1)  Commit to eating all of your meals at home for the next two weeks.  No more last minute eating out; no more trips through the drive-thru.

2)  Plan your meals for the week.  Look through the sales flyers, look in your pantry and freezer.  Plan your meals according to what is on sale and what you already have.

3)  Take a snack and a drink with you.  Whenever we leave the house, we usually take a container of ice water and a snack.  Many times we are out of the house longer than anticipated.  It’s good to be prepared in order to avoid pulling over at the drive-thru or gas station.

4)  Make your own coffee.  Coffee is one of my weaknesses.  The problem is my favorite coffee drink costs over $4.  I have learned to make my own at home.

5)  Look for inexpensive entertainment.  Forget going to the movies and other expensive outings.  Have a family game night or rent a movie from redbox.  Check out your local city’s website for free and low cost activities.

What ways can you cut your expenses?

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Post from: Thrifty Mommy

They say opposites attract and I guess that can be true of friendships as well.  I have had three close friendships.  I’m talking tight, share all secrets with girlfriends.  All three of these ladies had issues with spending.  After being friends with them for a while, I noticed that all of them began to tone down their spending, their impulsive shopping, their wild credit card spending, and they began to look for bargains on the things they purchased. 

Of course when you are close friends with someone, you talk about life.  You talk about the things you buy, the reasons you buy them, what your long term goals are, what you’re saving for, and if money is tight you talk about that too.  Here are some things I have mentioned to my friends that I feel has caused them to be more aware of their spending:

• My objection to car payments – Try to save for a vehicle, pay cash if possible, finance as little as possible, don’t go for a high dollar car, and also the crazy depreciation rates.
• Don’t charge it – Basically, if you can’t afford to pay cash for it, you don’t need it.
• Impulse shopping – Avoid making impulse purchases. Think about it.  Plan for it.  Decide if you can afford it.
• Comparison shop – Look around for the best bargain.  Shop the sales.
• Use coupons – Try to use coupons on groceries, dining out, and entertainment.
• Plan for the future – Leave within your means and save for the future.  Save for a rainy day so that you don’t have to use credit for emergencies.

Have your finances affected your friends?

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Post from: Thrifty Mommy

In December, our family moved to a very rural area.  It’s beautiful out here.  The neighbors have llamas, donkeys, horses, and cows.  It’s nice and quiet.  There’s just one problem . . . the only grocery store around is Food Lion. 

Food Lion does have some nice weekly specials that I like to stockpile, but I am really missing my Lowe’s Foods.  Each week, I would print out The Grocery Game list for Lowe’s Food, clip my coupons, and I felt a great deal of satisfaction when I rolled out of there saving such a nice chunk of change.  It was a personal goal to keep our weekly grocery budget under $75.  Many weeks I did not spend half that amount.  Some weeks I did, but our cabinets were so full!!!!  After my husband was laid off, we ate off our stockpile for months and was able to share with others too!

There are other groceries stores around in the larger cities, but who wants to drive 15-20 miles to the grocery store?  I sure don’t.  That takes a lot of extra time from my schedule. 

Since moving here, I have had to increase our food budget by at least $25 per month.  Now that we have an active, growing 11-year-old (who eats more than I do), I find I’m spending even more.  As a very thrifty person, this is really hard for me.  Sometimes I am spending over $100 per week on groceries!!!!! 

I need to put all this out of control spending to rest.  I think if I had a regular plan in place, I could start saving a lot more money.  I’m thinking I need to plan one day each week to go to “the big city” (lol) to do my grocery shopping.

What do you think?  How can this thrifty mommy get back on track?

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~Proverbs 21:20 TLB

Post from: Thrifty Mommy

Bob was questioning Sheri if she would ever spend $5,000 to go to a show, concert, or anything that she really wanted to see.  Sheri said she wouldn’t.  

$5,000?!!?  Seriously?  I am still blown away when I hear stuff like this.  I would have to be a millionaire to even consider blowing money like that.  Even then, I’d probably still feel totally guilty about the starving children in the world I could have saved. 

This makes me curious . . . what’s the most you’ve ever spent on an outing?  I’m not talking a vacation.  (Well, I wouldn’t even spend $5,000 on a vacation.)  Or how much would you consider spending?  Do you have a limit?  Inquiring minds want to know.   

Post from: Thrifty Mommy

My knack for thriftiness was given to me by my mother.  We were not wealthy growing up and my mom did the best that she could to make her dollars stretch.  She would constantly scrutinize the cost of items.  I learned as I watched her read sales papers, clip coupons, check price per unit, scope out clearance sales, and go back to the customer service desk for a refund on overcharged items. 

There have been many times in my life that I have been frugal out of necessity and there are times that I’m thrifty just because I can’t stand to spend more for something than I should. 

You’re obviously reading this site because you want to learn how to get the most for your dollars.  As parents, we also need to teach our children about money and finances so that they understand it’s value and do not become irresponsible overindulging spenders that have no money to their name and tons of debt.

Here are some tips for teaching your children about money:

1.  Take them to the grocery store.  Let them help you add up your totals and stay within your budget.

2.  Show them how you shop using the sales papers, making a grocery list, and clipping coupons in order to save.

3.  Give them a small allowance or afford them opportunities to earn a little money.  Even if it is only 50 cents a week, it will provide an learning experience.  (FYI: I believe that every child should contribute to the household.  I don’t think children should be paid for every little thing that they do, but I do agree with giving them opportunities to earn money.)

4.  Don’t buy them whatever they want.  Teach them to save for the things they want.  This will help avoid instant gratification problems with debt and will help them learn the value of saving.

