I decided since we didn't have any plans for the evening I would treat the girls.
So, I took Kaelin, Chelsi, Jaemin and Chase all for Christmas haircuts. This was Jaemin's first time letting someone other than mommy cut his hair and it looks really nice and he did SO good. Once they gave him that sucker he started smiling really big. Chelsi and Kaelin got a layer cut into their hair. After cuts we had to do our Christmas grocery shopping. I'm not sure we'll have enough time next week, so I tried to plan ahead. Brian had some aluminum money so he said we could pick up Chase's free Book-It pizza and get pizzas for the rest of us. YAY!
After supper I gave Chelsi, Kaelin and Jaemin a shower. Then the girls came back to my bathroom for their treat. I found my old Mary Kay pedicure stuff and gave them each a pedicure. I had them soak their feet in a nice warm sink of water. I went through all the steps and gave them calf and foot massages. Then, they each picked out a polish color for their nails. Kaelin picked out the clear sparkle (clear with glitter) and Chelsi picked out a coral sort of color for one foot and a pink/red color for the other. I found some cuticle oil too and massaged their cuticles and pushed them back. The girls just leaned back on my counter and relaxed. They LOVED the massages and kept telling me how good they felt.
See treats can be FREE!!
Showing posts with label Frugality for 7. Show all posts
Showing posts with label Frugality for 7. Show all posts
Friday, December 17, 2010
Sunday, October 31, 2010
Worn out shoes
Me selling shoes at a rummage sale or donating them to anyone is such a rarity. We cleaned the garages out where the kids keep their shoes that have started to wear and we had to toss a lot of them. And I mean A LOT. Most of them are getting tossed because they look like the ones below. Literally, they are missing parts of them. So, no....we do NOT waste our wears. We wear and wear and wear them some more.
Tuesday, July 20, 2010
That don't impress me much
Sorry, just wanted to quote Shania Twain. :)
http://financiallyfit.yahoo.com/finance/article-110102-5999-1-secrets-of-extreme-savers?ywaad=ad0035
This article is about some folks that were able and are able to save pretty well. But, what I mean by "that don't impress me much" is that if you read about them they have pretty high paying careers and/or few kids. The only thing that is impressive to me about this article is the fact that there still remain people in the US that value saving and don't live beyond their means or make a lot of money and spend every single dime and penny.
We would actually have a pretty good savings if we had stopped at our older two. We were talking about that the other day. What if we didn't have 13 years worth of daycare (sometimes x 2)? What if we didn't have 3 adoptions to pay for? Short answer we probably would have saved most of it. I'm a saver by nature and love to see it grown. Can we save anywhere what these people are saving? Ah, that's a big fat nada. The couple that has an income listed makes more than 3.5 more than we make between the two of us and then you add in that we're supporting 5 children, it's pretty easy to figure it out.
We still do well considering what we do make though. We put everything into our account to pay ahead of time. If there's a way to lower a bill I try to find it and we do it. We can't pay for our house outright...which would be nice. But, how many people on our income and family size have $150,000 in their pockets?
Back to looking back and if we had just stopped at the older two. I wouldn't, in a million, trillion years trade having the money these other families have and their vacations for my last 3 kids. No way, no how! They're so much better than money.
One of the 'savers' was quoted, and a paraphrase, 'I won't ever have to want for anything'. Well, the one thing we knew we could regret one day and never take or get back is having kids. So happy with that decision!
http://financiallyfit.yahoo.com/finance/article-110102-5999-1-secrets-of-extreme-savers?ywaad=ad0035
This article is about some folks that were able and are able to save pretty well. But, what I mean by "that don't impress me much" is that if you read about them they have pretty high paying careers and/or few kids. The only thing that is impressive to me about this article is the fact that there still remain people in the US that value saving and don't live beyond their means or make a lot of money and spend every single dime and penny.
