I was going to ask this question when I got sidetracked by the traveling pj's! great fun for a Sat. morning!!!! September will be our first month without a paycheck. Would love to hear any and all money saving tips you've discovered. I know there's a wealth of experience out there. ChrisS
I go to my local Food Bank. Embarrassed to admit it. John and I were always the ones helping other people fill their needs. I can go once a month and they fill a huge box with all kinds of foods (canned goods, pasta, rice, fresh veggies and frozen meats...around 50-55lbs of food, they'd give me more but it's only me I'm trying to feed). They ask if I have any preferences. I figured it out yesterday.....I probably got around $60 worth of food. I feel like a looser, but it is helping me. There are no 'qualifications', just show them you are a resident of the locality that they serve. (I even found two ribeye steaks in my package)
I'm no help in this area at present, although unless the stock market improves a lot we may face similar problems down the line. About all I have done so far is drastically reduce our charitable contributions and eat out a lot less.
I shop at more discount stores like Aldi's for groceries. We don't go out to eat as much anymore and if we do it's usually fast food from the dollar menu. Little cuts all over can make difference.
I clip coupons and use them at the grocery stores, restaurants, wherever. I use less gas by trying to combine errands; I keep lights turned off throughout the house when possible, until late afternoon and evening. I use the A/C less - unless it's absolutely too hot, I just use the fan part and overhead fans throughout the house. I do all banking and paying bills on-line - saves on postage. Changed all my lightbulbs to the new ones; I don't use the dishwasher until it is full or nearly full. I now buy mostly private label groceries when possible. I fill up the gas tank when the price is low - even if I only get a few gallons - if I'm going by a gas station. All the little thing add up. Our income/outgo is pretty much the same every month - yet I see my bank account growing - albeit slowly. I buy all our clothes at a consignment shop. The owner will call me when she gets in items in my size of Loft, Ann Taylor, Talbots, etc. They always fit and hardly worn. Same with DH's clothes. In return, I take all my lightly used non-brand stuff to her to sell for me. My closet is looking better, I look better and I feel better! LOL
Bartering/trading works too. Traded some stuff I had to our mower in return for him doing extra work for me. You have to get creative and you'll be surprised.
I do still let DH buy stuff we don't need at the grocery store - that's his '"fun thing" to do! Then I donate it if we don't use it.
Having just started a new job, needing decent attire (I lived in sweats and tees, crocs and tennies), I have found amazing deals at Goodwill. I have found leather flats that barely show wear for 6 bucks, and like new docker slacks for 5. Some great name brands that nobody would know I didn't buy new. The hospice I now work for has a thrift shop that I plan to visit for the first time today. I hear they have great stuff at great prices, and employees get additional discount.
ChrisS-- A couple things. Apply for Food Stamps. If you qualify, that at least will help the food end of your needs. Cut and use coupons trying to match them with sales, to get even better prices. Use store brands whereever possible, but if there is an item you particularly need or prefer go ahead with the brand name (ie:laundry products and skin allergies). When ever possible stock ahead. That way you aren't HAVING to buy everything all the time because you've run out. Sign up with a pantry. Once I lost my little bitty parttime job last October, we did that, and can go twice a month. Ours is set up like a store, with the number of items we can take from any given shelf clearly marked. They do this so there'll be something for everyone coming there, but we can take items we will use. Also, try shopping stores like Aldis and Save-a-lot, where prices are lower and you bag your own stuff. Some quality on some things may not be as high, but for some stuff like paper goods, milk, eggs, catsup, mustard, that's okay.
Until you get the income straightened up and leveled out, pay only the minimum payments on all bills. You may have been paying more on some to pay them down, but for now meet the required, but keep every penny you can in your pocket for the unexpected.
And lastly, this will sound crazy, but keep out a bit for enjoyable purchases-- a package of ice cream, a movie rental, a paperback. Necessities come first, but if we don't take care of our souls, we'll surely fold under all the pressure we shoulder.
I've been shopping at thrift shops for years. they are great, and many times, the stuff is brand new. why would you pay retail (60 to 80 dollars) for a top from chico's when you can get it for $3.? even gift items, never even opened can be found by a good shopper.
