to your portfolio can be done online or in-person at any of their branches, and with nearly 200 branches in Alberta alone, you’re sure to find a perfect fit.

TL;DR

Having more than one financial institution for your banking needs can allow you to take advantage of lower fees, higher interest options without leaving the security of your current institution. 

This post is sponsored by Alberta Credit Unions. All thoughts and opinions are my own.

The post How to Add a Credit Union to Your Banking Needs appeared first on Mixed Up Money.

Over the last few years, I have made a conscious effort to change my shopping habits. While at university, I followed the latest trends, and each clubbing outfit had a short expiration date. There was an unspoken rule that you couldn’t wear the same thing out multiple times. I had dozens of cheap crop tops from fast fashion shops like Urban Planet, Forever 21, and H&M. They were terrible for my wallet, the environment, and they would completely fall apart after a few washes.

After leaving university, I realized I had so few clothes that I liked. The problem? I wasn’t prioritizing timeless quality pieces for my wardrobe. I decided to start sticking to basics that I knew would last me years and cut my shopping trips down from monthly to quarterly. Because I was now buying more upscale items, my overall shopping expenditure remained the same.

What is the environmental and social impact of fast fashion?

At this time, I started learning about the detrimental effects of fast fashion retail on worker’s rights and the environment. I remember watching a news segment that showed mountains upon mountains of clothes flooding villages overseas. Was this where my clothes were going? Even the ones that I donated to charity? Apparently, yes. Many clothes go unwanted even at donation centres and end up in landfills across borders.

Some staggering stats about the industry are that it consumes the second-largest amount of water and produces 1/10th of the world’s carbon emissions. This is equal to the entirety of the European Union!

Fast fashion pollutes our lands and water resources – 50 billion bottles worth of plastic are dumped into the ocean each year by simply WASHING our clothes.

In addition to environmental destruction, the fast fashion industry poses human rights issues, as 80% of the industry is fuelled by young women’s labour in developing countries. These women have poor wages and working conditions, and by supporting the industry, you’re supporting this devastating cycle.

Global change to the industry is needed, as people are now consuming 4x the amount of clothing they did 20 years ago. A possible solution? Resale apps.

Resale apps are disrupting the industry by creating a similar online shopping experience for consumers at a lower price tag while eliminating the environmental and social consequences.

What is the resale marketplace like?

While vintage and second-hand clothing stores have been around for years, the introduction of resale apps has catapulted the industry and made second-hand shopping as accessible as ever, especially with online shopping being the only option during parts of the pandemic.

Typically a younger audience, these apps provide a place for buyers and sellers to congregate, clear some space in their closet, and find a good deal on their favourite brands. The apps tend to be easier to navigate on your mobile device, specialize in clothing, and are more aesthetically pleasing than traditional buy-and-sell websites like eBay or Kijiji.

Some apps, like Depop, also feature shop pages of your favourite influencers to get style inspiration or shop their closet. Other popular sites that I will be detailing and reviewing below include Poshmark and ThredUp.

If you’re looking to up your fashion game this summer while staying wallet-conscious, you may want to check them out. As someone who hasn’t ventured too far into the resale space but is highly interested, here is my first impressions.

My review of resale apps (available to Canadians)

#1. Depop

Depop is a colossal hit among Gen Z as 90% of its audience is under 25. Although it’s a U.K founded company, it’s grown in popularity among Canadians with 250,000 active users. Although there is a desktop version, Depop is explicitly made for mobile and is a cross between a shopping app and social media platform. It closely mirrors Instagram with seller’s profiles functioning as their storefront, displayed follower counts, and even an explore page.

What makes Depop unique is the increased usage of the app by social media influencers. PR packages and the unofficial rule that you can only wear outfits for a single post means that these influencers have closets full of clothes that they want to ditch. Depop allows them to create another form of income. Some of my favourite fashion-forward influencers have shops, including Emma Chamberlain, Grace Beverley, and Paige Lorenze.