We would actually have a pretty good savings if we had stopped at our older two. We were talking about that the other day. What if we didn't have 13 years worth of daycare (sometimes x 2)? What if we didn't have 3 adoptions to pay for? Short answer we probably would have saved most of it. I'm a saver by nature and love to see it grown. Can we save anywhere what these people are saving? Ah, that's a big fat nada. The couple that has an income listed makes more than 3.5 more than we make between the two of us and then you add in that we're supporting 5 children, it's pretty easy to figure it out.
We still do well considering what we do make though. We put everything into our account to pay ahead of time. If there's a way to lower a bill I try to find it and we do it. We can't pay for our house outright...which would be nice. But, how many people on our income and family size have $150,000 in their pockets?
Back to looking back and if we had just stopped at the older two. I wouldn't, in a million, trillion years trade having the money these other families have and their vacations for my last 3 kids. No way, no how! They're so much better than money.
One of the 'savers' was quoted, and a paraphrase, 'I won't ever have to want for anything'. Well, the one thing we knew we could regret one day and never take or get back is having kids. So happy with that decision!
Sunday, June 20, 2010
When the good things you teach them have consequences
Everyone knows we try hard to teach the kids about money. But, something need to be kept to themselves.
Today is Father's Day. Chase was so sweet and used his own money to buy his dad a duck statue to go in the recroom with his other hunting stuff...aka the duck he shot years ago. Anyways, I had taken Chase to the store awhile back when he apparently first saw it. Then, one day when he and Kaelin were with their grandma and going to town he asked if they were going to that store and told her he planned to buy this for Father's Day. He hid it and kept it to himself not revealing the surprise prior to today. I mean this thing is about 10" or so long and several inches high. He gave it to Brian this morning and I was telling Brian how proud I was of him for spending his own money on it and having the idea to buy this himself. The kids don't usually buy us stuff and we wouldn't expect them to. Kaelin quickly piped it 'it was 50% off!'. So takes the fun out of it. Had to give her another lesson in money in that while it is good to be frugal we don't have to share how inexpensive we got something when it was a gift!
As a side note I don't think Father's Day was too shabby for him. We don't do a lot of buying items for these days. We just don't have the money or justification for that type of expenditure. So, yesterday since he wanted to mow and work in the garden I cleaned the whole house. This morning the big boys got up before him and made waffles. And Chase made his usual card. He's GREAT about making us great cards to keep. Always creative! I'm telling you he's definitely one of the best dads in today's world.
Today is Father's Day. Chase was so sweet and used his own money to buy his dad a duck statue to go in the recroom with his other hunting stuff...aka the duck he shot years ago. Anyways, I had taken Chase to the store awhile back when he apparently first saw it. Then, one day when he and Kaelin were with their grandma and going to town he asked if they were going to that store and told her he planned to buy this for Father's Day. He hid it and kept it to himself not revealing the surprise prior to today. I mean this thing is about 10" or so long and several inches high. He gave it to Brian this morning and I was telling Brian how proud I was of him for spending his own money on it and having the idea to buy this himself. The kids don't usually buy us stuff and we wouldn't expect them to. Kaelin quickly piped it 'it was 50% off!'. So takes the fun out of it. Had to give her another lesson in money in that while it is good to be frugal we don't have to share how inexpensive we got something when it was a gift!
As a side note I don't think Father's Day was too shabby for him. We don't do a lot of buying items for these days. We just don't have the money or justification for that type of expenditure. So, yesterday since he wanted to mow and work in the garden I cleaned the whole house. This morning the big boys got up before him and made waffles. And Chase made his usual card. He's GREAT about making us great cards to keep. Always creative! I'm telling you he's definitely one of the best dads in today's world.
Saturday, May 22, 2010
Teaching Money to Children
So, a few months ago or so, I entered an essay contest to win cash. It was 5 essay questions on teaching responsibility with money to your children. I had read about the couple of past winners and they were all single moms, so while I thought we had no chance, I entered anyways. So glad we've been doing what we've been doing with our 5 kids!
