Idea from Kiplinger's: want to join me in saving money? Drastic measures. . .

[Alicia64]

I was reading in Kiplinger's financial magazine that, generally speaking, when budgets have "leaks" that the money tends to leak out in the same place over and over.

 

Like on vanilla lattes each morning kind of thing. Or dinner out five times a week. (Ha, ha! kidding.) Or shoes if you're a shoe-aholic.

 

So I looked at my statements and decided that I'm going to challenge myself to stay out of the stores where I lose all my adult sensibilities and overspend: Target, Michaels, Ben Franklin and several "fun" aisles in Walmart.

 

You won't find me spending much at the fancy mall in our town. No, no, I overspend at the discount stores.

 

So my plan is to stay out of these stores for a year starting today: June 25, 2010.

 

When I need something that only Target has (like our particular brand of sunscreen), I'm sending dh in!!

 

Also, each month I plan to add one new, great idea to my budget plan.

 

I would love to do this as a group. Would anyone like to join me?

 

(Please?)

 

Alley

[Jyniffrec]

What if it is school books that you blow your money on? ;)

[PentecostalMom]

Oooo, ooo, me, me! However, I cannot send dh in. I will just have to be diligent! The only place *we* really overspend is eating out. We have been really blessed with a good job for dh, but we scrimped for YEARS!! It is so nice to go out...and I don't mean McDonald's go out. We like to go to dine-in-and-have-someone-serve-us type of eating. Like Texas Roadhouse, Olive Garden, etc. Adds up quickly! I really have to work on meal planning!

[Jyniffrec]

Oooo, ooo, me, me! However, I cannot send dh in. I will just have to be diligent! The only place *we* really overspend is eating out. We have been really blessed with a good job for dh, but we scrimped for YEARS!! It is so nice to go out...and I don't mean McDonald's go out. We like to go to dine-in-and-have-someone-serve-us type of eating. Like Texas Roadhouse, Olive Garden, etc. Adds up quickly! I really have to work on meal planning!

 

I must admit,this is us, too. I just love going out and I am not very good at meal planning. I even have a great big freezer to put things in.

[Lara in Colo]

I'm really bad about buying vegetables so that I can later scrape them out of the bottom of the fridge. (don't get me started on cottage cheese).

 

I suggest you go to the store with cash, just enough to possibly cover a cost increase from the last time you bought it.

 

Lara

[PentecostalMom]

What if it is school books that you blow your money on? ;)

:lol:

 

I do that, too! I have actually gotten a lot better since ds graduated. My goal is to ONLY use paypal. I will sell stuff and only take paypal, then buy stuff with paypal. No money in paypal = no books! Saving for my next SL core right now. Oh, and Apologia science. I need to add it all up then I will know the total! It's helping me declutter my house at the same time, YAY!

[Alicia64]

Jyn ~ I know people are going to jump on me for this but I'm starting to think that those of us (:glare:) who have problems w/ money use homeschooling as an excuse to continue spending badly.

 

So I have friends who have garages full of curriculum. Don't get me wrong: I love curriculum too. And the producers of curriculum (my apologies to SWB b/c I think she and her mom rock) can be brilliant marketers.

 

I'm not talking about a great math program or, for example, Writing With Ease. But I AM talking about curriculum that gets you to buy the $24 cd and then adds more "you should see this" type of stuff and, all of a sudden, you've spent $100 on something you likely could have pulled out of the library.

 

We understand that commercialism is behind the toy asiles -- we're not dumb about that. But get us into a curriculum fair and all of our good common sense flies away. Hey, it's for our darling's education, we justify.

 

And that's what they want us to think.

 

Everyone ~ This is what I assumed. That each one of us would have our own vulnerable financial spot: vegetables, curriculum, Target, eating out etc.

 

So, how do we form a thread for just us where you can put your vulnerability in your signature and then we can discuss the overall process of getting stronger in dealing with our spending issues?

 

I don't know how to set it up on WTM.

 

Alley

[dm379]

Does it *have* to start today?? I'm going purse shopping with a friend in a few hours. :lol:

 

Our weak spot is eating out too. We're lucky in that we're not hurting for money but dh thinks a new truck would be nice.

[dragons in the flower bed]

So I looked at my statements and decided that I'm going to challenge myself to stay out of the stores where I lose all my adult sensibilities and overspend: Target, Michaels, Ben Franklin and several "fun" aisles in Walmart.

 

Okay. I will stay off this board for one year, starting today.

[Disney Dreaming]

:iagree:Hmmm. Ebay, Target, Walmart, Amazon, SL, Homeschoolclassifieds, A Beka, fast food, sit down restaurants...I am sooo guilty of this. I also am bad about buying fresh veggies and friut and having to throw them out because they don't get eaten. I am with you! Thanks goodness I have already bought next years curriculum!:lol:

[lisamarie]

When I need something that only Target has (like our particular brand of sunscreen), I'm sending dh in!!

