Lux Et Veritas Academy Posted October 1, 2008 Share Posted October 1, 2008 Is everyone thinking budgeting this week? What are you doing to make changes?:confused: Quote Link to comment Share on other sites More sharing options...
Renee in NC Posted October 1, 2008 Share Posted October 1, 2008 Is everyone thinking budgeting this week? What are you doing to make changes?:confused: Not really because of this week, but we have done the following in response to the overall downturn we have been experiencing: *We cut worker hours to 32. *We incorporated and set a salary for ourselves at $1700.00 per month (absolute minimum we can live on right now.) *We moved to save fuel costs and housing costs *We accepted a minivan from a family member and we are selling our 12 passenger van (we can't all fit in the mini, but we will have to make do.) All the other things that people do to "be frugal" we were already doing. Quote Link to comment Share on other sites More sharing options...
bumbledeb Posted October 1, 2008 Share Posted October 1, 2008 We had already cut back a lot, especially on grocery shopping. I don't know how much further we can go to limit our spending. We are all wrapped up in several jerseys/cardigans and blankets today so as to avoid putting on the heating. Next to go, if necessary would be Sky TV, internet, guitar lessons, gymnastic lessons and badminton. Would save on petrol that way too. Quote Link to comment Share on other sites More sharing options...
cathmom Posted October 1, 2008 Share Posted October 1, 2008 I am being careful with every dollar. Which I should have been doing all along. Quote Link to comment Share on other sites More sharing options...
beansprouts Posted October 1, 2008 Share Posted October 1, 2008 There won't be any new changes for us, yet. We have over the past year been working hard to pay down debt. Our only loans are a mortgage and a home equity loan. We can pay both off within ten years. Our income is sufficient at this point to support us plus pay for a few extras. If this changes, we can adjust our spending very quickly. Quote Link to comment Share on other sites More sharing options...
laylamcb Posted October 1, 2008 Share Posted October 1, 2008 We are slowly weaning ourselves off of credit cards. Though we have no credit card debt--we pay it off each month--I was convicted by a recent study I read about how much more (and how differently) we spend when we charge than when we pay with cash. I *know* that this is true, but the specifics in this article really interested me and convicted me. So our goal is to put only major purchases and gas (just because it's a hassle to go in to pay and you're actually more likely to buy something in the convenience store) on credit. No more groceries, toiletries, clothing, meals out, etc. I'm hoping that this will reduce our monthly credit card bill by 30%. Quote Link to comment Share on other sites More sharing options...
Tess in the Burbs Posted October 1, 2008 Share Posted October 1, 2008 well the rising food and gas costs this summer made an impact on our budget. this week hasn't changed anything. we just have way less in our future retirement accounts. For now we don't overspend. Meaning don't let dh go shopping! we are eating more soup/stew meals now that it's cooler which should be cheaper. we only have two activities a week and I don't go run errands unless I have a bunch in the same area or they are near the activity location. we haven't been driving to meet up with people as much. which means they are watching tv some. so our changes aren't major...something we already started when everything else started costing too much. Quote Link to comment Share on other sites More sharing options...
Pongo Posted October 1, 2008 Share Posted October 1, 2008 Is everyone thinking budgeting this week? What are you doing to make changes?:confused: I ordered from Angel Food this month. I ordered 2 units and a special #5, if this works I will save 1/2 on this months grocery bill:) Quote Link to comment Share on other sites More sharing options...
Riverfront Headmistress Posted October 1, 2008 Share Posted October 1, 2008 I haven't bought anything made in China this week! Quote Link to comment Share on other sites More sharing options...
elegantlion Posted October 1, 2008 Share Posted October 1, 2008 We are working to set aside more cash. We've had to up our grocery bill last week. We are thinking more about where each dollar goes, like we weren't already. Quote Link to comment Share on other sites More sharing options...
chiguirre Posted October 1, 2008 Share Posted October 1, 2008 We'll gradually increase the percentage of our portfolio invested in European and Asian indices. We may look into increasing the percentage invested in REITs, too. I'm a coupon clipper and bargain hunter by nature, so our household budgeting won't really change. Quote Link to comment Share on other sites More sharing options...