I'm feeling like Marsh--the behavior of the stock market will make a lot of difference in the future, as to just how much I'll be skimping. Not that I splurge by a long shot now. I'm kind of hoping that by the time I have to live off invested funds, that the kids will be more or less self-supportive, and I will be able to eat peanut-butter and jelly, and otherwise have spending habits that are as frugal as I choose. The wild card is, of course, Jeff. If he is with me and home, I cannot work. If he is with me and not-home, I can work, but will have major care expenses. If he is not with me, I can work and scrimp. Hard to look at it that way, but those are the facts.
In our community we have Angel Food Ministries -- google them and see how close they might be to you. Anybody can order from them. I purchased the Convenience Box (like frozen dinners) once and DH liked them okay.
I also shop at thrift stores and have found some amazing things. I was at a wedding once and a friend stated that she knew someone who had bought a dress for a fancy dinner at a thrift store and wasn't that gross. I didn't say a word as the dress I had on was from the thrift store. :)
Ohmygosh! Who doesn't love bargains. We have stores like Baubles and Beads and the Bluebird Store,.. all are located in the very most richest areas of Houston. They will have St. John suits, other designer fashions, for pennies on the dollar. The Bluebird Store has funded the Neonatal Unit in the Methodist Hospital in Houston so every cent spent there goes to purchae new equipment to save the lives of preemies and babies in peril. It's a win-win purchase. Bluebirds get Estate goods, fine crystal, china, rugs, furniture in addition to clothing. Cashmere coats, beautiful garments. They have a large facility and their inventory changes weekly. What is GROSS about that? ...... I guarantee you, Deb, if we took the friend to either of these stores, she'd come out with an armful. I only wish I lived closer to those places now!! (grin).
We have a place here called My Sister's Closet which has a lot of upscale brands. You can get a designer purse for like $30 or less. All of these are barely worn.
I also shop at Aldi--great prices and all the staples you need. I read an article in the Wall St. Journal that said their prices are even better than Walmart. A lot of cost saving things that were mentioned above (turning out lights, using less A/C, staying out of debt, etc.) was the stuff our parents taught us, especially if they lived through the Depression. I sure am thankful now for that upbringing.
Oh Deb, $30 for a purse is way out of my budget right now. I will be lucky to have enough money to get me through till the end of this month. Five week months are the worst. I go to a food pantry, signed on for free produce at the local farmers market, shop at Goodwill, just got Diego a dresser there for $60. I am a regular at the Dollar Store and Family Dollar. We stretch our meals with lots of pasta and hamburg. Have cut out deli meats that aren't on sale, clip coupons and have given up watering the gardens, netflix, fancy wine, eating out, going out for ice cream, the house phone, new school clothes, car wash, manicures, eyebrow waxing, hair coloring, hair cuts out, done at home now by my son's girlfriend and a zillion other things that used to be just normal budget items. You do what you have to do to provide for your family. I don't think you ever gets easy but you do get used to it.
I had to buy tires for our car today. OUCH!!!!! But, I did feel good about the fact that when I walked in the shop I spoke right up and said "I just started a job and I need a PHENOMINAL DEAL on a set of tires." I have bought tires there for all of our cars over the years, and I really do feel like they try to give me a good deal now since they all know that Paul has passed away. From there I went to get the oil change in the toyota since we have a card for 10 years free lube and oil/filter changes. Right up the street from the dealership is the Hospice thrift store. I now work for Hospice and this past week I got in my work email that they were bursting at the seams with donations and are making everything in their store drastically reduced. I had to wait til today since they close during the week before I get off work. Today I found a pair of Gloria Vanderbuilt jeans that appear brand new (still have the threads intact that the original tags are put on with) in my daughters size. All clothes were $1, and everything else 50% off. I found a pair of shoes in my size. Leather upper Rockport walking shoes, the soles barely even scuffed........for ONE DOLLAR!!!!
freecycle. Chapters all over the country. at yahoo groups. Objective is to get things from those who have and no longer want or need, into the hands of those who do. Done on line. NO MONEY required/allowed.
Don't want or need--OFFER it on freecycle. Need or Want-- read the listings or ask with a WANTED ad.
In either case, contact online and arrange time for wanter to come pick up. Then post a TAKEN ad.
