Earn or Burn Money Challenge

So, all the shopping is done.  The kids were very surprised at what they could get for $100.00  I forgot about all the Christmas parties and white elephant games that come with the holidays- spending alot more than I planned.  All the overtime at work is gone, thank God I got it while I could.  Now it's time to rely purely on our "lifestyle changes" rather than extra income.  We're up for it though.  I am getting very anxious about the end of the contest.  Did we work hard enough to win????  I really hope so!!!

We have just a little less than half of month of the challenge left! Leanne LeDoux and her coach Teri McVay give an update with how things are going for the family in this edition of the AMOCO FCU Earn or Burn Money Challenge.

This week was the beginning of the hardest part of the challenge for me.  It killed me to know that I had money in the bank and could not go spend it on Black Friday!!!  The shopper that lie dormant in me quickly emerged the night before and when I realized that I was not going to be going shopping, I almost cried.  I didn't realize how much it would affect me until my husband said I was drooling over the t.v. ads.  How pitiful???  I hope I can handle Christmas!!!  Our budget is $100 a kid......it's gonna be so hard!!!  Wish me luck!!! 

The LeDouxs are redefining their perspective of the holidays this year. Check out the video to see how the LeDoux family is making their final push in the AMOCO FCU Earn or Burn Money Challenge.

In this edition of the Earn or Burn Podcast, Leanne LeDoux gives us a brief outline on the family's strategy to cut back on Christmas expenses and how things are going with less than a month and a half left of the challenge. Check it out in the player below!

So, the holidays are quickly approaching and last month we set our holiday spending goals. As we get closer, I keep thinking about all the things that I want to get my kids and I have a feeling it is going to be a very trying shopping experience. They understand what our goal is and are very supportive, but that doesn't make it much easier on me.

So, maybe if I do some other stuff with them, like spend a day doing Christmas decorations or baking, they will feel that it is more special. We'll see. But we have set a goal and we are going to stick to it. It is going to feel SO good once we reach it and we will definitely reward ourselves then!!  I hope that everyone else is able to stick to their goals and feel great about doing it.

Christmas has gotten so commercialized and way out of control..... it makes it very hard. But one thing to remember that may make it easier is that we are not alone, the majority of the country is going through the same thing that we are. As Dave Ramsey says (so cheesy I know...) you have to say to yourself "I refuse to be a part of this recession". Good luck to everyone!!  Leanne

So we are getting ready to head into the holidays and I am looking forward to the challenge.  I have figured out how much money I need to reach my personal goals for the year and have come up with a contigency plan.  We'll see how it goes.  Every year around the holidays, there is less OT available and that was my initial plan- to work as much as possible.  So now I am forced to develop an alternate plan.  Eating out once a week (worked in August, why not now?), shopping with a plan so I don't buy extra stuff, not doing a turkey day dinner, etc....  Hopefully really focusing on spending will help.  We are not as close to where we want to be on our credit cards and I am starting to think that we may not get there by the end of the contest.  Regardless, we have made great strides in our efforts to reduce our total debt.  We still have some plans in the works, but not until after the contest is over.  I am obsessed with becoming debt free now.  And even when the contest is over, we are going to try hard to continue what we have started because I can totally see the light at the end of the tunnel!!!  How great would it be to keep your whole paycheck????  I almost can't imagine it. Another thing that will keep me encouraged is all the people that are looking to me for advice.... I want to set a really good example and show people that it CAN be done!!! 

Leanne

This month has been difficult. Going back to my weight loss analogy from a few months ago... this is our plateau. You have reached a certain goal with aggressiveness, then the excitement wears off and you run into a wall. We realized that we have hit this wall and it is either undo everything we have worked hard for so far this year, or pull up the boot straps and keep on truckin' it.

We have opted for latter. This month, we spent only about $200.00 is groceries-that was because we bought in bulk last month. I used a lot of coupons and took advantage of Kroger's double/triple coupons and saved almost $50.00!!! It also helped that we ate out ALOT this month. I think we were trying to make up for what we didn't spend on eating out last month!!!  I am not happy with this, so this month we are going to refocus!!! We are making good strides on paying off another credit card, but it seems like it is taking forever!!