Rosy Posted October 1, 2008 Share Posted October 1, 2008 DH is taking extra freelance work so we can get some bills paid off. We'd already been talking about that, but now even more so. And we're nervously getting ready to put our house on the market, and hoping that if anything changes with DH's employment situation, it will happen before we buy a new house. We don't expect it to, but we're still a little nervous. We tend to live pretty frugally, and we haven't felt the effect of this crisis yet, but I think we both know that we could and are trying to be careful. Quote Link to comment Share on other sites More sharing options...
TraceyS/FL Posted October 1, 2008 Share Posted October 1, 2008 This week isn't changing much - other than our garden is going in! We are already doing about all we can.... And gee, HEAT? My AC quit working today and it's 89 out (and in). TG it's OCtober 1st and not June 1st thought right??? Quote Link to comment Share on other sites More sharing options...
Once Posted October 1, 2008 Share Posted October 1, 2008 We are finishing our debt repayment plan a little faster than we originally planned. December is our next goal and we are well on our way. I am now on a tighter budget with no lea way, whereas before I had the freedom to borrow from our general account to make it through to the end of the month. We have an international student that gives us a regular amount of money for staying here and eating with us (although he often chooses not to). So my new food budget is $600 for six people...one rarely here and the other a three year old. No exceptions. (I'm the hard nose not dh....he is so laid back it is funny.) I'm planning on potty training ds who is three so I can save a little on diapers and wipes. :ack2: We are eating up *all* our leftovers now. I'm finding that when the fridge is full I lose things in the back and it goes to waste. The less there is the less we waste. I think that is a profound truth that has international implications. I have said we are not going out for dinner anymore but truthfully we will eat out three times this week...once was a $6 pizza after soccer, once will be church supper out and one is a date lunch with dh that we planned two weeks ago.;) I did more canning and jamming this year than ever before and actually picked up free veggies that were offered at our Kindermusic class....previously I would have left them for others more in need. Oh, we are not changing our investments right now. If it's there it rides out the storm. Wish us luck! We are in a good place. Tight enough to feel like we are being responsible but not so tight that we do not have options. I sure am looking forward to when we find out how this all plays out. It's like a cancer test....the worst part is not knowing. BTW, I love posts like this. I am alway looking for ways to make less stretch and see others are doing it too. Thanks! Quote Link to comment Share on other sites More sharing options...
Kelli in TN Posted October 1, 2008 Share Posted October 1, 2008 Hmmm....I think we will keep on doing what we are doing now; rationing milk down to the ounce, letting the dishes pile up in the sink because we can't find enough change in the sofa cushions for a bottle of dish soap, crawling through the financial desert towards that wonderful oasis known as payday (2 more days, kiddos, just 2 more days).....and being grateful beyond words that there is milk to ration and that the dishes are piling up in the sink because we have food for our children and that we have a sink to pile them since we have a roof over our heads..... I don't feel the pinch anymore today than I did yesterday or last week. There is nothing we can change, we just live day to day, paycheck to paycheck and trust in the One in Whom we have put our lives. Quote Link to comment Share on other sites More sharing options...
Jane in NC Posted October 1, 2008 Share Posted October 1, 2008 I actually went out and spent some money this week to help the local economy! Being parsimonious (okay, cheap) by nature, I figured the time was right to buy a piece of South Carolina furniture from a local shop. They cut us a great deal! I also replaced my aged and dying sewing machine with a new Husqvana Viking model--not a fancy schmantzy but a jewel to me! I figure if the economy goes belly up, I need a working sewing machine to repair and reuse what we have. And yes I paid cash (well check)--did not use a credit card. Jane Quote Link to comment Share on other sites More sharing options...
cathmom Posted October 1, 2008 Share Posted October 1, 2008 Kelli, you are living my life! I cannot wait for Friday - payday! Quote Link to comment Share on other sites More sharing options...
Kelli in TN Posted October 1, 2008 Share Posted October 1, 2008 Kelli, you are living my life! I cannot wait for Friday - payday! Every two weeks! Every other Friday! It's the most wonderful feeling to check the bank account and there it is! Let's go to Kroger!!!! Quote Link to comment Share on other sites More sharing options...