Turns out we won! We won $1,000. In the essays you just had write (without going over the character limit) how you teach this to your children. Well, we all know where that money is going/went!
http://chaostimes5.blogspot.com/p/tickets-to-korea.html
Turns out we won! We won $1,000. In the essays you just had write (without going over the character limit) how you teach this to your children. Well, we all know where that money is going/went!
http://chaostimes5.blogspot.com/p/tickets-to-korea.html
Friday, April 30, 2010
Money thoughts...here you are....from some experts
Finally, an article about strategies we have lived by since I could spend my own money in my early teen years. I especially liked that they mentioned the focus on not forgetting about your annual bills and working them into your budget. So many people forget about these and then struggle to pay their taxes, insurance, Christmas, etc. We have always, since we got married, YEARS ago, transferred the money needed for these bills every month to a separate account. No struggles in that area here.
http://finance.yahoo.com/news/8-Questions-for-the-usnews-2193769886.html?x=0
8 Questions for the Constantly Broke
Kimberly Palmer, On Tuesday April 27, 2010, 11:38 am EDT
If you find yourself nervously checking your bank account balance before payday, then perhaps it's time to make some changes. Before swearing off restaurants or cutting up your credit card, ask yourself the following 8 questions, which are designed to help get you back on top of your finances.
Do I know where my money is going? Beyond a quick glance at our credit card statements each month, most of us don't bother tracking how we're spending money. That means we might not realize that our grocery expenses have suddenly skyrocketed, or our utility bills have doubled. Using an online personal financial management tool to automatically track your spending - www.Mint.com and www.Wesabe.com are among the most popular - allows you to figure out where money is going with minimal effort. The programs can also warn you once you get close to your target budget for the month.
Am I focusing too much on the month, instead of the year? Research suggests that people often fall victim to forgetfulness when budgeting by the month. They tend to overlook unexpected and one-time expenses, such as car repairs or gifts, so underestimate how much they'll need to spend. But when people budget by the year, they tend to factor in those costs. Research by University of Southern California's Gulden Ulkumen, Cornell's Manoj Thomas, and New York University's Vicki Morwitz found that college students were about 40 percent off-target when budgeting by the month, but only three percent off base when thinking by the year.
[See Benefits of Budgeting by the Year, Not the Month]
Do I do something everyday that wastes money? It might be a cab ride, lunches, or a six-pack of beer. These types of small, daily expenditures add up, and by the end of month, you could be out $100 or more. (In the case of a $10 lunch on each weekday, that's $200.) Finish Rich author David Bach famously coined the phrase "Latte Factor" to capture this idea. He argues that if you invested the money instead of spending it, you could eventually become a millionaire.
Do I know my own weakness? Almost everyone has one. It might be a golf habit, fancy jeans, or nice dinners. Perhaps it's simply buying more than you need when you're out running errands. Gwyneth Paltrow's budgeting expert for her GOOP newsletter, Lynnette Khalfani-Cox, offers the following advice: Carry a stopwatch with you on shopping trips. She also suggests bringing a loyal friend on shopping trips to remind you not to overspend.
Am I saving too much? This question might sound counter-intuitive - how could anyone be saving too much? But if you're going into debt to fund your lifestyle and you've already cut back wherever possible, then it's time to look at how much money you're funneling into your 401(k). While it always makes sense to take advantage of matching programs from your employer, it doesn't make sense to save additional pre-tax dollars at the expense of a hefty credit card bill that comes with a 10 percent or higher interest rate.
Is my relationship hurting my bank account? Even if you're on top of your own finances, your bank account won't reflect it unless your significant other is also on board. If you share credit, in the form of credit cards, auto loans, or a mortgage, then any late payment from your partner can also ding your own credit report. Marriage can intertwine your financial lives even further. Before tying the knot, be sure to review each other's credit histories, talk about whether you prefer joint or separate accounts, and make sure you are familiar with each other's long term financial goals. Couples also often get tripped up when it comes to handling money requests from needy family members. Make sure you're on the same page to prevent tension later.