 

 

This would not work for me. Every time I send DH to the store (like tonight), he comes home with 5 expensive things that we don't need. I know that sending him will equal a good $30-50 of overspending.

 

My biggest weaknesses are amazon and walmart. I need to stay away from those places. I can't promise I will go a year and never step foot in walmart or buy off amazon, but I can commit to only buying things that I really truly very much need from those places. Does that count?:D

[Starr]

I was reading in Kiplinger's financial magazine that, generally speaking, when budgets have "leaks" that the money tends to leak out in the same place over and over.

 

Like on vanilla lattes each morning kind of thing. Or dinner out five times a week. (Ha, ha! kidding.) Or shoes if you're a shoe-aholic.

 

So I looked at my statements and decided that I'm going to challenge myself to stay out of the stores where I lose all my adult sensibilities and overspend: Target, Michaels, Ben Franklin and several "fun" aisles in Walmart.

 

You won't find me spending much at the fancy mall in our town. No, no, I overspend at the discount stores.

 

So my plan is to stay out of these stores for a year starting today: June 25, 2010.

 

When I need something that only Target has (like our particular brand of sunscreen), I'm sending dh in!!

 

Also, each month I plan to add one new, great idea to my budget plan.

 

I would love to do this as a group. Would anyone like to join me?

 

(Please?)

 

Alley

I do believe you've hit a nerve but I don't see anyone jumping to join you.:lol: I've got to think about this.

[bookfiend]

Along this same line, I have really resolved this year to just use what I have. After buying tons of shampoo and toothpaste with great coupon deals, another book on Benjamin Franklin at a garage sale, 1/2 off candles from Bath and Body, and more, and more, and more, and all great deals... I now have no place to put anything. So, we need to save money, and I just need to USE what I already have.

[Carol in Cal.]

What if it is school books that you blow your money on? ;)

 

Yes, I would need to stay off book websites. Not happening here.

[Truscifi]

I'm a lotion-aholic. I've already told dh I am committing to not buy any more lotion until we have used every.single.bottle in the house. I have some in my purse and in the car too, but those are for emergencies. (Can one really have a lotion emergency? Perhaps I should include those in the 'to be used' category as well.) So I'm in at least for lotion. I'll have to ponder other things I need to give up - we have already cut out most of the 'extras'.

[Dana]

Okay. I will stay off this board for one year, starting today.

 

:lol:

 

It does get costly.

 

On the other hand, from this forum (thanks SWB!) I've found a couple of programs that have worked very well for us and I'm sure I wouldn't have run across them on my own or have thought to try them.

 

See you in a year! ;)

[Luckymama]

Along this same line, I have really resolved this year to just use what I have. After buying tons of shampoo and toothpaste with great coupon deals, another book on Benjamin Franklin at a garage sale, 1/2 off candles from Bath and Body, and more, and more, and more, and all great deals... I now have no place to put anything. So, we need to save money, and I just need to USE what I already have.

 

 

I started "using up" all the accumulated hair products and bath products in May. I didn't spend much real money on the items, in fact most were free after coupon + rebate or catalina deal at a grocery store. The shelves in our quite large bathroom closet were just getting too full! Many of the bottles were used for a week or two and rejected for many reasons (scent, resulting texture, phase of the moon, who knows? :tongue_smilie:)

 

The girls moan about their hair but until they finish up all the opened bottles of shampoo and conditioner, I'm not "buying" (again, not paying money) their favorite brands. I know the brands will eventually go on a low enough sale that they will be free to me. Until then, we practice patience and empty containers :001_smile:

[....]

Hi. I already do something like this, but love to chat about it!

 

We're on the Dave Ramsey TMMO (for almost 2 years) and I have a STRICT budget. I write out every single expense and budget for it throughout the month. I also pay for things with cash, so I can't go over budget (this really helps). I have a wallet with different pocket envelopes in it and divide the envelopes into categories (groceries, household consumables, clothing fund, blow money, etc) and fund the envelopes with cash at payday. You spend a lot less money when you pay with cash, as opposed to debit card. I also found that I have more spending money when I budget for it. I CAN go get a cup of coffee or buy a cool T-shirt, if the cash is in the envelope.

 

We also eat out once a week and plan all the other meals on a dry erase board in our kitchen. The entire family knows EXACTLY what's for dinner a week ahead of time. I use E-Mealz a lot and don't go to the grocery store without a list.

 

This sounds horribly painful, but we've managed to dig ourselves out of almost $80,000 in debt (this included car payments). We also have a giant savings account going...

 

Good luck! And I wouldn't dare say anything negative about what you're doing. My extended family makes fun of me, too - while they blow 100 bucks at Applebees, buy leather furniture and default on their student loans. I say Go for It!! :001_smile: Like Dave Ramsey says, "Live like no one else now, so later, you CAN live like no one else!" :D

 

Good for You!! :)

[SailorMom]

We like to eat out, and I hate the dreaded 3:30 pm "what am I going to make for dinner" process of trying to find something I have all the ingredients to make. I just did the OAMC, and I'm hoping we eat out less because of it.

