Cutting Your Budget
Wednesday, February 11, 2009
When I lost my job 6 months ago, David and I started adjusting our budget so that it would reflect our new income. An episode of Oprah the other day discussed what frugal families do.
Here is what we have done:
1) When we lost the Honda (RIP) to a car accident, we became a one car family. Though this only saves us $20/month in insurance, we have decided not to purchase a 2nd car at this time. I have to say that the brunt of this falls on David as he is the one that has to walk to the light rail every day.
2) We cancelled Netflix. Again, only a savings of $15/month, but it's something right? Instead we watch a lot of movies onDemand, suddenly have free HBO, and rent movies on AppleTV using gift cards we have received. You can also rent movies for free at the Library.
3) All Retirement and College saving is on hold.
4) Our spending has been cut down to only necessities. The only thing we spend money on right now is food, diapers, and clothes for Hadley. This is probably the hardest part for us. I have found that our grocery bill seems to have grown exponentially because of this. It's like I'm taking out my shopping frustration on buying extra broccoli. HA!
With all of the economic doom and gloom taking over the news lately, what have you been doing with your budget?
Labels: Opinions
By AllBeehive Wednesday, February 11, 2009
7 Comments:
I feel for ya. but i'm the one who takes the brunt of one car. luckily we live in a smaller area with a lot less snow. the jog stroller is rusting though with the use of heavy salt in Illinois. :( I can't believe what are food and booze bill is every month and we don't even eat out? hence the quest to find the cheapest best tasting wine. any winners?
our not are.
Our latest favorite wine came on my mother's recommendation. It is called Red Diamond Merlot and you can get it on sale for $5.99/bottle! It's usually $7.99 or so. They have other grapes, but the merlot is best. Black label with thin red diamond on it!
I've been intending to cancel XM for months, I was hooked on the election coverage but now don't listen to it much. Now I feel guilty that I'd be putting another nail in their bankruptcy coffin.
I will say that I've found several companies that have dropped prices when I called to cancel. My all-in-one Cable/internet/phone dropped my rate when I was going to switch to just internet and non-digital cable. Netflix lured me with a lower rate when I went to cancel that. Xm did the same. It wouldn't hurt to try with some services that you're considering canceling but are undecided on.
Most of the time when I read those "save money" tips I have to laugh because we're already cut to the bone in so many ways. The big problem is that we "splurge" on a daycare center instead of going to an unlicensed stay-at-home mom for half the price. I already shop second-hand clothes, off-brand groceries and dollar store toys. Not sure there's much more that can be done.
Now, I just have to be careful not to let the suddenly full bank account go to my head. Tax refund came today, but it's already ear-marked for car repairs and a new washing machine.
Did you see the Oprah discussion about grocery shopping with coupons? Amazing. Other ideas -- get rechargeable batteries. (Let me know if you need details on that.) Check Goodwill or ARC for baby clothes. I've heard of moms swapping toys for some free variety. And of course, 50 cent night at the dollar theater! :)
Jen, I am trying to learn more about this coupon/rebate savings thing. Unfortunately, we eat very close to the food chain and do not buy any processed box foods at all. It seems that the only coupons out there are for things we don't buy.
We really can't cut out any more than we already have, but I am a generic freak now. Hardly anything name brand enters our home. It makes such a difference. We also went from 7th Generation diapers to Target brand. That's a huge savings too.
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