5.  Let your child know that you can’t afford to buy everything.  Talk about how much the item costs.  Encourage your child to ask for extra jobs to earn the money.

6.  Talk with your child about every day expenses.  My daughter is 4-years-old and I have already began talking with her about the cost of water, electric, food, and our home.  She understands that it takes money to live.  Try to keep the conversation on the child’s level.

7.  Teach your children about the dangers of debt.  Personally, I think debt is pushed and marketed to us entirely too much.  When a student goes to college, there will be credit card companies with booths set up all around campus to help your child in case of an emergency to push your child into an ever so easy indulge now and pay later lifestyle.

8.  Discuss financial decisions with your child so that they have a better understanding of how things work and the importance of making the right decisions.  Discuss the pros and cons of making the decisions.

9.  Explain the bigger picture.  Explain that going on vacation doesn’t just require money for a hotel.  Explain the expenses of gas, food, entry fees, and any other expenses you may inquire.  If your child is old enough, perhaps you could have your child help you figure out how much the vacation will cost and develop a budget together.

10.  Teach your child to share with others that are less fortunate.  Our family has decided to sponsor a child in Haiti.  We have explained how poor the Haitian people are and my daughter wants to do extra chores to help earn money for them.  This will be a good learning experience for my children as they learn to help others and are appreciative of what they have.    

Do you have any tips to share?

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Post from: Thrifty Mommy

I guess how much you spend depends upon where you live.  I’m sure that in the last 10 years, we haven’t had more than 10 children at our house trick-or-treating.  Maybe it’s because there are so many church and school festivals and other activities going on.  

I have a friend that lives in a neighborhood that has a few hundred houses.  She says that every year she spends more than $100 on candy and each year she runs out.  Can you imagine?

So, we want to know.  How much money do you spend on Halloween?  Please vote in the poll and leave any comments below. 

Post from: Thrifty Mommy

Why does she need another job?  Her husband has a good job and has been employed at the same company for years.  She has been at the same well paying job for probably 15 years or more.  They have a nice house, but they have owned it for a while so their payments shouldn’t be much, probably even less than mine.

And so I wonder how does a family of four in which the parents have two really good paying jobs need more money?  I think that most of the answer lies within contentment. Why do we have to have the nicest clothes and a new car every few years?  Why are we not content with buying a car a few years old?  No, we have to have the car that has the fold down seats and other special features so we pay another $20,000 for it.  $20,000?!?!!!  That just seems insane.  Twenty thousand dollars for a few luxuries. 

Or how about the man or woman that looks for fulfullment beyond their own marriage because their spouse doesn’t give them enough attention.  There are days when my husband gets on my nerves and I know there are days when I get on his, but we have to be content with one another and know (and pray!) that the bad days will pass.  It would be really hard to find someone else that would love me and my kids the way that he does, provide for our family, come home every night, and love God. 

It seems that some people will always be living up to the extent of their means no matter how much money they make.  If we make $20,000 a year, then we’ll have $16,000 a year in bills.  If we make $60,000 a year, then we’ll have $35,000 a year in bills and spend the other on having a good time.

I rack my brain trying to figure out the reason behind all this madness.  When it’s all said and done, what do we have to show for our money?  Why are we spending $20,000 on depreciation of a vehicle?  Why aren’t we putting the $20,000 in an IRA, mutual fund, or college fund for our children?

The average American spends more money than they make.  When will this stop?  It is going to catch up with us at some time or another; possibly when it comes down to robbing Peter to pay Paul, as the saying goes.  Do you have to get a cash advance on your Visa to pay your car payment?

I know someone that will only buy his clothes at Hollister or Abercrombie & Fitch.  This same person compliments my husband on his clothes and my husband tells him that they came from Wal-Mart or Target.  My husband told this guy that he should take his $75 that he was going to use to buy shorts and Hollister and spend it at Wal-Mart getting 6 pairs of shorts.  The guy said, “No way.  I’m not buying my shorts from Wal-Mart.”  Ok, so he liked them, but basically there is a pride issue there to where he won’t buy his clothes from Wal-Mart.  How many of us are like that with different issues?

Folks, I don’t mean for this to sound preachy because I have been horribly in debt.  Trust me.  It’s not a fun place to be in.  Debt weighs us down and these material possessions will only last for a time.  Soon the debt will catch up with us.

Materialism is a barrier to contentment.  Whether or not you’re a believer, the Bible has some good things to say about contentment.  I think we all could benefit from them.

Be content with what you have.  Hebrews 13:5

I have learned to be content whatever the circumstances. I know what it is to be in need, and I know what it is to have plenty. I have learned the secret of being content in any and every situation, whether well fed or hungry, whether living in plenty or in want. I can do everything through him who gives me strength.   Philippians 4:11-13

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I know what it is like to be in debt.  I have felt it’s choking hold.  It is no fun.  Debt keeps you from doing the things that you want to do and that you are called to do.  Debt makes you worry what is going to happen to your family if you were to be unemployed for a week or two.  Like I said, I have been there, so I can relate.  Taking the Financial Peace classes that I have mentioned before has really helped our family.  We are making positive steps now. 

I’m not saying that every 2 income family with money problems isn’t content.  I know that some people have medical bills and other circumstances that have prohibited them from succeding.  The issue here is contentment, which is a lifestyle, and not one that is full of pride and covetousness.

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Post from: Thrifty Mommy

Almost 61% of consumers plan to celebrate the holiday and the NRK is predicting retail sales to reach $13.70 billion, up from $13.19 billion last year.

Please vote in our poll and let us know how much money you intend to spend for Valentine’s Day.

Here are some interesting facts for you:

Source About.com, picture from pro-giftbaskets.com

Post from: Thrifty Mommy