I leak money on books, and I have a Nook - so it's even easier to just buy them online without really seeing it leaking. Also - DH is a horrible spender (I'm the thrifty one), so no way is he going shopping for me!!!

But yes - I do the same thing - those few aisles at Walmart (the seasonal crud always grabs me...), anytime I go to Target (I avoid it), and actually, boating and home improvement stores.....

Don't know how to stop!!!!!!

[Brilliant]

Yes, I would need to stay off book websites. Not happening here.

 

I would have to stay off the internet entirely. :D

[Excelsior! Academy]

Now wait a minute. There is no reason to bring curriculum or any type of books, for that matter, up in this discussion.:D

[Alicia64]

I'm already facing a challenge: I like to shop at Costco for some of the value they provide, but I get suckered into stuff like huge things of Jelly Bellies etc.

 

I think i can be strong in Costco. Just not Target.

 

I haven't heard about this Dave Ramsey guy. I'm ordering his book -- at the library -- today!

 

Alley

[Lacie]

Our problems have been the mexican food restaurant that opened up about 3 blocks from our house and the gas station across the street.

 

Having great mexican food so close by is such a temptation.

[Impish]

I need to get both of us to really commit to Dave Ramsey's style of budgeting. Problem is, Wolf won't even read the dang book :glare: Its hard to set a budget when I'm the only one doing it, but I'm going to have to.

 

Books are my issue. I need to sort out what we're doing next year (all 3 kids are starting 'formal' hsing...according to our school board, Tazzie is in gr 1:001_huh:) and I tend to just buy, buy, buy if its an easy reader, etc.

 

Meal planning has to happen too. One big problem is that we don't have a BBQ, and cooking when its hot out is so gross. Heats up the whole main floor of the house, and we don't have air conditioning!

[Jennifer in MI]

Along this same line, I have really resolved this year to just use what I have. After buying tons of shampoo and toothpaste with great coupon deals, another book on Benjamin Franklin at a garage sale, 1/2 off candles from Bath and Body, and more, and more, and more, and all great deals... I now have no place to put anything. So, we need to save money, and I just need to USE what I already have.

 

We did this last year and continued it this year. I decided not to go into a store without a list - EVER. Really. It worked. This year we've already had almost $10,000 in unexpected expenses and we've been able to absorb them.

 

I'm a lotion-aholic. I've already told dh I am committing to not buy any more lotion until we have used every.single.bottle in the house. I have some in my purse and in the car too, but those are for emergencies. (Can one really have a lotion emergency? Perhaps I should include those in the 'to be used' category as well.) So I'm in at least for lotion. I'll have to ponder other things I need to give up - we have already cut out most of the 'extras'.

 

Yes. One can have a lotion emergency. I cannot STAND getting my hands wet and not having lotion right afterward. I keep lotion in my car, swim bag, purse, different drawers around the house, etc, etc, etc. But, I usually use those free samples given to you at hotels for my emergency stash.

 

I'm already facing a challenge: I like to shop at Costco for some of the value they provide, but I get suckered into stuff like huge things of Jelly Bellies etc.

 

I think i can be strong in Costco. Just not Target.

 

I haven't heard about this Dave Ramsey guy. I'm ordering his book -- at the library -- today!

 

Alley

 

That's what Costco hopes you do!!! LOL Dh and I run a concession stand for our local Little League. We shop at Sam's. It's SO hard just to buy things for the stand and not for us!!!

 

I'm with you on this challenge, but I've been doing it for over a year already!!

[MaryCatherine]

I did something similar a few months ago - I had a No-Spend-April. I committed to not spending any extra, except for bills and groceries/gas, for the entire month. I don't think I could've even considered this for a year, but a month was doable. Plus what really helped was that I had a specific goal - paying my school taxes. I needed $600 and I realized that I blew about that much each month on eating out, books, work out dvds, snow cones, coffees, etc.

 

The trick to keeping the kids on board was keeping them well fed. I needed decent meals, every meal. I planned with left-overs, I froze extras, I took food to work, the kids learned a few meals, I got into the habbit of cleaning the kitchen every night, and we all ate together a lot. It was really nice.

 

At the end of the month, I wrote a check for $608 to the school district, then we went out for mexican food!

 

My point is, if a year sounds horrible, try a month. It's very doable, it's great for your family and you probably won't go back to the way it was after the month is over.

[Renee in NC]

The only place we leak money in our budget is eating out, which is almost always caused by poor planning on my part, especially when we are busy. The problem is that we have *no* money for eating out in our budget, yet we do it anyway. :glare: That means that it has to come from somewhere (!:001_huh:) I am committed to not eating out for a year. :tongue_smilie:

 

I think to do that, though, I need to keep some easy to fix meals at home. When we are going to be out of the house (and I know it) I need to pack a meal to take, even if I think we can hold out until we get home. Maybe a cooler for the van? I also have to figure homemade pizza and boneless hot wings into my menu so that dh gets his "fix" with little outlay.