Since I started my new job, I haven't worked much overtime and we are really starting to feel it. I am at the point that I don't know what to do-I really like spending the time with my kids and getting stuff done around the house, but I feel guilty about not bringing in more money!!! 

We both agree that money is not the most important thing, but it weighs pretty heavily while we are in the contest!!! The kids are back in school and sports are in full force which proves to be a huge challenge to my "home cooking" skills. Wish us luck through this slump...we need all we can get. Still waiting for those winning numbers...........Leanne

The LeDoux kids are headed back to school as well! Working on a tight budget, the kids were able to purchase the clothes and supplies they needed. Check it out in the video below!

Leanne gives a brief update as the kids head back to school and continue to cut costs to make headway in the challenge. Listen to her podcast in the player below!

Check out the LeDoux's tip of the month below!

School shopping all done!!!  We set a budget and stuck to it!!  We went through all the boys clothes, did some ownership shifting (hand-me downs baby!!) and developed our plan.  We told the boys that they needed to have at least 3 pair of shorts, 2 pants, and 5 shirts to start off with.  Mark had so many hand me downs, that he didn't need anything-and he was happy.  Leo was given $150.00 to buy whatever he wanted, as long as he met the minimum requirements.  He made me so proud!!  We went the Baybrook mall and let him loose.  Within 2 hours, he had 2 pairs of shorts, 2 pair of pants and a pair of nice shoes with $1.30 left over!!!  I know that it doesn't seem like alot of stuff for that amount, but he got some nice clothes.  He hit the discount racks and got some good deals.  At his age, it is important for him feel good about his appearance and I feel that allowing him to do it this way made him appreciate the money part and gave him a sense of responsibility!!  I am sure that he would have rather had more money to spend but he knows our goals and understands!!!  And even though Mark didn't need clothes, he did need shoes and he got to pick out two really cool pair.  So, in total, we spent $300.00 on the clothes and about $75.00 on school supplies/socks/underwear.  Not to shabby if I do say so myself!!  Developing a plan was the key to not spending so much money, and let me tell you..I felt right at home in the mall and that plan was a our saving grace!!  Good luck to everyone else, especially those planning to fight the crowds this weekend!! I do NOT have the patience. 

Last month was hard.  I did not get a paycheck at the end of the month like I usually do, so we had to pull from our savings.  It's a blessing that we had the savings there...I guess that's why it is so important to establish that emergency fund.  If we didn't have it, we would have been a month behind on some of our bills.  Now I just have to work to replace what we took out.  Despite that little mishap, we still managed to pay off another credit card!!!  Working alot of extra shifts is helping alot.  I have more days off with my new job so I will be able to spend more time with the family while still making extra money.  If you learn anything from us, learn that the reward for your little extra sacrifice is well worth it.  Whether it's cutting back on the things that you like or working extra- saving money is SO important and FEELS GREAT!!  It is such a great feeling to know that if something were to come up today....you're good.  "No prob...I got some money in the bank".  You just have to make a plan to put it back so it is there the next time.  That little extra cushion provides relief from your financial stresses 10 fold! I promise!!!  It is my understanding that the rest of the families are doing well and I bet they feel the same way as I do.  It is so hard being disciplined, and continues to be a daily challenge, but it is so worth it. 

Thanks to all of my friends for their support.  And to all of my husbands "homeboys" that take care of him (they know who they are and what I mean).  Our turn will come!!

Please pray for my grandma who is a very special supporter in the contest and is very sick right now.  She has given me alot of strength and advice during this contest and I want her to be there when we win!!!

I am off of orientation now, and I am so excited to get to work. I know that folks are tired of hearing about me going back to UTMB, but it is a big deal for me. I can't wait for it to open!! About the contest... we are doing well. I am working a lot at other hospitals and we are not eating out as much... however, eating out is still our #1 challenge. I am trying to stay on top of it, but I can tell it's going to be hard now that I am back on 12 hour shifts. Pray for me!!!