Quiver0f10 Posted October 1, 2008 Share Posted October 1, 2008 Hmmm....I think we will keep on doing what we are doing now; rationing milk down to the ounce, letting the dishes pile up in the sink because we can't find enough change in the sofa cushions for a bottle of dish soap, crawling through the financial desert towards that wonderful oasis known as payday (2 more days, kiddos, just 2 more days).....and being grateful beyond words that there is milk to ration and that the dishes are piling up in the sink because we have food for our children and that we have a sink to pile them since we have a roof over our heads..... I don't feel the pinch anymore today than I did yesterday or last week. There is nothing we can change, we just live day to day, paycheck to paycheck and trust in the One in Whom we have put our lives. THis is us too! Tomorrow is the day! :lol: Quote Link to comment Share on other sites More sharing options...
Miss Peregrine Posted October 1, 2008 Share Posted October 1, 2008 Every two weeks! Every other Friday! It's the most wonderful feeling to check the bank account and there it is! Let's go to Kroger!!!! DH gets paid once a month. The end of the month is always scary, LOL Quote Link to comment Share on other sites More sharing options...
Prairie~Phlox Posted October 1, 2008 Share Posted October 1, 2008 We're not really doing anything differently, but we are being wise in our purchases. Our dishwasher is about 20 years old and the door cable keeps breaking (we've replaced it three times) and it currently is just heavy and no one lets it go when they open it. Well, someone had a free Kitchen Aid Dishwasher on Craiglist. Dh said to get it, said 10 years old is newer than 20. So hopefully it works well, we need to install it. It's nothing to ride home about, but will hopefully get us buy until we want to spend money on a nicer one. I picked it up the other night and it's in our garage. We have no credit debt right now and so I'm feeling pretty good where we're at. Phlox Quote Link to comment Share on other sites More sharing options...
Lawana Posted October 1, 2008 Share Posted October 1, 2008 We are trying to put more away each month. Dh felt compelled to pay off the mortgage a few years early which we did by taking out a 401k loan, and that's been paid off for a year now. No other debts or loans. I'd been hoping for a newer van because mine has 176,000 miles on it, but we want to pay cash of which we don't yet have enough saved. We do use credit cards for most of our purchases and then pay off each month. Based on what Leila said about credit card spending habits, I'm wondering if we could save money by paying cash for most things. Dc have been put on notice that if things get bad, dance, karate, piano and baseball would have to be reconsidered. Lawana Quote Link to comment Share on other sites More sharing options...
RoughCollie Posted October 1, 2008 Share Posted October 1, 2008 (edited) I have cut our grocery budget. I usually spend about $350 a week and no, we don't eat steak. I arbitrarily cut it to $200 a week for 6 people. I am making our bread and cooking and baking everything from scratch in order to make this work. I am planning to stock up on things that are on sale, too, and I hope I still can with this low of a budget. I told DH he has to quit smoking by the time his 1/2 carton of cigarettes is gone because a carton a week costs $3300 a year. Also, since our cell phones have free long distance on weekends and after 9 pm, I canceled the long distance on our land line phone. We have the land line still only because of DSL. Two of my kids are getting cell phones for Christmas (they need them) so we are going to cancel DH's car phone (he has that in addition to a cell) to offset some of the additional cost of our cell phone bill. My budget cuts are not due to what has happened in the past week. Our income has dropped substantially over the past few years, and the cost of food, gas and heating oil has risen substantially. RC Edited October 1, 2008 by RoughCollie Quote Link to comment Share on other sites More sharing options...