[Mynyel]

I am in :) Howevver I can't say I will never go to Micheal's or AC Moore. I will be needing stuff from there after I graduate from school. Although it will be business related instead of personal!

 

I really don't have one weakness. One reason is we have never made enough money to just shop away. However I am a sucker for a good deal and I do tend to overspend when going to WalMart :)

 

I will try to do better and think.... need or want if it is a need I will resolve to put it back on the shelf!

 

Woot...let's do it ladies...and think an excellent side effect is less clutter in the house!

[Mynyel]

The only place we leak money in our budget is eating out, which is almost always caused by poor planning on my part, especially when we are busy. The problem is that we have *no* money for eating out in our budget, yet we do it anyway. :glare: That means that it has to come from somewhere (!:001_huh:) I am committed to not eating out for a year. :tongue_smilie:

 

I think to do that, though, I need to keep some easy to fix meals at home. When we are going to be out of the house (and I know it) I need to pack a meal to take, even if I think we can hold out until we get home. Maybe a cooler for the van? I also have to figure homemade pizza and boneless hot wings into my menu so that dh gets his "fix" with little outlay.

 

Renee...it might take some time BUT you can find excellent recipes online for meals that you like when eating out OR just make it up yourself!

For instance we don't go out to Olive Garden anymore (haven't for years) because I found and excellent alfredo, stuffed mushroom, mozzarella stick, spaghetti sauce/meatballs and various other things that they serve and fix them at home!

There are a few websites that offer "copycat" recipes for restaurant food.

I mimic sandwiches from Subway and Charley's (in our mall here) at home.

My family says that my stuff is better than the actual places :) Course they may just be saying it but :) that's OK!

 

Just a thought

[Tap]

I am not in a place to join you this time but I can share a story with you. 10years ago dh and I decided to get out of debt. We decided that no matter what, we would get ourselves out of debt in 1 year. We broke down our most basic expenses, and figured out that we could do it if we really, really skimped. We decided that we could do anything for one year. We only made 40,000 a year at the time, owned a home and had two kids. So, it wasn't like there was a lot to spare anyways. We had accrued a credit card debt of medical bills and since we lived in a small town, shopping was limited and more expensive than the city.

 

 

Some of our weaknesses/strategies:

We used to buy and sell a newish car every year and typically had 3 (sometimes 4 cars) at a time. We would buy a car that was under priced, drive it for a year and then resell it. We lived in Oregon and didn't have to pay sales tax on the purchase so we didn't loose money.....except paying insurance on the vehicles. We decided to sell all the cars we didn't need, kept two that were paid off and had cheap insurance. This saved us $100 a month in unnecessary insurance payments.

 

We sold everything we didn't need that year. We sold our camper and had several garage sales. The money went to a savings account to smooth the bumps for the year.

 

We did the debt snowball technique and worked hard to pay off all of our interest bearing debit. We sat down and mapped out exactly how long, and what the balances would be on each debt, month by month (including interest). This really helped to see where we were headed and to really see the interest. When we started paying off bills we were able to add some extra money here and there (I would work overtime/dh picked up side jobs with a contractor) we could see how far ahead we could get our selves with a little extra effort.

 

I only bought what was absolutely necessary. If I needed some ibuprofen, I bought the most economical Small bottle. Even if it would have saved us money in the long run to buy the biggest bottle, we bought small to protect the budget. Everything was bought this way (except non-perishable groceries). If we didn't HAVE to spend the money, we didn't. Not one dollar went out that was not analyzed as a need.

 

On the rare occasion that we ate out, it was at a fast food restaurant.

 

Birthdays and holidays were very budgeted for the kids, nothing for dh and I. Birthdays for the kids were decorated with handmade decorations/recycled decorations, had homemade cake, and punch. Very simple and cheap. Halloween costumes were hand made/pulled together from things we already had. These types of things were important. We get in such a pattern of luxury with our kids that is unnecessary. It is hard to cut back on them, but it is just one more 'hole in the budget'. We didn't budget more for holiday months (except Christmas), we either saved money from the month before, or only used the money we had available.

 

We stretched everything a little further. Clothes for the kids were not replaced because they got a smidge short in the legs or sleeves. They weren't in two-sizes-too-small clothes but I didn't buy two sets of clothes in one season just because they were starting to outgrow the first set. My kids only had enough clothes to last a week. No extras. One seasonal jacket, one pair of seasonal shoes etc (we live in the PNW with distinct seasons-the winter snow jacket isn't practical for late spring).

 

Dh and I didn't get clothes for a year. We just made do. We knew that it would result in us needing more clothes the following year, but we also knew that if we didn't stay on our strict budget, it would be tooo easy to start justifying other expenses as well.

 

Other things were stretched as far as we could go. Tires on the cars weren't change just because they looked low. (not to unsafe levels, but tread was measured and monitored). We didn't drive somewhere that we didn't have to. We lived 15 minutes by car, away from anything other that a small town grocery, so by watching fuel costs, it helped us to stay out of stores as well.