Summer camps are over soon and we are going to be getting ready for school. We have been saving a little out of each paycheck for vacations, now we'll use that money for school clothes and supplies. I learned how to make my own paper and pencils... just joking. I'm not going to go THAT far. My kids are definitely going to have to figure out what they have in their closet already and make a plan on what they actually need. I am looking forward to getting some advice from you folks... I haven't gotten any feedback lately. Come on... help us out!!!

Leanne

I am off of orientation now and I am so excited to get to work.  I know that folks are tired of hearing about me going back to UTMB, but it is a big deal for me.  I can't wait for it to open!!  About the contest...we are doing well.  I am working a lot at other hospitals and we are not eating out as much; however, eating out is still our #1 challenge.  I am trying to stay on top of it, but I can tell it's going to be hard now that I am back on 12 hour shifts.  Pray for me!!!  Summer camps are over soon and we are going to be getting ready for school.  We have been saving a little out of each paycheck for vacations, now we'll use that money for school clothes and supplies.  I learned how to make my own paper and pencils.....just joking.  I'm not going to go THAT far.  My kids are definitely going to have to figure out what they have in their closet already and make a plan on what they actually need.   I am looking forward to getting some advice from you folks....I haven't gotten any feedback lately.  Come on... help us out. 

Leanne

Check out the video below for the LeDoux family's tip of the month!

Well we should be on our way to victory. I just got my haircut by Leanne. She did an awesome job. She has done such a good job cutting the boys hair that I asked if she wanted to try to cut mine. She was nervous at first, but it turned out great. Looks like my barber is going to miss me!

Mark

I know it's been a while...
There's alot going on lately.  I am changing jobs- going back to UTMB and I am very excited.  I miss my UTMB family.  Right now, I am working extra and trying to get ahead.  I am very tired and my house is a mess.  I guess that's the price I have to pay in order to take a bigger bite out of our debt.  I am working 12 hours a day, trying to keep my house decent, trying to cook dinner so Mark doesn't have to (take the kids out to eat), amongst other things and I am feeling the pressure.  When I get stressed, I think about how nice it will be to pay off those credit cards!!!  That gives me the nudge that I need to make it through the shift!!  We have marky's party planned and I have been working so much that I haven't had time to do the shopping that I need to- so , once again, the procrastinator in me prevails!!  Some discouraging news- our electric bill...despite our attempts to lower our bill, it was $270 for June.  I'd hate to see what it would be if we weren't taking those extra steps!!  I want to sell the surburban, so if anyone is looking for a ride that holds 9, let me know.  It's in good condition.  I'll make you a good deal. 

The kids are enjoying summer camp, which makes me feel better about staying so busy at work.  But I still miss them!!  Leo has been gone for 2 weeks and I feel like it has been the whole summer already!!! 

Thanks Terry for being so patient and understanding!!  Leanne

Three kids, one razor. Watch Leanne LeDoux cut the family's expenses (and her kids' hair) in their latest video!

Here we are in the middle of June and I feel great! I feel like we have learned so much and we talk to so many people that say they are trying some of the things that we do and it is working for them too!!! Even if we don't win the money, our life has changed forever (but I still want the money). I look forward to the day that I am out of the contest and debt free so I can buy things that I need and want without feeling guilty.

I may not be able to shop like I want, but we are still doing things that we like. We went on our 2nd trip this year...yes, camping again. If you watched the video from last time, you can imagine how happy Mark was this time. We took the kids to New Braunfels to ride the river and play in the chutes. We spent a lot more than I had originally planned, but not more than what we saved for. We also learned some tricks to save some money that we didn't know about before. I am looking forward to the next trip.

In July, we will have our first birthday party while in the contest, so I am trying to figure out what I am going to do. He is going to be 8 and loves to do anything--if anyone has suggestions for birthday parties, besides having one at home, please let me know.

