Five young and thrifty Vancouver women were chosen to appear on the Oprah Winfrey show for their money saving habits.

After seeing Oprah’s Debt Diet show, Katie Dunsworth decided it was time for her and her friends to stop spending, start saving, and get richer. The show motivated Katie and four of her friends to start a money group and get smart about their spending, saving and investing.

These four women call themselves the Smart Cookies.  They meet weekly to confess their debt, make plans to pay it off, and start investing.  Their group serves as a way for them to hold one another accountable.  

The Smart Cookies are successful because they rely on one another.  They talk to each other on their cell phones.  When they are tempted to buy something, they call another person from the group.

Some of the things the women have done to save money are cut off the cable, get rid of their car, share clothes with one another, share magazines, and live on a budget.  One of the women sold her car and now takes a bus.  She saves over $700 a month in parking tickets, gas, and car insurance. 

For more information about the Smart Cookies, visit Oprah.com.   

Post from: Thrifty Mommy

Working moms and stay-at-home moms are so critical of one another.  Working moms seem to think that stay-at-home moms sit around all day and eat bon-bons while watching tv.  Stay-at-home moms sometimes think that working moms don’t love their children enough, they’re more concerned with their careers, or they aren’t willing to make sacrifices for the family.

I am a working mom, but I have stepped back from my career right now while the kids are young.  When my daughter was 14 months old, I went back to work teaching part-time at a preschool.  When my son was 7 months old I went back to the same type of job.  I have taken a huge cut in pay and this is a hard decision.  I am with my kids a lot!  Sometimes I wish I could be like a working mom so that I could send my kids away for a little while each day, just for the fact that they wouldn’t get on my nerves so much and that I could appreciate them more.  I also miss the health insurance and other great benefits, including retirement.

Work expenses are something that I had to consider when I decided to be a part-time stay-at-home mom.  I figured by the time I paid for childcare for 2 children, clothing, gas, and vehicle expenses, I would be clearing about the same amount of money that I’m getting now.  Perhaps it might be a little more, but it wouldn’t be much.

I am very fortunate.  I work at the preschool that my kids attend.  They go to work with me each day.  I take them to their class and they leave with me when I’m done.  And right now, my daughter is in my class since we’re short-staffed.  I am truly thankful that I have found something that works for my family. 

On the Oprah show today there was a debate as to whether or not women could have it all.  Oprah said something great.  She said, “You can have it all.  You just can’t have it all right now.”

And the debate goes on.  Tell us what you think about working vs stay-at-home moms.

Post from: Thrifty Mommy

Post from: Thrifty Mommy