 

We saved scraps of food. We ate very healthy at this time as we were ahead of the organic/no hfcs/ww flour trend so groceries were Expensive without much competition in the market and a small town to boot. Stale bread or heals, were ground into bread crumbs. If I was making a fruit salad and wanted something like grapes, I would buy 8 grapes. Not a bunch of grapes that would go bad, only exactly enough for what was planned. Left over food was served with the next appropriate meal, and served up first. Not just left to go bad in the fridge. I saved everything I could. If making something a different way meant that I could save 10cents (like canned vs. frozen), I saved it. EVERY penny was watched.

 

Alcohol, pop or individual sized anything to drink, was huge luxury and treated as such. Snack for lunch boxes were bought in economy size and put in to baggies. Baggies were reused as possible. Foil was a commodity to not be wasted.

 

I bought no books and used the library. ILL was used for anything our library didn't have. I also used the college and medical library at the hospital.

 

No home decorating/holiday expenses unless I already owned it, period. No new Christmas tree lights, no extra wrapping paper, no cute cupcake wrappers (cupcakes were made without paper liners).

 

Paper was cut up for scrap paper, and used/reused before being tossed. Grocery bags were used for garbage can liners. If the kids did an art project on one side of construction paper, it was saved so the other side could be used next time. Scraps of construction paper was saved for next time. I bought no extra supplies during this year, so what we had, had to last. If the kids glued wiggle eyes to a project, before it was tossed, the eyes were removed and put back into the art bucket.

 

Cleaning supplies were vinegar, bleach, soap and water. Pre-made cleaners, spray cleaners/Comet/Bar Keepers Friend were not purchased. They were a luxury.

 

We cancelled all pay for service except newspaper and dh's cell (we needed it for when he was on a construction site-side job pay paid for it, as this was the only reason we needed it.) When we went out of contract, we didn't go back under contract for new phones. We wanted to be able to stop the service when ever we wanted too. Satellite at $50/mth+ was traded for the newspaper $8/mth and free tv. This was offset by using the coupons available in it. It saved more money than it cost.

 

School supplies were reused from the previous year. I usually add new markers/crayons etc at the beginning of each year when they are cheap. No new supplies were added unless absolutely necessary. Old spirals were cleared of used pages, pronged notebooks were reused. I shopped the sale ads for any supplies that we had to have (ds was in public school so he needed some items for that).

 

We kept the house 2 degrees cooler in the winter and 2 warmer in the summer, than our preference. Appliances were unplugged when not in use. I ironed all at once to avoid the waste of heating/reheating daily. Every trickle of energy was managed and watched. I remember feeling guilty taking a really hot bath instead of a quick shower one day. LOL I remember feeling very, very guilty finding my curling iron got left on after I got home from work one afternoon. LOL

 

I saved glass jars and reused them for freezing food or pantry use. Very little got thrown away that year without being analyzed for other uses.

 

 

 

I could probably go on for a long time about the little details but I will stop here. I just wanted to give you some ideas about where to look for 'leaks' and to know that it can and will be done if you set your mind to it. The first 3 mths are the hardest. It is hard to break habits. Once the habits are broken, it gets easier and you can start to see the progress you are making. My mantra that year "I can do anything for one year!" I must have said it 1000 times that year! When we started, we thought it would take us 13mths exactly to get to where we wanted. With the side jobs, OT and finding even more ways to save money throughout the year, we paid it all off in 11mths, and took a vacation to Hawaii paid for with cash.

 

For us, having the pay off date was important. It helped us to do the extra work it required to pay a bit extra each month. One thing that it made very clear to us, was that extra money over the budget is worth so much more than we give it credit for. It taught us the value in a dollar. It was very, very worth it and I wish I had the perseverance to do it again right now. Maybe soon, just not now. At the end of the 11mths, we were 30yo a family of 4, and only had a mortgage left to pay. We had investments, money going toward retirement and a savings account. No car loans, no cc debt and a new appreciation for money. We definitely found the 'watch your pennies and the dollars will take care of themselves' to be true for us.

 

 

As a side note: the only thing we really, really hated that year- I had bought the kids clothes at K-mart and Wal-Mart type stores that year. In those years, there was a HUGE difference in the quality and texture (not so much any more). Dh and I both have sensory issues and at the end of the year, he said I was never 'allowed' to do that again. LOL He couldn't stand the feel of their clothing (and the stains that wouldn't come out) and wanted me to buy them better clothes again. That was the first luxury to come into our house again...quality clothes for the kids. LOL Funny how we figure out what is really important to us.

[MaryCatherine]

tap, tap, tap - thanks so much for typing all that out. It's worth several re-reads.

[Disney Dreaming]

I am not in a place to join you this time but I can share a story with you. 10years ago dh and I decided to get out of debt. We decided that no matter what, we would get ourselves out of debt in 1 year. We broke down our most basic expenses, and figured out that we could do it if we really, really skimped. We decided that we could do anything for one year. We only made 40,000 a year at the time, owned a home and had two kids. So, it wasn't like there was a lot to spare anyways. We had accrued a credit card debt of medical bills and since we lived in a small town, shopping was limited and more expensive than the city.