[See 6 Money Talks to Have Before You Marry]
Are the big items dragging me down? According to Elisabeth Leamy, Good Morning America's consumer correspondent and author of Save Big: Cut Your Top 5 Costs and Save Thousands!, it's the big items, not the small ones, that hurt people's finances the most. She suggests focusing on minimizing your mortgage, car, health, debt, and grocery payments. Buying a used car instead of a new one, for example, can save drivers tens of thousands of dollars. Plus, she says, since "cars these days are really well built, the risk is lower than it used to be."
Am I wasting money by carrying debt? If you're paying down a $10,000 credit card bill with a 15 percent interest rate, then you're paying about $1,500 a year to carry that debt. If you're paying off a $10,000 car loan at 6 percent, then you're wasting $600 a year on interest. If you can find the extra cash, consider paying off those loans so you can stop throwing money away on debt payments.
http://finance.yahoo.com/news/8-Questions-for-the-usnews-2193769886.html?x=0
8 Questions for the Constantly Broke
Kimberly Palmer, On Tuesday April 27, 2010, 11:38 am EDT
If you find yourself nervously checking your bank account balance before payday, then perhaps it's time to make some changes. Before swearing off restaurants or cutting up your credit card, ask yourself the following 8 questions, which are designed to help get you back on top of your finances.
Do I know where my money is going? Beyond a quick glance at our credit card statements each month, most of us don't bother tracking how we're spending money. That means we might not realize that our grocery expenses have suddenly skyrocketed, or our utility bills have doubled. Using an online personal financial management tool to automatically track your spending - www.Mint.com and www.Wesabe.com are among the most popular - allows you to figure out where money is going with minimal effort. The programs can also warn you once you get close to your target budget for the month.
Am I focusing too much on the month, instead of the year? Research suggests that people often fall victim to forgetfulness when budgeting by the month. They tend to overlook unexpected and one-time expenses, such as car repairs or gifts, so underestimate how much they'll need to spend. But when people budget by the year, they tend to factor in those costs. Research by University of Southern California's Gulden Ulkumen, Cornell's Manoj Thomas, and New York University's Vicki Morwitz found that college students were about 40 percent off-target when budgeting by the month, but only three percent off base when thinking by the year.
[See Benefits of Budgeting by the Year, Not the Month]
Do I do something everyday that wastes money? It might be a cab ride, lunches, or a six-pack of beer. These types of small, daily expenditures add up, and by the end of month, you could be out $100 or more. (In the case of a $10 lunch on each weekday, that's $200.) Finish Rich author David Bach famously coined the phrase "Latte Factor" to capture this idea. He argues that if you invested the money instead of spending it, you could eventually become a millionaire.
Do I know my own weakness? Almost everyone has one. It might be a golf habit, fancy jeans, or nice dinners. Perhaps it's simply buying more than you need when you're out running errands. Gwyneth Paltrow's budgeting expert for her GOOP newsletter, Lynnette Khalfani-Cox, offers the following advice: Carry a stopwatch with you on shopping trips. She also suggests bringing a loyal friend on shopping trips to remind you not to overspend.
Am I saving too much? This question might sound counter-intuitive - how could anyone be saving too much? But if you're going into debt to fund your lifestyle and you've already cut back wherever possible, then it's time to look at how much money you're funneling into your 401(k). While it always makes sense to take advantage of matching programs from your employer, it doesn't make sense to save additional pre-tax dollars at the expense of a hefty credit card bill that comes with a 10 percent or higher interest rate.
