Hi there! Two
Company Girl posts in one weekend! Yay! I already had a story in mind for coffee on Friday, so of course, I just had to get another post in about Home Sanctuary on a shoestring!
I was blessed to spend this weekend with my mom, sister, and niece. They drove over the mountains to visit after a very LONG winter of not seeing each other. When it comes to living frugally, my mom taught me just about everything I know.
When I was growing up, my parents owned a hardware store. It was there that I had my first job. They taught me the value of working hard for your money, saving it up, and spending it wisely. My mom started a savings account with me at a very young age and taught me how to keep track of the funds in my ledger. I still have that savings account today.
My first tip is to always know your balance in your checking/savings account. This may sound simple, but a lot of people don't keep track. I keep my receipts, enter my withdrawals and deposits into my computer, and then balance it both on-line and against my statements when they come. That way, I always know how much money we have in the bank. It keeps me from making "impulse buys."
That leads me to tip #2. Never buy on impulse if you can help it. When you want/need something, write it down. Consider how great of a need it really is and how much money it will cost. Think about whether or not you can fit it into your budget at the moment. Comparison shop. Watch for the best deal so that you can make an informed decision. That way you won't regret it later.
Tip #3 for living on a shoestring: Plan a budget, and follow it. Ours is the simplest of budgets. I started by writing down all our bills and the days that they are due. Then I added food, household items, personal, (clothes, haircuts, etc.) and entertainment. Our budget for entertainment may be small, but it's important to include it or you're spending money that's not there. I re-evaluate our personal budget twice a year. This year, we had to add a school category for supplies, snacks, backpacks, etc. because three of our children are now in school. Savings is a separate category for us and we put money aside when we can. It is our goal to some day be to the point where we can put something aside every month, however small it may be.
Tip #4, but actually the most important one in our household is that we faithfully tithe 10% off the top of my husband's paycheck. We firmly believe that God honors that, and 100 percent of what we own is His anyway. Over the years, He has always provided for us. Time and again He has met our needs, and we gladly give back to Him in return.
Now that I've shared a little about my budget and money management, let me briefly give you a few of my practical tips for saving money.
- Clip coupons. From what I've been reading, a lot of you already do. Great! I recently became a fan of printing coupons from my computer. If you don't get the paper, then that's a great way to still get savings.
- Combine coupons with promotions. Find out what weekly promotions your local grocery store is running. I recently saved 50% on my weekly shopping trip because I planned out my strategy beforehand.
- Keep a running list of what you need, take it with you to the store, and STICK TO IT.
- Want to take that one step farther? Meal plan. Start with one week (I plan six days at a time and then one day of left-overs). It's not hard to come up with six meals. Make a grocery list of what you need for that week's meals and attach it to your menu. File it and create a "menu planner" of your own.
- Stock pile when items are on sale if you have extra money in your budget to do so. I have a pantry full of staple foods that I use all the time. Then if we are really strapped one week (tighten up the shoestring!), I can get creative with what we have in our pantry. That doesn't just go for food. You can stockpile soap, shampoo, toothpaste, cleaning solutions, etc. Even if you think you don't have room, there are creative ways to store extras. (But that's a different post!)
- I mentioned an entertainment budget. To be honest, most of the time our budget in that area is non-existent. We have to be pretty creative. We LOVE board games. So when we do have a little extra, we tend to spend it on a game that we can play over and over again. When the weather is nice, we get outdoors as much as possible. Yesterday we went to the park to watch the kids' dad play softball. We brought a picnic lunch and played on the playground there. It was an incredibly fun time and we spent no money at all.
- When it comes to clothing, I don't buy unless it's on sale. We also accept hand-me-downs. If I have something that doesn't work for me anymore but is still in good shape, I offer it up to a friend. I've heard of friends doing entire wardrobe exchanges when they get desperate!
Well, I think I've taken enough of your time! I could talk about this stuff all day long. I also love reading your tips. Sorry this post came late in the weekend. I was busy "bargain shopping" with my mom and sister! :)
Have a great week everyone! I look forward to coffee next week.
-Melissa