 

 

Some of our weaknesses/strategies:

We used to buy and sell a newish car every year and typically had 3 (sometimes 4 cars) at a time. We would buy a car that was under priced, drive it for a year and then resell it. We lived in Oregon and didn't have to pay sales tax on the purchase so we didn't loose money.....except paying insurance on the vehicles. We decided to sell all the cars we didn't need, kept two that were paid off and had cheap insurance. This saved us $100 a month in unnecessary insurance payments.

 

We sold everything we didn't need that year. We sold our camper and had several garage sales. The money went to a savings account to smooth the bumps for the year.

 

We did the debt snowball technique and worked hard to pay off all of our interest bearing debit. We sat down and mapped out exactly how long, and what the balances would be on each debt, month by month (including interest). This really helped to see where we were headed and to really see the interest. When we started paying off bills we were able to add some extra money here and there (I would work overtime/dh picked up side jobs with a contractor) we could see how far ahead we could get our selves with a little extra effort.

 

I only bought what was absolutely necessary. If I needed some ibuprofen, I bought the most economical Small bottle. Even if it would have saved us money in the long run to buy the biggest bottle, we bought small to protect the budget. Everything was bought this way (except non-perishable groceries). If we didn't HAVE to spend the money, we didn't. Not one dollar went out that was not analyzed as a need.

 

On the rare occasion that we ate out, it was at a fast food restaurant.

 

Birthdays and holidays were very budgeted for the kids, nothing for dh and I. Birthdays for the kids were decorated with handmade decorations/recycled decorations, had homemade cake, and punch. Very simple and cheap. Halloween costumes were hand made/pulled together from things we already had. These types of things were important. We get in such a pattern of luxury with our kids that is unnecessary. It is hard to cut back on them, but it is just one more 'hole in the budget'. We didn't budget more for holiday months (except Christmas), we either saved money from the month before, or only used the money we had available.

 

We stretched everything a little further. Clothes for the kids were not replaced because they got a smidge short in the legs or sleeves. They weren't in two-sizes-too-small clothes but I didn't buy two sets of clothes in one season just because they were starting to outgrow the first set. My kids only had enough clothes to last a week. No extras. One seasonal jacket, one pair of seasonal shoes etc (we live in the PNW with distinct seasons-the winter snow jacket isn't practical for late spring).

 

Dh and I didn't get clothes for a year. We just made do. We knew that it would result in us needing more clothes the following year, but we also knew that if we didn't stay on our strict budget, it would be tooo easy to start justifying other expenses as well.

 

Other things were stretched as far as we could go. Tires on the cars weren't change just because they looked low. (not to unsafe levels, but tread was measured and monitored). We didn't drive somewhere that we didn't have to. We lived 15 minutes by car, away from anything other that a small town grocery, so by watching fuel costs, it helped us to stay out of stores as well.

 

We saved scraps of food. We ate very healthy at this time as we were ahead of the organic/no hfcs/ww flour trend so groceries were Expensive without much competition in the market and a small town to boot. Stale bread or heals, were ground into bread crumbs. If I was making a fruit salad and wanted something like grapes, I would buy 8 grapes. Not a bunch of grapes that would go bad, only exactly enough for what was planned. Left over food was served with the next appropriate meal, and served up first. Not just left to go bad in the fridge. I saved everything I could. If making something a different way meant that I could save 10cents (like canned vs. frozen), I saved it. EVERY penny was watched.

 

Alcohol, pop or individual sized anything to drink, was huge luxury and treated as such. Snack for lunch boxes were bought in economy size and put in to baggies. Baggies were reused as possible. Foil was a commodity to not be wasted.

 

I bought no books and used the library. ILL was used for anything our library didn't have. I also used the college and medical library at the hospital.

 

No home decorating/holiday expenses unless I already owned it, period. No new Christmas tree lights, no extra wrapping paper, no cute cupcake wrappers (cupcakes were made without paper liners).

 

Paper was cut up for scrap paper, and used/reused before being tossed. Grocery bags were used for garbage can liners. If the kids did an art project on one side of construction paper, it was saved so the other side could be used next time. Scraps of construction paper was saved for next time. I bought no extra supplies during this year, so what we had, had to last. If the kids glued wiggle eyes to a project, before it was tossed, the eyes were removed and put back into the art bucket.

 

Cleaning supplies were vinegar, bleach, soap and water. Pre-made cleaners, spray cleaners/Comet/Bar Keepers Friend were not purchased. They were a luxury.

 

We cancelled all pay for service except newspaper and dh's cell (we needed it for when he was on a construction site-side job pay paid for it, as this was the only reason we needed it.) When we went out of contract, we didn't go back under contract for new phones. We wanted to be able to stop the service when ever we wanted too. Satellite at $50/mth+ was traded for the newspaper $8/mth and free tv. This was offset by using the coupons available in it. It saved more money than it cost.