As for grocery shopping, Mark has done well so far. We spent almost all of our grocery money at the beginning of the month when he went on a shopping spree, bulk style, at Sam's. It is 3 weeks into June and we still have a freezer full of meat. We just had to buy a few things like milk, bread and veggies. Not sure if it is going to last the whole month though... I'll let you know. At the beginning of the contest, we got a lot of advice on how to save money and cut back and we used almost all of it and it really helped. We need some more help, so if you have any suggestions, please send them in!!! I look forward to hearing from you. And thanks to all of you that have contributed already! Keep it up!!!

- Leanne

With month four of the challenge underway, check the video below to see how May went for the LeDoux family as they recap their camping trip and some spending tips.

Check out the video below for the LeDoux family's tip of the month!

Leanne and Mark LeDoux recap the month of May, discuss their summer plans and give an update on cutting the boys hair in the new Earn or Burn podcast. Click the play button below to begin listening!

It is hard to blog when you don't feel like you are doing so good. We did so much in the first few months, it's kinda boring now. I am frustrated, as usual, that things aren't going exactly as I planned. I tried to grocery shop for 2 weeks at a time in the first half of the month, but I ended up short on groceries by day 10 and still went out to eat more than we planned. I am not sure where I went wrong.

So for the second half of the month, I am trying to do some shopping in bulk. I went to Sam's and bought a bunch of meat and other things. The idea is to stock up. I think that if I stock up, maybe I won't need so much each week. I spent a little more than what was allotted for groceries, but I think it will balance out when I don't have to buy so many little things on the next grocery trip. We'll see.

We met our savings, debt reduction and budget goals for April mostly because I was able to work some extra shifts that month. I am trying to work at least 2 extra shifts this month and had them scheduled, but I was canceled. If I can't get at least one more day in, I am afraid that we won't be able to meet our personal goals for the month. We have already met our goals for the competition, but we are trying to go above and beyond. It's kind of depressing and frustrating right now. I am really ready to just say forget it and go shopping!! Seems like that would be easiest right now..... but we are just going to keep on pushing through and try to keep the ultimate goal in mind.

- Leanne

We have been very aggressive with our savings and working on reducing our bills in the last few months... I thought that was the hard part. I will use the weight loss analogy to help everyone understand where we are at this point.

The first few weeks, it is easy to eat right and exercise because you see the pounds dropping off and everyone is telling you how good you look. As the days continue and your metabolism adjusts to the game, your weight loss slows along with your motivation. I believe that is where we are. We have shrunk all the bills we can and coupon clipping is not as fun as it was in the beginning.

However, we have done well so far and we are proud of ourselves. Out of all the things that we have done so far, the biggest and most important is awareness. Being aware of what you bring in and pay out. Recognizing a need versus a want and planning how to accomplish both. It is easy for me to make the extra money that we need, but I am not enjoying spending time away from my family. We all understand the sacrifice that we have to make to reach our goals and the harder we work now, the less we have to do later!!

As Dave Ramsey says...."To live like no one else, you have to live like no one else". I am reading his new book and it is helpful; however, I feel that some of his tactics are a little dramatic. The other book that I am reading is America's Cheapest Family--this has some really great ideas!! You guys should check them out!!

- Leanne

We went camping this weekend to Rayburn Park in Broaddus. We had a really good time and only spent $200.00 total, including food and gas--and we still had a half a tank when we got back!! I think that we could have even spent less had I planned a little better. We went with my dad and another family. We all split the cost of food/drinks and the kids had plenty to do with all the other kids there to play with. It was too windy to fish or swim, but they still had fun.

I definitely believe that vacations like this bring our family closer and we will continue to save money so that we can keep doing them. I think I want to plan for one family weekend a month...even if it is close to home or even just one night. At least one day to get away from everything and everyone else...just us. And good planning will keep it affordable!! I can't wait to see what else I can come up with!!! I'm open for ideas!!!

Mark has been really dedicated to reaching our goals. He sold his guitar, swords and knives that he has been collecting for years, and his awe inspiring "keg-r-ator". Between the garage sale and Craigslist, he made almost $600.00 to put towards our debt!!!

Another highlight.... After some crafty bill manipulation, eating leftovers and working a little extra, we have paid off our first credit card!!!! Yeah!!! That feels great!! As hard as it is, I think we're gonna keep on truck'n!! Go team LeDoux!!!

