So, have ya heard the economy is bad?
Seriously, I wanted to encourage everyone to just take a deep breath. There are ways to survive this. This too shall pass. I have a few tips for saving a few bucks and cutting corners, but first let me share the following stories.
Back in 1997, I was one year out of college living with my husband in a cabin within the hills of West Virginia. I got a very bad kidney infection. Together he and I made about $26,000 a year. We had $5 in our checking account. I couldn’t keep food down. The doc suggested Jello. Hubby took the $5 out of the bank and went to the grocery and bought me $5 worth of Jello. Couldn’t keep that down either. I kept the unopened boxes of Jello for three years after that. I just couldn’t get rid of them because I knew what paid for them.
We eventually moved and got better jobs, etc. Worked our way out of that situation until …
We moved down here in 2004. Hubby took a job that allowed me to stay home full time. Circumstances caused him to lose that job in 2006—the day before our second child was born. Here we were, two jobless parents with two kids.
Needless to say, our spending habits had to change overnight! Trust me, I know it is hard. But one must evaluate their situation and change their mental mindset to accept the situation. These tips aren’t just for those who are now on limited incomes, but also good ideas for everyone to incorporate.
Here are a few things we do. My family didn’t have a lot of money when I was growing up so a few of these are just going back to my roots!
1. Borrow DVDs from the library instead of renting them.
2. Reduce restaurant visits to one to two times a month and choose places where kids eat free with reasonable prices.
3. Examine cell phone, telephone, cable, and internet plans. Combine or change to save more money per month.
4. Examine home, car, and health insurance plans to see how we can save.
5. Make our coffee at home and splurge on $1.50 flavored creamer instead of getting Starbucks.
6. Only buy beer on special occasions or after a very stressful week. But only a small pack.
7. Only buy what is on the grocery list and nothing else!
8. Fix things. A shoe sole is coming undone—fix it instead of throwing out and buying new.
9. Stop buying things for the kids that they don’t really need. Yes, it is cute and would be nice, but take a hard look. What do they actually need? Only one pair of tennis shoes is enough. One pair of sandals is enough. It is okay to tell your kids no! So when they ask, explain why you can’t and be honest. It just helps them understand the value of money.
10. Accept all donations from friends and donate as well. Don’t feel dumb about doing so. I trade clothes with two college friends in different parts of the country. My Boston friend sends me clothes for my daughter. I send her clothes for her son. I send my Dallas friend clothes for her daughter—many of which are being handed down a third time and are originally from my Boston friend. I rarely buy clothes for my kids. Occasionally a new pack of undies or shoes or school uniform piece. I once got a free stainless steel sink from a friend who was redoing a four-year-old kitchen. Her trash was definitely my treasure!
11. Wait on coupons for oil changes. Going 1,000 miles past the due date for an oil change won’t ruin the car. I wait for that coupon to come in the mail.