Is my relationship hurting my bank account? Even if you're on top of your own finances, your bank account won't reflect it unless your significant other is also on board. If you share credit, in the form of credit cards, auto loans, or a mortgage, then any late payment from your partner can also ding your own credit report. Marriage can intertwine your financial lives even further. Before tying the knot, be sure to review each other's credit histories, talk about whether you prefer joint or separate accounts, and make sure you are familiar with each other's long term financial goals. Couples also often get tripped up when it comes to handling money requests from needy family members. Make sure you're on the same page to prevent tension later.
[See 6 Money Talks to Have Before You Marry]
Are the big items dragging me down? According to Elisabeth Leamy, Good Morning America's consumer correspondent and author of Save Big: Cut Your Top 5 Costs and Save Thousands!, it's the big items, not the small ones, that hurt people's finances the most. She suggests focusing on minimizing your mortgage, car, health, debt, and grocery payments. Buying a used car instead of a new one, for example, can save drivers tens of thousands of dollars. Plus, she says, since "cars these days are really well built, the risk is lower than it used to be."
Am I wasting money by carrying debt? If you're paying down a $10,000 credit card bill with a 15 percent interest rate, then you're paying about $1,500 a year to carry that debt. If you're paying off a $10,000 car loan at 6 percent, then you're wasting $600 a year on interest. If you can find the extra cash, consider paying off those loans so you can stop throwing money away on debt payments.
Monday, March 1, 2010
my last dollar
This is how I spend our money. My mom is well....tight. Yes, mom you have gotten better, but you're still pretty much a tightwad. Love you, but you know you are.
From this, though, I have learned to question every penny I spend. Literally, I analyze every penny by looking at bills, receipts, you name it. I think I 'need' a soda some days and realize I just 'want' one. Then, I think about the kidney infection I may get from it and can usually talk myself out of it. I can talk myself out of just about any purchase when I want to. I don't, very often, hear myself say "oh, it's just .35 cents" or "oh that's just a $1 more". That's not in my vocabulary. It's more like "if I don't spend that .50 cents then I'll for sure and easily have the $3 to pay for my water club every month". Yeah, our water at work tastes horrible and hauling in everyday would be heavy since we walk over 3 blocks carrying all of my other items with me daily. A funny story from the other day. I bought some things at Wal-Mart, on clearance for $3, regular priced at $4. They rang up for $4 and I told the cashier they were on sale for $3. She credited them through and put in $3.50. I told her they weren't $3.50, they were $3 and there were two more. She actually asked if it was okay if I just paid $3.50. :) I told her no...she needed to reduce the price of the other two to make up for the one. Of course, I care about .50 cents.
When I go to meetings at work and there are lunch breaks I get my leftovers out and heat them up while others go out. I don't want to eat another $8. That's how I feel. This has kept me well in-check on our budget. I can't even fathom credit card debt. All I envision is buying groceries and years later, after I've eaten all that food, still paying for it. How crazy is that?
Sometimes it's just a psychological game. You gotta play if you want to win.
Obviously all this 'work', kind of lightly used since I'm so used to it now it's second nature, has paid for 3 adoptions and everything else we've needed in our lives. Three adoptions paid off and in the clear. It works...just try it.
Psych yourself out and save!
Lisa
From this, though, I have learned to question every penny I spend. Literally, I analyze every penny by looking at bills, receipts, you name it. I think I 'need' a soda some days and realize I just 'want' one. Then, I think about the kidney infection I may get from it and can usually talk myself out of it. I can talk myself out of just about any purchase when I want to. I don't, very often, hear myself say "oh, it's just .35 cents" or "oh that's just a $1 more". That's not in my vocabulary. It's more like "if I don't spend that .50 cents then I'll for sure and easily have the $3 to pay for my water club every month". Yeah, our water at work tastes horrible and hauling in everyday would be heavy since we walk over 3 blocks carrying all of my other items with me daily. A funny story from the other day. I bought some things at Wal-Mart, on clearance for $3, regular priced at $4. They rang up for $4 and I told the cashier they were on sale for $3. She credited them through and put in $3.50. I told her they weren't $3.50, they were $3 and there were two more. She actually asked if it was okay if I just paid $3.50. :) I told her no...she needed to reduce the price of the other two to make up for the one. Of course, I care about .50 cents.