- Leanne

The LeDoux's are going camping! Check out the video below as they discuss how they've prepped for their camping trip.

There has been a lot going on in the last few weeks....we did great at the garage sale earning a whopping $404!!!! We still have quite a bit of stuff left, so I think that we are going to have another one soon.

Our light bill is GREAT!! We don't turn on the air or heat unless we have to. We leave everything unplugged that we are not using...plugging them in as we need them and then unplugging them again. It is redundant and it is just easier to leave them plugged in, but I have proof that it is worth the extra effort. We started towards the end of February and our first light bill went from $180 to $125!!!! And if that wasn't enough motivation to keep on unpluggin', this month, our bill for is only $108!!!! It's not just unplugging things that helped. We also called and negotiated our energy rate with the electric company. You should try it and if you need some help with what to say, let me know.... I was told exactly what to say by a customer service rep at the electric company itself!!! I can't believe it!! Now, I know that it won't be that great in the summertime, but that is all the more reason to keep on pulling them plugs!!

We went over our monthly budget last month, but to be honest, I think we did great!!! We have never been so aware of our spending and that is the first step in this lifestyle change.... Is there a 12 step program for spendaholics? This month will be different. Team LeDoux has created a strategy that is going to keep us on track...hopefully in first place!!!

We are planning on going on a camping trip with some friends this weekend, and I am afraid that it is going to be expensive. Anyone got any thrifty camping ideas for folks that don't have anything else but a tent? The biggest thing that I am worried about is the food (oh....and my white legs being exposed to the sun for the first time in a long time)....what is the best thing beside hot dogs to take camping on a budget????

- Leanne

The numbers are in. The data is compiled. Check out the image below to see the LeDoux family's progress in the AMOCO Federal Credit Union Earn or Burn Money Challenge.

From saving money on their electric bills to trimming their cable bill, the LeDoux family has been hard at work trimming expenses in their everyday life. Check out the video below as they discuss how they've gone about making these cuts.

It's not just Leanne and Mark working to cut back and save money. Check out the video below as one of the LeDoux kids helps the family with clipping coupons! By the way, watch him wave at the camera...

Everyone keeps telling us how great we are doing...we did meet our monthly goals and I am proud of that. However, no on else talking about the little things that happen everyday. Maybe it's just me but this is hard!!! I am having a really hard time getting this budget thing down I am feeling overwhelmed and right now really want to lay it down and forget about it. It seems like it would be so much easier... but I know in the long run, it will be better for my family if we can just push on through it. I know that we are not the only ones having a hard time and a lot of people can relate. All of my friends in the competition are doing so good and that is what they are talking about in their blogs... I wanna hear what is difficult and how they are getting past that. That is what this is about.

I am "financially depressed". I am SO concerned about how much money I spend, I don't want to spend any of it. This week, I have not put any money into my envelopes. My house is bone dry- I have not done any grocery shopping in a week (remember, I shop a week at a time). I am out of toilet paper, paper towels, baggies, milk, bread... almost everything.

But I can't get myself to go to the damn store. I keep thinking... we don't need that. I have some essential meat and potatoes, and that is what we have been eating. I feel like I need to use coupons to save money but it is incredibly stressful to figure out which store has the cheapest stuff. "Is the coupon really saving money because the generic is cheaper?" "What coupons do I have that fit this sales paper?" I don't have the time to do coupons. My house is a mess, I feel like I can't keep up with anything. And on top of that, I have to get another damn job so we can cover our bills and save...

Overall, I feel like a failure. I haven't balanced anything, much less a budget!!! My ultimate goal is to develop the tools that it takes to dig myself out of this hole. It will be hard and I know that it will be worth it I just have to remind myself of that when I am so stressed that I want to hide under a desk...

I know that I am not the only one... please give me any advice that you think will help me in any way. The winning lottery numbers would be best though!!!

Thanks for listening.