 

School supplies were reused from the previous year. I usually add new markers/crayons etc at the beginning of each year when they are cheap. No new supplies were added unless absolutely necessary. Old spirals were cleared of used pages, pronged notebooks were reused. I shopped the sale ads for any supplies that we had to have (ds was in public school so he needed some items for that).

 

We kept the house 2 degrees cooler in the winter and 2 warmer in the summer, than our preference. Appliances were unplugged when not in use. I ironed all at once to avoid the waste of heating/reheating daily. Every trickle of energy was managed and watched. I remember feeling guilty taking a really hot bath instead of a quick shower one day. LOL I remember feeling very, very guilty finding my curling iron got left on after I got home from work one afternoon. LOL

 

I saved glass jars and reused them for freezing food or pantry use. Very little got thrown away that year without being analyzed for other uses.

 

 

 

I could probably go on for a long time about the little details but I will stop here. I just wanted to give you some ideas about where to look for 'leaks' and to know that it can and will be done if you set your mind to it. The first 3 mths are the hardest. It is hard to break habits. Once the habits are broken, it gets easier and you can start to see the progress you are making. My mantra that year "I can do anything for one year!" I must have said it 1000 times that year! When we started, we thought it would take us 13mths exactly to get to where we wanted. With the side jobs, OT and finding even more ways to save money throughout the year, we paid it all off in 11mths, and took a vacation to Hawaii paid for with cash.

 

For us, having the pay off date was important. It helped us to do the extra work it required to pay a bit extra each month. One thing that it made very clear to us, was that extra money over the budget is worth so much more than we give it credit for. It taught us the value in a dollar. It was very, very worth it and I wish I had the perseverance to do it again right now. Maybe soon, just not now. At the end of the 11mths, we were 30yo a family of 4, and only had a mortgage left to pay. We had investments, money going toward retirement and a savings account. No car loans, no cc debt and a new appreciation for money. We definitely found the 'watch your pennies and the dollars will take care of themselves' to be true for us.

 

 

As a side note: the only thing we really, really hated that year- I had bought the kids clothes at K-mart and Wal-Mart type stores that year. In those years, there was a HUGE difference in the quality and texture (not so much any more). Dh and I both have sensory issues and at the end of the year, he said I was never 'allowed' to do that again. LOL He couldn't stand the feel of their clothing (and the stains that wouldn't come out) and wanted me to buy them better clothes again. That was the first luxury to come into our house again...quality clothes for the kids. LOL Funny how we figure out what is really important to us.

 

WOW! My husband and I just bought Dave Ramsey's book and you give me hope this can be done. It must feel great being able to achieve this!

[....]

You don't have to wait for the book. But, the book is extremely motivating. Dave Ramsey has two websites www.daveramsey.com and www.mytotalmoneymakeover.com and they have a ton of info on them. He has a subscription for 10 bucks a month and you can use his budgeting software, debt reduction software, listen to his podcasts, use his goal trackers and there's forums. But, you can use his program without the subscription - just follow his 7 baby steps. He also has a store where he sells stuff from Financial Peace University (you can take a class too, BTW with a financial counselor).

 

Good luck, Everybody!! I love Dave! :coolgleamA:

[....]

WOW! My husband and I just bought Dave Ramsey's book and you give me hope this can be done. It must feel great being able to achieve this!

 

You absolutely CAN do it. We got through 8 months of unemployment because we are Money Gazelles - following Dave's money rules. Like I said, we're almost finished paying off about $80,000 in debt (for Baby Step 2) and we have several thousand dollars in our savings. We also have two paid-for cars (OK, one is a total piece of *&^%, but still!). :D No more "watching for the repo truck" :tongue_smilie:. Remember that commercial about ten years ago, where that woman was sitting on her couch, scared to answer her phone and she said something like, "No news is good news." :lol: That used to be us!! He he he ...:D

[Barb_]

I usually blow money on my kids. The thing is, it's never a lot in one place or on one child, but we have many so it tends to add up. I'll take my 16yo to Barnes and Noble and we'll drop by next door to Ulta and I'll treat her to an eyebrow wax. $20. Then I'll see a cute WordWorld megabloks set at Ross for the baby. $12. And maybe a couple of pairs of shorts for my son. He doesn't really need them but can always use them because he's hard on clothes and these are so *inexpensive*. $21. Heading to Barnes and Noble, I'll buy two of the girls each a paperback book. $14. It can really add up fast. I tell myself that I'm being frugal because I'm not spending much for each transaction, but once I get home and add it up, I can spend a lot more than I planned to. Sigh.

 

Barb

[Momma2Many66]

My weakness is curriculum. This board would be my downfall if I didn't have a homeschooling budget that I stick to every year.

 

And because I understand my weakness, I pad my budget with some extra money because I know I will read about some great curriculum that I just have to have for my children.

 

Right now it is the Right Start Abacus, guide and worksheets (will cost me $60) and the Right Start Card Games ($50 for set).