When I go to meetings at work and there are lunch breaks I get my leftovers out and heat them up while others go out. I don't want to eat another $8. That's how I feel. This has kept me well in-check on our budget. I can't even fathom credit card debt. All I envision is buying groceries and years later, after I've eaten all that food, still paying for it. How crazy is that?
Sometimes it's just a psychological game. You gotta play if you want to win.
Obviously all this 'work', kind of lightly used since I'm so used to it now it's second nature, has paid for 3 adoptions and everything else we've needed in our lives. Three adoptions paid off and in the clear. It works...just try it.
Psych yourself out and save!
Lisa
Saturday, February 27, 2010
Frugality for a family of 7
I have decided that since I live within the rules of frugality by necessity I would start tagging posts as this. This way if I come up with more ways to be frugal and on-budget, I can easily connect to it for readers.
As a family of 7 where both parents work fulltime, time is of constant limitation. I find myself forgetting small little details that I used to be able to easily remember. So, while we are frugal; our motto for the past couple of years has been to stay frugal and enjoy life within frugality, we have time to balance with saving money. This is us doing this and living this on a daily, hourly basis.
We survive on more than some, but less than most. Maybe not in this exact economy since we're fortunate to still have jobs, but before the crisis caused major job loss. We survive on well less than $100,000 and still enjoy some perks in life.
Clothes are HUGE expense for most families. If you have 5 growing kids, imagine the costs. Brian wears uniforms and he's not a clothes crazy man, so a few shirts and pants and he's good to go. The only thing he asks for is a new, name brand pair of shoes every year or two. I still wear clothes that is close to 10 years old. If' it's not torn or stained, why not? I wear a lot of khakis to work. I can spruce it up with inexpensive, dress shirts for work. I don't buy new shoes often at all. If I still like them, they stay. The kids get most of their clothes off the Kohls, Penneys, Target and Walmart clearance racks. I wait until there's a good discount to go with the department store purchases and can usually buy items for $5 or less. Children's Place outlets are great for little kids to buy cheap. We still rummage sale for the little ones too. Way to many name brand things we can get at these places hardly worn for a dollar or two.
I drive a 2010 minivan...top model. I wanted to enjoy things, so we bought this one with everything the kids and I could want. It is, afterall, the only vehicle we own that all 7 of us can fit in. Brian drives a 1993 station wagon. Serves it's purpose with great gas mileage. He also has a truck for hunting, etc. that 's almost 10 years old. It's very nice though. With him in construction we wouldn't want him driving anything too nice. One drive through the woods, mud, etc. would just tear them up anyways. They are all paid for. We saved trying to do this and intend to continue this.
Luckily, my husband does a lot of cooking. I usually do it on the weekends, but since he's home way earlier than me on weeknights he cooks those nights. You can save a ton by not buying processed, prepared foods. We don't buy canned goods. Though it's cheaper, fresh or frozen is better for you and that tops saving a buck. We eat a lot of venison. This saves a ton. We eat well, I have to say. We're probably not spending as little as we could, but eating healthy is important to us. We buy generic if we can and get the best buy on what we can.
We watch our bills closely. If we're not getting a discount a provider promised us than we stay with it until we do. Every dollar counts.
We have smaller packages when it comes to cable. We don't get any locals without it, so it's not necessarily an necessity, but just to watch the news here, we need it. We have the slowest internet, but we do have it. We have the least expensive package with our phone too. If you call them you can usually get them to find you a better deal for a limited time. Then, when that limited time is up you call again. It's worth $10/month to me.
