Tuesday, February 23, 2010
Friday, February 19, 2010
Shifting Gears
Hi, everyone. I decided to reclaim this blog...meaning I will not be dedicating this blog just to Seth updates (though I will give updates on him at times), but I will be posting my thoughts and ideas that I have found helpful in my life...that I sincerely hope will help you!
This year we decided to really get back on track with our budget. When I crunched the numbers I was surprised at how meager our income really was in relation to expenses. That means big changes ahead! I figured out that we had $200 per month to live on, that includes gas, food and everything else. Since Luke has a large commute and I go to various playdates throughout the week I figured that half of that was gone right away in gas money. So...how to live off of $100, that is a great question! At the time I was working out these figures we were spending about $75 per week just on groceries...and I really don't want to live off of credit cards. Starting in January (so this is the end of month two), this is really what has helped me stay within the $100 guideline for living expenses:
1) We rarely, if ever go out to eat. We have gone out a few times, but that was only when someone else was paying (which we try not to take advantage of), using gift cards, or using BOGO coupons and stretching it over at least 2-4 meals. I found that some people are willing to exchange gift cards for services. Case in point - I did my mom's taxes for her and she gave me a $50 gift card to a local restaurant. She would have paid $100+ to have a professional do it, or she could have done them herself but she saved herself time and money by letting me do this. I was a financial advisor/loan officer, before being a SAHM so it wasn't like I was totally unqualified to do this.
2) I coupon - like crazy! To start off, I buy an Entertainment book every year, and then I go on craigslist and coupon swap. What this means, is I get the maximum amount out of the book. I usually only use 15 or so restaurants and when I do the coupon swapping, that means I have 10-15 coupons per restaurant! This is really helpful for if we ever end up treating people when we go out to eat (Luke and I would share a meal, and buy the other person the free one) as well as just saving money. If we were to eat normally, we might spend $10 on an entree, but if you have a BOGO coupon, you save half the money and are able to stretch it over a few meals if you only eat half a meal at a time (eat half now, get half to go for a later meal). This means you can get $20 worth of food, and still be at $5 per meal. Secondly, I also coupon when grocery shopping. I now shop, almost exclusively at Rainbow due to their doubling policy. On Wednesdays (and some Saturdays) they will double up to 5 coupons, up to $1 each if you spend at least $25. Also, you can find many things for free using this method - perfect example was last week, Wheat Thins were on sale for $1.99 and I had a $1 off coupon. This doubled and it became free!
3) I primarily cook from home, and I meal plan once per month. I was always envious of those "practically perfect" housewives that had a meal plan. I thought - wow, they are so organized - I wish I could do that! What I didn't realize was how much time and money you save when you do meal plan. It takes me about half an hour, once per month, and saves me three or more trips to the grocery store, as well as LOADS of money. January I spend $65 the entire month on groceries, and this month it is about $85 (and I'm including some non grocery items in the total, such as cleaning products and paper products!) Plus, the flexibility of shopping once per month is great since I can cook any one of the meals that I chose (12 per month) depending on my mood for the day...and I always know that I have everything on hand! No more having a craving for something and having to eat a frozen pizza or having to run to the store for that missing item!
4) Take advantage of freezer space! I don't mean that you have to go out and buy a deep freezer (as I honestly think most of the food would go bad, or be reduced quality if you bought in that much bulk), but it is really handy to freeze things for later use. A loaf of bread will keep, almost perfectly fresh, for a week or more in the freezer. Cheese will keep several months, and meats will also keep for several months. So, when Rainbow has a sale on beef or chicken for $1.99 per lb, I stock up, and then freeze them in 1 pound increments. That way, if I know I'll be making something that calls for hamburger, I can just take out the amount I need the night before or the morning of and it will be ready to go by supper. Also, if you chop up fruit (such as bananas) and veggies (like bell peppers), you can freeze them in baggies and just grab and cook and not worry about spoilage and wasting.