 

I wasn't even planning to buy these items, I was done shopping for the year. I purchased everything I need for the new school year for all 4 of my children. Then the other night I read about how Bill and some of the other posters in a few threads raved about these items and now I have to get them for my daughter, who I think would really benefit from "seeing" the math.

 

Yes, the only way I could joined your group is to stay off the boards and then I know that would never happen. ;) I do have my limits of sacrafices that I can make in my life !:lol:

 

Psst....We are Dave Ramsey fans too, that is where I learned to set up my "homeschool" budget and pad it for those times I may get carried away with curriculum lust !

Edited June 27, 2010 by Momma2Many66

[Osaubi]

I have been stressed out b/c of money. We have leaks in our budget. After reading what others have said I now have a plan.

 

For one year I pledge:

Never go into a store w/o a list

Make 1 month this year a no purchase month

make a rotating meal plan of 4 weeks

homemade cleaners only

make a balance sheet of debt and have a pay off debt

organize and use what we have first

[Renee in NC]

Renee...it might take some time BUT you can find excellent recipes online for meals that you like when eating out OR just make it up yourself!

For instance we don't go out to Olive Garden anymore (haven't for years) because I found and excellent alfredo, stuffed mushroom, mozzarella stick, spaghetti sauce/meatballs and various other things that they serve and fix them at home!

There are a few websites that offer "copycat" recipes for restaurant food.

I mimic sandwiches from Subway and Charley's (in our mall here) at home.

My family says that my stuff is better than the actual places :) Course they may just be saying it but :) that's OK!

 

Just a thought

 

It isn't restaurant food that we're missing. We aren't eating out at places like Olive Garden (I wish!) It's being away from home 2 meals a day one day because we had to be 2 hours south of home for a few hours. Three times.:glare:

 

Or when 12yo needed a meal between shows a few weeks ago and I took him to Subway for their $5 sandwich.

 

Or being gone ALL day at various things and getting home and not having anything to cook fast and ordering $27 worth of pizza.:glare:

 

This month was bad, but we spent NOTHING eating out last month. I just need to plan better. And get a cooler for the van.

 

For everything else, our life is like what Tap posted. Buy only what we have to have and then the cheapest option.

[Starr]

It isn't restaurant food that we're missing. We aren't eating out at places like Olive Garden (I wish!) It's being away from home 2 meals a day one day because we had to be 2 hours south of home for a few hours. Three times.:glare:

 

Or when 12yo needed a meal between shows a few weeks ago and I took him to Subway for their $5 sandwich.

 

Or being gone ALL day at various things and getting home and not having anything to cook fast and ordering $27 worth of pizza.:glare:

 

This month was bad, but we spent NOTHING eating out last month. I just need to plan better. And get a cooler for the van.

 

For everything else, our life is like what Tap posted. Buy only what we have to have and then the cheapest option.

 

I've gotten much better about packing a lunch if we are going away for a few hours or the day. If we head out to the city it is only one meal out that way. It sure made a difference once the kids started costing real money to eat out.

[Renee in NC]

I've gotten much better about packing a lunch if we are going away for a few hours or the day. If we head out to the city it is only one meal out that way. It sure made a difference once the kids started costing real money to eat out.

 

I think I need to sit down, map out the week, and plan ahead how I will feed everyone. For example, this week I have to go south again (without the dc) and won't be home until sometime between 5 and 6. I need to plan something easy/fast that night.

 

For the times we were gone for 2 meals, I should have packed food in a cooler for two meals. I need to make homemade pizza and wings every other week so dh isn't "craving" it.

[Truscifi]

We rarely eat out, but on those occasions when I forget or run out of time to pack a meal, or we're just out later than expected, we do fast food with a dollar menu, and we have a $2 per person limit. Generally speaking you can get enough to be satisfied from 2 dollar menu items, even if you're not stuffed. Also, for the more health conscious out there, Taco Bell's fresco menu is not too bad in terms of fat/calories. And it has lots of protein. And the fresco sauce doesn't give me heartburn like their regular sauce.

[skissugar]

for those who have posted about eating while out... what we do is i keep drinks and snacks in my van for the kids and myself.. i have it in a drawer system in my van between my front two seats but you could easily make it in smaller containers under seats.. 1 drawer holds snacks that I have purchased a large box of or bag of (ie pretzels) and divided it up into smaller cheap ziploc type bags.. 2nd drawer has drinks (ie water, capri suns etc).. i also keep a compartment that has bug spray, sunblock and my first aid kit.. Sometimes if i know i will be gone all day, i pack up fruit and such into a cooler and take that as well. This has cut out "we are out and hungry" costs. Hope this helps!

p.s. if you live in a warmer climate area you can just keep a cooler of drinks by the front door to remind you to toss ice in and take with you :)

[Cindy in the NH Woods]

I think I am gaining some insight here. I have FOUND the "Target".... and it is US! :001_huh: Whenever I enter that place, I am like a beetle going down into a spider's funnel web....