Don't forget to enter the Lauren's Lovelies Butterfly-Inspired Necklace Giveaway and the Knit Witch Wicked-Fun Giveway! Both giveaways end March 23rd!
Okay, I'm SURE we're not the only family feeling the financial crunch right now. Almost a year ago, my husband and I made a decision that I would quit my job and become a SAHM. Yes, I would lose my income (which wasn't that great, but an income nonetheless) but we would gain alot in family capital. We moved the fam to PA for the amazing autism services; I quit my job; and hubby accepted a new position. Then, it hit us. We're stuck in the quagmire that is this economy. We can't sell our house. As with most companies, my husband's bonus was cut due to economic decline (better than his job being cut). And now we're faced with two options: 1.) For me to return to work (and spend most of my income on daycare and work-related expenses -OR- 2.) Continue to be a SAHM and cut as many financial corners as possible.
We decided to SIMPLIFY and re-think our lives. We've made some ground rules:
- Pick one entertainment/luxury that you won't give up (just reduce)
- Eliminate luxuries that you truly don't need or could do without and not even miss them
- Find ways to eliminate mounting debt
- Look for FREE fun
- DON'T deprive, DO makeover our lifestyle
So here's the deal:
The Problem: I don't want to give up crafting. It's a large part of who I am. However, the enormous cost of scrapbooking supplies, paper crafting supplies, and art supplies make crafting an expensive hobby.
The Solution: I digi scrap with FREEBIES (
Digital Scrapbooking Freebies,
DigiFree,
Ikea Goddess) I find online and a very inexpensive software package (
Scrapbook Max!) that cost me around $35. Sure, it doesn't do what Photoshop does, but it allows me a creative outlet. Also, purchasing most digi kits will only run you $5 or less and can be reused as much as you'd like (just be aware of the Terms of Use). I gave up paper crafting for the time being unless there is a special thing/event that I will craft presents for (Mother's Day). I gave up the art supplies. BUT - I kept the luxury of buying yarn. I have decreased the amount and frequency in which I buy yarn and have started to dive into my own stash before automatically buying more yarn.
The Problem: Our entertainment costs seemed so small. We don't eat out much. We rarely go to the movies, sporting events, or concerts. So I was trying to figure out where our entertainment costs actually were. I found them in the extra cable channels, our respective satellite radio subscriptions; multiple DVRs, and wasteful grocery shopping.
The Solution: We cut our cable back to basic cable. We now only have 1 DVR. We eliminated our satellite radio subscriptions. I plan out our meals so that the ingredients I purchase at the grocery stretch over two or three dinners. (
LOVE Quick Fix Meals with Robin Miller for this) We cut our cellphone contract to the minimum package without all of the bells and whistles. WE cancelled our magazine subscriptions.
The Problem: Mounting DEBT! Ouch!
The Solution: We consolidated our debt (some credit cards charging as much as 29% interest!) to a low interest loan at 3% interest. We paid off the credit cards with the loan money and cancelled the credit cards. We've kept one credit card which we decreased the limit down to almost nothing. Our new motto: if we can't pay for it right now, we're not buying it.
The Problem: How to have fun on an extreme budget
The Solution: Free, Free, Free! Free concerts in the park (our community does this once a week). The library is FREE! We take advantage of library programs and borrowing books. Free playdates! Meeting other parents in the park for free playdates. Free community activities (our community has a terrific calendar online). Bike rides, walks, and board games. Remember when we were kids and this is what we did with our parents? We didn't have a dayplanner's worth of paid activities at age 5. Our son kept his art center membership and we kept preschool for our daughter. These are enriching activities that we could not eliminate. We DID eliminate activities that the kids were quasi-interested in.
The Problem: Not feeling deprived.
The Solution: With awesome resources like:
- The Grocery Game
- Coupon Mom
- Consumer Queen
- Money Saving Mom
- Mommysavers
- and the countless frugal bloggers who blog about how to save money, repurpose or reuse materials, and new ways to live well on much less.
It's all out there, but it takes alot of work to research these things daily. It has become my new fulltime job. Excess, waste, and accumulation of toys is so out. Home economics is back in and in a big way! -Everything from stretching meals; repurposing discarded items or gargage sale finds; making it yourself and saving a boodle; or just getting back to the basics : gardening, sewing, cooking.. Any little bit helps. You don't have to be a domestic diva to incorporate a few changes in your life that add up to big savings.
The bottom line.. we don't miss what we've given up. We actuallly spend more family time together. The only added expenses have been subscriptions to Grocery Game and the Sunday paper (only). The value of the coupons from the Sunday paper exceed the cost of the paper! And with Grocery Game, I've slashed my grocery bill in half! We can do this, frugal moms!
What are your money-saving tips/resources? What have you had to makeover in your life?

Show Me the Money!