KrissiK Posted October 1, 2008 Share Posted October 1, 2008 We're already the biggest tightwads I know, so we're not doing anything out of the ordinary. Quote Link to comment Share on other sites More sharing options...
joannqn Posted October 1, 2008 Share Posted October 1, 2008 I just discovered that my husband's signing bonus is exhausted which means we'll see a significant drop in income...as much as $800 per month drop. This month we're down $300 from what we're used to. I need to find time to look at our bills and see if we have enough money to pay them. From there, I'll decide what we need to do. It's going to be tough. There isn't much to cut. Oh and our heating bill is on the rise. It goes from $40 a month during the summer up to over $200 a month in the winter and there's nothing we can do about it without very expensive remodeling. We have 11 eighty-eight year old, single-pane windows on the first floor and no insulation. We can't afford to upgrade. With the heat off, it gets almost as cold as outside. We lost heat for a couple of days at the end of last winter and it dropped down to 50 degrees indoors during the day. I ended up taking the kids somewhere just to get warm. Quote Link to comment Share on other sites More sharing options...
melissel Posted October 1, 2008 Share Posted October 1, 2008 I am being careful with every dollar. Which I should have been doing all along. *sigh* Here too. With the exception of a big rummage sale I'm going to this weekend (we're cutting off TV here, and I want to have some interesting doodads in reserve for when I get weak and cranky), I've cut back on all expenditures. No more eating out unless it's an emergency (like we're out running errands and everyone is starving, and we got caught without snacks), no more "Just this once" Starbucks or Dunkin' Donuts, etc. We're canceling cable and I'm debating cutting off the phone as well, but it might cost the same to up our cell plan as it does to keep our cable phone service--I have to do more research. I've been telling the kids no about little things (bottle of water, popcorn at Target) much more than I used to. I started couponing again to the degree that I can, since we don't use a lot of processed food. I'm debating canceling Netflix in favor of the library videos (but they don't have much, and most of the libraries in the system don't lend videos). I'm pretty much just considering every single purchase and usage instance (Do I really NEED to turn this light on to cross the room and grab my jacket? Why...OH WHY...is my DH's computer always left on???). It's scary all around. Quote Link to comment Share on other sites More sharing options...
Amy loves Bud Posted October 1, 2008 Share Posted October 1, 2008 I also replaced my aged and dying sewing machine with a new Husqvana Viking model--not a fancy schmantzy but a jewel to me! I figure if the economy goes belly up, I need a working sewing machine to repair and reuse what we have. Just the excuse I need! Thank you! Quote Link to comment Share on other sites More sharing options...
mcconnellboys Posted October 1, 2008 Share Posted October 1, 2008 I've been watching all this sort of stuff coming for a while now. I started living within a weekly budget back in January (or trying to, at least, LOL). I stocked my pantry and freezers in May and this has allowed me to just shop for deals or shop sales mostly since then. I'm mad, mad at my husband. I told him to move my older son's investment money for college into a CD two years ago. I've been telling him periodically since then. I told him dozens of times in the past six months. Did he do it? No. Lost 10k in one day. I finally joined my local health foods coop in order to receive more deals and kickbacks from them. I'm trying to consolidate driving even more than before. I've cut back on out of town field trips. I've cut back even on the number of things I schedule in town, so that we don't run all around town as much, but tend to stay in our own little quadrant of town more. We're eating out less and less, which also saves on the gas for driving there and back. I'm actually trying to sell some of my books that my younger son has begun to outgrow, instead of just giving them away like I used to. I started doing this last school year. My older son wears adult size clothes now and I actually took some of his pants he's outgrown to a local used clothing store and sold some of those instead of just dropping them all off at Goodwill, as usual. These things have yielded small amounts of money, but still provide extra spending money for us during the course of a week. We have participated some this year in community gardening in our area, as well as growing a few things in our backyard flower beds, like tomotoes and herbs (which I've grown for years; but never really dried for usage before as I have this year). Quote Link to comment Share on other sites More sharing options...
Kris Posted October 1, 2008 Share Posted October 1, 2008 Actually, now that the summer weather is mostly passed, we will be in better shape for a little while, since the electric bill will go down. Then, I remember I still need to figure out how to fill the propane tank and that Happy Dance is over. :lol: I'm sure I could find more things to cut. There are always things that can be cut. It's just a matter of figuring out the difference between what we want and what we need. We don't need to do Taekwondo, so that will probably be next, if it comes to that. Quote Link to comment Share on other sites More sharing options...