Save for everything. Do not buy it unless you have the money. We even save for those non-monthly bills such as insurance, tracfone, Christmas, taxes, etc. We have a totally separate account just for these bills and we have the money transferred automatically each month. Then, when the bills come due the money is always there. If a bill goes up the interest will usually cover it and we just call the bank to up how much we save every month for the next bill. We've lived by this for many years and it saves a lot.
We don't buy little things. We give ourselves an allowance every month. With this cash, it's all you get to spend on collections at work, dinners out, sodas, coffee, snacks, etc. This really keeps me from going to vending machines, etc. We usually take turns with our cash grabbing things off a dollar menu to bring home to eat every once in awhile. So while we don't get to go "out" to eat, we don't necessarily have to cook on these few nights either. It's a whole lot cheaper and we just turn it into a carpet picnic with the kids and a movie. And what I mean by don't buy little things is literally, when you go to Walmart or wherever for groceries; think before you buy. Really ask yourself, "do I need this?" I can usually answer no on that trip and if I REALLY want it I can get it another time when I'm sure how bad I want it.
I'd say shop around, but for some families, that's just not possible. For major purchases yes. First, have the money to pay for it, then call around to stores that carry what you want as well as checking the internet. Shop around. Groceries is something we don't have the luxury of that. With 5 kids, we do good to remember we need to grocery shop. We usually do not buy anything at Walmart, weekly, besides groceries though. The toiletries and other things we want from Walmart goes on a 'monthly list'. This makes me think as I buy those items as to whether we really want or need them by the time I go as well as making tracking our expenses easier.
Keep track of what you spend. We do not have debit or ATM cards. I don't like those. It's WAY too easy to spend and lose track. We write very few checks since we only write them if we have to. We have most bills come directly out of our account. We do put most purchases on our credit card. This way we know exactly where the money went, can pay it off monthly and get rewards in cash for doing so. Well worth it.
Don't have too many cards. Keep it to the basics. We have two credits cards. We have one that we use for pretty much everything and another to use at places that don't take the first. I do have a Kohls card too. Only to get those 30% discounts. Otherwise, I rarely even use it or buy there.
Dental insurance is somewhere we save too. Our dental insurance would cost more to pay for insurance monthly for our family compared to just paying for our fees out-of-pocket. My dental offered is not that great, so it's a wise decision for us. You have to compare things.
Keep your life simple. The more simple it is the more affordable. I'm trying to slowly pass these strategies onto my children. Not because I don't think they'll make more than us, but because I want them to spend what money they do have wisely. Why waste? That's pretty much our beliefs....don't waste.
I'll share more as I think of them.
As a family of 7 where both parents work fulltime, time is of constant limitation. I find myself forgetting small little details that I used to be able to easily remember. So, while we are frugal; our motto for the past couple of years has been to stay frugal and enjoy life within frugality, we have time to balance with saving money. This is us doing this and living this on a daily, hourly basis.
We survive on more than some, but less than most. Maybe not in this exact economy since we're fortunate to still have jobs, but before the crisis caused major job loss. We survive on well less than $100,000 and still enjoy some perks in life.
Clothes are HUGE expense for most families. If you have 5 growing kids, imagine the costs. Brian wears uniforms and he's not a clothes crazy man, so a few shirts and pants and he's good to go. The only thing he asks for is a new, name brand pair of shoes every year or two. I still wear clothes that is close to 10 years old. If' it's not torn or stained, why not? I wear a lot of khakis to work. I can spruce it up with inexpensive, dress shirts for work. I don't buy new shoes often at all. If I still like them, they stay. The kids get most of their clothes off the Kohls, Penneys, Target and Walmart clearance racks. I wait until there's a good discount to go with the department store purchases and can usually buy items for $5 or less. Children's Place outlets are great for little kids to buy cheap. We still rummage sale for the little ones too. Way to many name brand things we can get at these places hardly worn for a dollar or two.