The app is free to download for users, and the buyer and seller can negotiate shipping costs depending on where both parties live. Additionally, sellers pay Depop a 10% commission whenever they sell something.

First impressions:

I really like the app. When you first start, it will ask you to create a profile, provide details about your sizing, and track your location. Based on these details, the app filters items for you, making it easier to find your size and save on shipping by finding sellers in your area.

You can search for specific profiles, brands, or descriptions of clothing. It’s not too overwhelming like other resale apps I’ve experienced. You can find reasonable prices and items at a discount, but it will depend on the particular seller. Again, since Gen Z heavily uses the app, those are the brands that are more prominently featured, like Adidas, Champion, and Brandy Melville. I will be returning to shop for a few new summer pieces.

#2. Poshmark

Poshmark is a U.S.-based resale app available to Canadians as of 2019, although it’s been around for a decade. It’s another company trying to make a seamless merge between social media and shopping platforms. Like Depop, users can create profiles and follow, like, and share other users’ content. In addition to womenswear, Poshmark also features menswear, children, and homeware.

Another social feature from Poshmark is their “Posh Parties” that happen daily with different themes. Themes can include specific brands, styles, or clothing items, and users can socialize with each other while trading items related to the theme of the day.

Poshmark prices are more easily negotiable for buyers, but they charge a larger commission to sellers than Depop. The cost is $2.95 for every item sold under $15 and 20% for every item sold above $15.

Although they don’t have the same influencer backing, I was surprised by this list of celebrities with Poshmark pages, including Ashton Kutcher, DJ Khaled, and Serena Williams.

First impressions:

Poshmark is undoubtedly not as aesthetically pleasing or geared to the same younger audience. It seems to be the tale of two generations, Poshmark toward millennials and Depop being primarily for Gen Z. Both seem to have similar functionality and social features. I was able to filter for my size and location and follow pages that I liked.

As someone who is moving soon, I also made sure to check out their home décor section. Compared to Depop, which focuses on fashion and trends, Poshmark gives me a similar vibe to Facebook Marketplace. You won’t find your favourite new vintage piece or designer item, but you may find some great basic clothes for your kids or a cute workout outfit.

#3. ThredUp

ThredUp is another U.S.-based consignment app available to Canadians. It operates differently from Poshmark or Depop and has a similar model to a traditional consignment shop. Instead of sending individual clothes directly to buyers when you make a sale, you send a bundle of clothes through ThredUp’s free “Clean Up Kit.” By doing this, you essentially eliminate the hassle of communicating with buyers, posting pictures of the items, and coming up with prices.

ThredUp does take a cut of your profits for this service, more so compared to Poshmark or Depop. Below is the breakdown. Note that Canadians cannot sell to ThredUp but can purchase through their app, as they ship to Canada.

As a buyer, you have the benefit of seeing professional photos of all of the clothes and an entire team backing their quality, so you’re less likely to receive an item with an unknown stain or rip that the seller did not disclose.

First impressions:

My first impression of the site is that it’s fun and colourful. It doesn’t resemble a social platform like Depop or Poshmark and resembles a traditional store app like shopping online at Aritzia or the Gap. The brands are similar to those sold on Depop and Poshmark.

I noticed that the site offers many different sales and promotions, for example, 50% off your first purchase, 60% off for Memorial Day, etc. In comparison, Depop advertises its unique styles as opposed to prices. If you’re looking to make the switch to save money, ThredUp may be the shopping site for you.

Is resale going mainstream?

It’s truly amazing to see the early adoption of sustainable alternatives by younger generations. This movement has gone mainstream, with the world’s largest retail brands making changes to become more socially conscious. Lululemon made headlines recently when they said they would test out a new resale program in the next few months where customers would be able to trade in their Lulus for a gift card. Other companies that have started resale programs are Nike and Levi.

It’s certainly not about transitioning to second-hand in a day. But, if everyone started using a resale app and made minor changes to their shopping habits, it could significantly impact the environment — and your financial life.

The post Hot Girl Summer on a Budget: An Honest Review of Resale Apps appeared first on Mixed Up Money.