Jane in NC Posted October 1, 2008 Share Posted October 1, 2008 Just the excuse I need! Thank you! A few days ago, my husband and son were discussing how the failing economy could impact our lives, from mild effects to worst case scenarios. As my son was digesting this, he asked his Dad, "Should Mom be adding to her fabric stash?" :lol: :lol: :lol: Dh said not to encourage me, but all I could think was that some day, some lucky girl is going to thank me for training my son properly! Jane Quote Link to comment Share on other sites More sharing options...
Parrothead Posted October 1, 2008 Share Posted October 1, 2008 I've decided I'm doing 98% of my grocery shopping at Sam's. I've got one more big trip down there and I'll be entirely stocked up on everything we need. Then after that I can go replenish for $100.00 less than the grocery store each time. That will save us about $200.00 a month. I called the debt management company we used a few years ago when we had our previous unpaid move. They can reduce our monthly payments by about $400.00 and pay everything off within 18 month; instead of three years. Then we will debt free except for the truck and the mortgage. If we get a miracle and sell that house in Montana we will only have the truck payment. I'll then be able to pay off the truck quickly. Quote Link to comment Share on other sites More sharing options...
cathmom Posted October 2, 2008 Share Posted October 2, 2008 Every two weeks! Every other Friday! It's the most wonderful feeling to check the bank account and there it is! Let's go to Kroger!!!! And 3 checks in October!!! (for us anyway) Quote Link to comment Share on other sites More sharing options...
Melissa in FL Posted October 2, 2008 Share Posted October 2, 2008 Oh and our heating bill is on the rise. It goes from $40 a month during the summer up to over $200 a month in the winter and there's nothing we can do about it without very expensive remodeling. We have 11 eighty-eight year old, single-pane windows on the first floor and no insulation. We can't afford to upgrade. With the heat off, it gets almost as cold as outside. We lost heat for a couple of days at the end of last winter and it dropped down to 50 degrees indoors during the day. I ended up taking the kids somewhere just to get warm. Have you tried putting plastic up on the windows? When we lived in MI I put plastic on the inside of the windows every late fall, it really helped keep our front rooms warmer. Dh's grandfather used to put plastic up both outside over the windows and inside over the same windows and he felt it kept the wind out more. HTH Melissa Quote Link to comment Share on other sites More sharing options...
beansprouts Posted October 2, 2008 Share Posted October 2, 2008 duplicate post Quote Link to comment Share on other sites More sharing options...
beansprouts Posted October 2, 2008 Share Posted October 2, 2008 I've decided I'm doing 98% of my grocery shopping at Sam's. I've got one more big trip down there and I'll be entirely stocked up on everything we need. Then after that I can go replenish for $100.00 less than the grocery store each time. That will save us about $200.00 a month. I started doing that when the grocery prices began to rise. It means spending more at once. I spend about $300 once a month because I buy larger quantities, but the unit pricing is so much better than the supermarket. Quote Link to comment Share on other sites More sharing options...
beansprouts Posted October 2, 2008 Share Posted October 2, 2008 A few days ago, my husband and son were discussing how the failing economy could impact our lives, from mild effects to worst case scenarios. As my son was digesting this, he asked his Dad, "Should Mom be adding to her fabric stash?" :lol: :lol: :lol: Dh said not to encourage me, but all I could think was that some day, some lucky girl is going to thank me for training my son properly! Jane She certainly will, Jane!! :lol: (Cindy, who has a weakness for pretty fabric...) Quote Link to comment Share on other sites More sharing options...
Parrothead Posted October 2, 2008 Share Posted October 2, 2008 I started doing that when the grocery prices began to rise. It means spending more at once. I spend about $300 once a month because I buy larger quantities, but the unit pricing is so much better than the supermarket. We were going periodically after last Christmas when we had a bit of extra money. In May we quit going because dance was over for the year. It takes us almost 2 hours to get to Sams so we only go when dd has dance which is a little over an hour away. I realized during the summer that it was a mistake to not go during the summer. What I'm hoping for now is by the end of dance I'll be so well stocked that we won't need to grocery shop next summer. Quote Link to comment Share on other sites More sharing options...
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