5) Control shopping/spending habits. If you don't go to the store, you tend not to spend money. I know that is not a surprising concept, but for a recovering shopaholic, it is an epiphany! I now keep a small stash of coupons (you know the 20-30% off coupons that drag you into the store and get you to buy lots of things?) in my purse. I do not, however, use the coupons to justify a trip to the shop (except for the rare occasion that I find a Kohl's 30% off coupon). I keep them on hand, for emergencies only. What would be an emergency? An unexpected birthday invitation, running out of an item that you use frequently (for example, I scrapbook and an absolute necessity is tape, without it, I can't do anything!), or something of that nature. The goal, however, is to go in, and go out, only buying what was on your list. The Kohl's coupon I use to buy clothes (which is especially nice when you find an item on 70% off clearance, then can take an additional 30% off, they are practically giving it to you!) or gifts. If you are lucky you can use the coupon on a Kohl's cash weekend and that really is like free money! Since they only give these out once or twice per year to charge card holders, I don't find myself going there frequently enough to get myself into trouble.
6) Tithe. I know this may sound weird to those that are not accustomed to tithing (and if you are not a Christian, this tip will not help you), but it really does work! On more than one occasion we have tithed not knowing where money would come from for a necessity..and then God shows up and provides it! He has always been faithful in this, and as my friend Leslie said "we can't afford NOT to tithe!" God grants us our daily bread, or our needs for the day, even if we feel we are just getting by. Other times he blesses us abundantly! On another note, pray that God would grant you favor in your finances. That does not mean begging Him to make you a millionaire, but just seeking Him for help with controlling your budget. This is not a prayer I have often prayed, but God has surprised me the times I have. I prayed for my in-laws recently because it appeared they would have a major, unexpected, expense and I prayed that God would show them favor. A week later we get a call that my mother-in-law got a $4 raise! That is in a small town where that sort of thing never happens! Praise God! I also prayed this over my husband, and his workplace, and this week he was given a promotion and raise! So, now when we were concerned that we'd be struggling to live off of $100 for food and necessities, we now have over $200 for that. So, thanks be to God for His provision!
Well, I do have more tips, but will have to save those for later as it's time to feed Seth lunch and go about my daily business. I hope some of this helped you!
This year we decided to really get back on track with our budget. When I crunched the numbers I was surprised at how meager our income really was in relation to expenses. That means big changes ahead! I figured out that we had $200 per month to live on, that includes gas, food and everything else. Since Luke has a large commute and I go to various playdates throughout the week I figured that half of that was gone right away in gas money. So...how to live off of $100, that is a great question! At the time I was working out these figures we were spending about $75 per week just on groceries...and I really don't want to live off of credit cards. Starting in January (so this is the end of month two), this is really what has helped me stay within the $100 guideline for living expenses:
1) We rarely, if ever go out to eat. We have gone out a few times, but that was only when someone else was paying (which we try not to take advantage of), using gift cards, or using BOGO coupons and stretching it over at least 2-4 meals. I found that some people are willing to exchange gift cards for services. Case in point - I did my mom's taxes for her and she gave me a $50 gift card to a local restaurant. She would have paid $100+ to have a professional do it, or she could have done them herself but she saved herself time and money by letting me do this. I was a financial advisor/loan officer, before being a SAHM so it wasn't like I was totally unqualified to do this.
2) I coupon - like crazy! To start off, I buy an Entertainment book every year, and then I go on craigslist and coupon swap. What this means, is I get the maximum amount out of the book. I usually only use 15 or so restaurants and when I do the coupon swapping, that means I have 10-15 coupons per restaurant! This is really helpful for if we ever end up treating people when we go out to eat (Luke and I would share a meal, and buy the other person the free one) as well as just saving money. If we were to eat normally, we might spend $10 on an entree, but if you have a BOGO coupon, you save half the money and are able to stretch it over a few meals if you only eat half a meal at a time (eat half now, get half to go for a later meal). This means you can get $20 worth of food, and still be at $5 per meal. Secondly, I also coupon when grocery shopping. I now shop, almost exclusively at Rainbow due to their doubling policy. On Wednesdays (and some Saturdays) they will double up to 5 coupons, up to $1 each if you spend at least $25. Also, you can find many things for free using this method - perfect example was last week, Wheat Thins were on sale for $1.99 and I had a $1 off coupon. This doubled and it became free!