I drive a 2010 minivan...top model. I wanted to enjoy things, so we bought this one with everything the kids and I could want. It is, afterall, the only vehicle we own that all 7 of us can fit in. Brian drives a 1993 station wagon. Serves it's purpose with great gas mileage. He also has a truck for hunting, etc. that 's almost 10 years old. It's very nice though. With him in construction we wouldn't want him driving anything too nice. One drive through the woods, mud, etc. would just tear them up anyways. They are all paid for. We saved trying to do this and intend to continue this.
Luckily, my husband does a lot of cooking. I usually do it on the weekends, but since he's home way earlier than me on weeknights he cooks those nights. You can save a ton by not buying processed, prepared foods. We don't buy canned goods. Though it's cheaper, fresh or frozen is better for you and that tops saving a buck. We eat a lot of venison. This saves a ton. We eat well, I have to say. We're probably not spending as little as we could, but eating healthy is important to us. We buy generic if we can and get the best buy on what we can.
We watch our bills closely. If we're not getting a discount a provider promised us than we stay with it until we do. Every dollar counts.
We have smaller packages when it comes to cable. We don't get any locals without it, so it's not necessarily an necessity, but just to watch the news here, we need it. We have the slowest internet, but we do have it. We have the least expensive package with our phone too. If you call them you can usually get them to find you a better deal for a limited time. Then, when that limited time is up you call again. It's worth $10/month to me.
Save for everything. Do not buy it unless you have the money. We even save for those non-monthly bills such as insurance, tracfone, Christmas, taxes, etc. We have a totally separate account just for these bills and we have the money transferred automatically each month. Then, when the bills come due the money is always there. If a bill goes up the interest will usually cover it and we just call the bank to up how much we save every month for the next bill. We've lived by this for many years and it saves a lot.
We don't buy little things. We give ourselves an allowance every month. With this cash, it's all you get to spend on collections at work, dinners out, sodas, coffee, snacks, etc. This really keeps me from going to vending machines, etc. We usually take turns with our cash grabbing things off a dollar menu to bring home to eat every once in awhile. So while we don't get to go "out" to eat, we don't necessarily have to cook on these few nights either. It's a whole lot cheaper and we just turn it into a carpet picnic with the kids and a movie. And what I mean by don't buy little things is literally, when you go to Walmart or wherever for groceries; think before you buy. Really ask yourself, "do I need this?" I can usually answer no on that trip and if I REALLY want it I can get it another time when I'm sure how bad I want it.
I'd say shop around, but for some families, that's just not possible. For major purchases yes. First, have the money to pay for it, then call around to stores that carry what you want as well as checking the internet. Shop around. Groceries is something we don't have the luxury of that. With 5 kids, we do good to remember we need to grocery shop. We usually do not buy anything at Walmart, weekly, besides groceries though. The toiletries and other things we want from Walmart goes on a 'monthly list'. This makes me think as I buy those items as to whether we really want or need them by the time I go as well as making tracking our expenses easier.
Keep track of what you spend. We do not have debit or ATM cards. I don't like those. It's WAY too easy to spend and lose track. We write very few checks since we only write them if we have to. We have most bills come directly out of our account. We do put most purchases on our credit card. This way we know exactly where the money went, can pay it off monthly and get rewards in cash for doing so. Well worth it.
Don't have too many cards. Keep it to the basics. We have two credits cards. We have one that we use for pretty much everything and another to use at places that don't take the first. I do have a Kohls card too. Only to get those 30% discounts. Otherwise, I rarely even use it or buy there.
Dental insurance is somewhere we save too. Our dental insurance would cost more to pay for insurance monthly for our family compared to just paying for our fees out-of-pocket. My dental offered is not that great, so it's a wise decision for us. You have to compare things.
Keep your life simple. The more simple it is the more affordable. I'm trying to slowly pass these strategies onto my children. Not because I don't think they'll make more than us, but because I want them to spend what money they do have wisely. Why waste? That's pretty much our beliefs....don't waste.
I'll share more as I think of them.
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