- Leanne

From the entire LeDoux family, we just wanted to say thank you to all of our friends and family for being so supportive. From giving some helpful advice and buying us lunch (and drinks) to giving us food and coupons... everyone is genuinely understanding and supportive. We even have some folks donating items to our garage sale!! We need all the help we can get right now, and we love all of you for what you do!!! Only 9 more months to go!!!

On a side note, I would like to send my thoughts and prayers to my husband and the rest of the Fletcher family for the loss of their leader. "What don't kill us will only make us stronger." I only hope that God gives me a portion of the strength that Mark has -- I am stronger just being close to him. That is why I know we will do well in this lifestyle challenge. It's not about winning the money, but making the right choices in our life so we can truly enjoy what we have been blessed with.

Sorry for the emotional blog... it's one of those nights.

- Leanne

We did SO good during the week. I only spent 10 of my 25 allotted buckaroos for the week. Mark also did well. We were very proud of ourselves until this weekend. We suck!!!!! I was totally stressed....we started using the card, and I started pulling money from the envelope when I wasn't supposed to.

After much fret, we sat down last night to "debrief". We have agreed that we will fill the envelopes, then leave them at home. I will not use it as a wallet - it is just too easy to pull from it in a hurry.

We could not access our account online last night, so we used CUART to try to find out where our money went. Thankfully, we have been keeping all of our receipts and were able to account for it. You should have been there when we heard what our balance was and all of the transactions that took place.... we were like "someone must have hacked our credit card again, we didn't spend all of that". When we were done, I felt so stupid. It was very discouraging.

However, it was a learning experience. All week we were thinking that this is going to be a cake walk. Well, this weekend was a reality check. We have no self control when it comes to runnin' the streets. I talked Mark into decreasing his TV time so we can save money on cable and we will need to look into some other cell phone options....maybe a different company. The other thing that I am very discouraged about is the fact that I can't find a part time job that can help give us a boost. I have never had a problem with that.

- Leanne

We started using the envelope system this week... so far so good. Actually taking the cash out of the bank and putting it in designated envelopes is definitely regulating my spending thought process. It is hard to stop and pay $4.62 for a cup of coffee (as much as I love it) when I see the actual cash that I have left to spend, and I know that little bit of green has to last 2 weeks.

Going to the grocery store was hard because it took a lot of time, but now that I know I only have so much cash for that trip, I pick up the store brand items instead of the name brand. As I go through the store and pick stuff up, I ask myself "Do I really need this?" and usually end up putting it back. It has only been 4 days since we started, and it is turning out to be a lot less stressful than I thought it would be. I think we can do this. And best of all, my kids are on board!!! Mark didn't spend any money Monday... thought he was doing good until he spent $600.00 Tuesday (speeding ticket and motorcycle maintenance). Maybe my saving will make up for his spending... that's a switch!!!! This should be good...

- Leanne

Get to know the LeDoux family better! Watch the video below as they discuss their financial background, their tips on grocery shopping and their goals for the Earn or Burn contest.

So, here I go. My first blog....ever. I am starting to feel a little worried about my habits. I spend money so easily. Today, all I was supposed to do was take the kids to the Mardi Gras Parade and come home. We ended up spending $50.00 on lunch (there were 6 of us) at the Spot. Then we got slushies on the way home...another $16.00!!! I hate that I spent that much money, but I had so much fun!!! This is where the envelope system is going to have to work. I just have to figure out how much money I can give myself for "fun" and makes sure I stick to it. Then, if I can figure out how to tell my children "no", that would be great. Any tips?

I was doing some online searching for money saving tips and found a website that has a lot of great suggestions. It's www.tiphero.com. Check it out! Also, if you want to try coupon clipping I found out some local information about our grocery stores. Start with the sales paper, then look through your coupon stash to see if anything matches up. Use your coupons with the items that are already on sale. HEB does not double or triple coupons, neither does Wal-mart. Food King and Kroger triple up to 35 cents and double up to 50 cents. I plan on trying it.... I'll let you know how it goes and if there is anyone out there already successfully "coupon-ing it", give me some helpful hints because it seems like it is going to take some work.

- Leanne