So it's a day late for this title but I can't resist alliteration.
In follow-up to JoAnn's wonderful presentation here are a few ideas that I'm going to try. I'll do a full post on groceries another day.
In no specific order, here are some items on my budget that I would like to cut back on:
Insurance: I'm going to actually call my company to review what coverage I have for home and auto and then get quotes from 2-3 other companies to make sure I'm getting the best deal out there.
Clothing: I already try to make full use of hand-me-downs and second-hand stores for me and the kids. I also have two sisters roughly the same size so we trade clothes. Unfortunately I don't have the same size feet. Some people also take full advantage of 50% off days at Value Village, sales at Once Upon a Child (sign up for their e-mails). I guess for me the question remains - do I (or my kids) need this item of clothing or is it just to keep up with the Jones'?
Childcare: Swap childcare as much as possible to avoid paying for a sitter. For example, if you want to go to the temple but the idea of paying for a sitter for 6-7 hours is daunting, consider swapping with another family. I know of many families that already do this.
Power/Energy: are you on the best plan for your family? I have called the company to get them to explain things before and it's been so helpful. For example: floating versus set rate, budget payments, etc.
Phone/Cable/Internet - we currently have cable because it's a better deal than just phone and internet. However, once the intro deal is done, we'll cancel. The library is a wonderful place to get movies and tv series for the low price of $10/year.
Gifts: budget ahead. I try to count up how many people we will be buying for at Christmas, birthdays, etc (remember to include things like Mother's Day, Father's Day, Teacher appreciation, etc), average price and then average it out for the year. I know some families who don't give gifts for many events including Mother's Day, Father's Day, anniversaries, etc. We don't do gifts for extended family at Christmas or birthdays.
I think my 'love language' is gift giving so I tend to want to give everyone and their dog something but really, isn't a nice card or service better sometimes?
So, how do you save money?
Remember: Use it up, wear it out, make it do, or do without.
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What a coincidence. I have just heard from a friend of the family. He has informed me of a mortgage sale at his company. 2.89% for a 4 year term!!
ReplyDeleteYou could really get a leg up by transferring your mtg there, but continue making that same payments you have now + make an annual lump sum payment (tax return)!
If you want more information, I can hook you up.
JoAnn
We save money by:
ReplyDeleteCouponing: I save on average $10-$20 per shopping trip on products that we use. Only collect coupons for things you need...or else it is just a waste of money. Plus I swap unneeded coupons with coupons that I need.
Mystery Shopping: We save about $43-$90 a month by using mystery shopping to shop for things we need.
Free Family Activities: We do fun things that don't cost money. For instance, sledding, skating (or shoeing for the younger ones), games night, watch a favorite movie that we have, bake something together, go to the library and read...etc.etc.
Annual Family Pass: Dawe, Recreation & Michener Pass. During the summer my hubby takes the kids 3-4 times a week. During the school year about 1-2 times a week. We also use it to workout for ourselves in the gym or pool. It costs us $500 a year. Divide that by 7 people and 12 months. It costs us $6 per person per month. Not bad.
Christmas/Gift Buying : We have already bought all our Christmas pjs for the next year (and some for the year after...I found a really great sale in Vegas). By November I try to have all of the gifts bought. We also keep our eyes open for good sales on children's toys, for birthday parties that come up. The kids stay away from my closet b/c that is where they are all stored.
Buy Everything possible 2nd hand.
Recipes: We have become the king and queen of substitutions. One day I will post a list.
Banking: We bank with PC Financial, no fees and great saving account interest rates. If you have any questions ask. The other great thing is they pay us about $20 every 2 months in free groceries just for using them.
We have no cable, no cellphone and the basic plan for everything else.
http://www.youtube.com/watch?v=2uN610be7UQ
ReplyDeleteThought this might bring a smile to your face.