3) I primarily cook from home, and I meal plan once per month. I was always envious of those "practically perfect" housewives that had a meal plan. I thought - wow, they are so organized - I wish I could do that! What I didn't realize was how much time and money you save when you do meal plan. It takes me about half an hour, once per month, and saves me three or more trips to the grocery store, as well as LOADS of money. January I spend $65 the entire month on groceries, and this month it is about $85 (and I'm including some non grocery items in the total, such as cleaning products and paper products!) Plus, the flexibility of shopping once per month is great since I can cook any one of the meals that I chose (12 per month) depending on my mood for the day...and I always know that I have everything on hand! No more having a craving for something and having to eat a frozen pizza or having to run to the store for that missing item!
4) Take advantage of freezer space! I don't mean that you have to go out and buy a deep freezer (as I honestly think most of the food would go bad, or be reduced quality if you bought in that much bulk), but it is really handy to freeze things for later use. A loaf of bread will keep, almost perfectly fresh, for a week or more in the freezer. Cheese will keep several months, and meats will also keep for several months. So, when Rainbow has a sale on beef or chicken for $1.99 per lb, I stock up, and then freeze them in 1 pound increments. That way, if I know I'll be making something that calls for hamburger, I can just take out the amount I need the night before or the morning of and it will be ready to go by supper. Also, if you chop up fruit (such as bananas) and veggies (like bell peppers), you can freeze them in baggies and just grab and cook and not worry about spoilage and wasting.
5) Control shopping/spending habits. If you don't go to the store, you tend not to spend money. I know that is not a surprising concept, but for a recovering shopaholic, it is an epiphany! I now keep a small stash of coupons (you know the 20-30% off coupons that drag you into the store and get you to buy lots of things?) in my purse. I do not, however, use the coupons to justify a trip to the shop (except for the rare occasion that I find a Kohl's 30% off coupon). I keep them on hand, for emergencies only. What would be an emergency? An unexpected birthday invitation, running out of an item that you use frequently (for example, I scrapbook and an absolute necessity is tape, without it, I can't do anything!), or something of that nature. The goal, however, is to go in, and go out, only buying what was on your list. The Kohl's coupon I use to buy clothes (which is especially nice when you find an item on 70% off clearance, then can take an additional 30% off, they are practically giving it to you!) or gifts. If you are lucky you can use the coupon on a Kohl's cash weekend and that really is like free money! Since they only give these out once or twice per year to charge card holders, I don't find myself going there frequently enough to get myself into trouble.
6) Tithe. I know this may sound weird to those that are not accustomed to tithing (and if you are not a Christian, this tip will not help you), but it really does work! On more than one occasion we have tithed not knowing where money would come from for a necessity..and then God shows up and provides it! He has always been faithful in this, and as my friend Leslie said "we can't afford NOT to tithe!" God grants us our daily bread, or our needs for the day, even if we feel we are just getting by. Other times he blesses us abundantly! On another note, pray that God would grant you favor in your finances. That does not mean begging Him to make you a millionaire, but just seeking Him for help with controlling your budget. This is not a prayer I have often prayed, but God has surprised me the times I have. I prayed for my in-laws recently because it appeared they would have a major, unexpected, expense and I prayed that God would show them favor. A week later we get a call that my mother-in-law got a $4 raise! That is in a small town where that sort of thing never happens! Praise God! I also prayed this over my husband, and his workplace, and this week he was given a promotion and raise! So, now when we were concerned that we'd be struggling to live off of $100 for food and necessities, we now have over $200 for that. So, thanks be to God for His provision!
Well, I do have more tips, but will have to save those for later as it's time to feed Seth lunch and go about my daily business. I hope some of this helped you!
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