I found sneakers and shoes for the boys at Walmart marked for clearance! I bought every pair from the size they take now on up! Cleaned out the rack, lol
Love a good strong cup, especially my first cup of the day. I get coffee beans as a splurge now and again, and I keep a small grinder next to the coffee pot. (DH bought me a Cuisinart grind and brew that has ability to grind fresh beans just before brewing, but too much cleaning hassle for every day). More often than not I use ground coffee from the store. I try to stock up on coffee when I see a great sale. Used to always have multiple cans on hand in the basement when DH was here and we used to have lots of family visiting for extended periods. Now that its just me........well....I don't store it up like I used to.
Anyway, lately I have found that a lot of those pre-ground coffees require me to use more and more to get the strong flavor I want. I have found that they don't appear very finely ground. So, if I take those grounds and further grind them down in my small grinder I can use less and get a much stronger flavor. I just grind the amount I want at the time. I am making a can of cofee give me a whole lot more coffee than it used to.
Thanks for all your ideas. We used to shop at aldis when our kids were little and have just gone back. Our biggest no-no is eating out, esp. Culver's! John loves ice cream! This month i have recored all my purchases to see where we need to improve. Pretty eye-opening. We have concentrated on getting out of debt knowing this day would come. [Thanks for the help Grandpa!] So I paid all the bills all the time. Didn't think about going back to partial payments. Good idea.
My biggest $$$ saving tip is to get rid of the credit cards. Now I have to cut down on the debit card. Wonder if I could get a ton of discipline from freecycle?
Actually using my credit card is saving me money. First of all-I pay the whole bill every month. I know when the billing cycle ends and plan on larger purchases at that time. This gives me almost two months until payment is due. I track my purchases on line daily and know if I am spending more or less than the month before. Another plus is I get bonus points that I can use for merchandise or to reduce my bill. periodically I get a $25 check to use at specific stores like Staples or Walgreen's. I'm starting to sound like a commercial.
I still have my American Express Credit card (for the skymiles) and got a Discover card last year(for the gas points). Do you mind my asking you which card you use that sends you a check for savings? I, too , used to pay off my credit cards every month. When John was home (and his mind was functioning) that's what we did. Never carried a balance. I hate to carry a lot of cash around. Maybe using credit cards for gas is okay, though, cause I don't have to save every gas reciept for every fuel purchase? (I save everything)
I really try to keep track of my debit purchases. I'd rather use debit than credit,. For awhile I was using my Am ex for everything for the miles, but.... it starts to add up, then you can't pay it off at the end of the month. then you've got interest, and you really don't want that, expecially not now. Anyway, I find using my debit and tracking my account everyday keeps me in check.
Good advice to consider....debit card instead of credit. Yep, I just got a notice from AmEx that they were increasing the interest rate (even though I pay WAY more than the minimum each month in an effort to get rid of the debt). Just have to keep up with how much I spend.....I've always been afraid of debit cards because John gave me one a long time ago and (and each of the kids) and it REALLY got us into trouble. I remember THAT!! (it was like a game of "Money, Money, Who's Got My Money?"). Now, I have one, but I've never used it. Scares me.
One can use a credit card painlessly by deducting each purchase from the bank balance just as if using a check or debit card. Then when the bill comes in, voila, the money is actually in the account and the card can be paid in full.
My debit card has points that accumulate depending on the type of purchases you use the card for. After accumulating a certain number of points I can redeem them for a $25 credit to my checking account. I use my debit card for everything when I shop. Have tried to stop using credit cards altogether. If the money is not in the checking account, I don't buy it.
That's what I do, deb. Only time I use credit card is if traveling (which we don't do anymore!); or if I'm purchasing a large appliance or furniture - then I just pay it off. But I'm strictly "if the money isn't there right now - don't buy it"!
I canceled my credit card because of the increase in interest and fees. Fees I don't object to so much since I don't incur those, but I do have to pay interest from time to time. Gal I talked to said "Is it because of increased interest"? Anyway, I called my bank before doing that to confirm how debit/credit card works. She said they're encouraging their customers to use the debit card as a credit card. $ comes from same pot, but you have a signed receipt for purchase. Don't get the fancy cr card statements at the end of year. Have to be sure you have $ in the account, of course. I've used Freecycle mentioned in a previous post, too.
I am still writing checks and reconciling the bank account each month. We started years ago a written record of each check, date, to who it was written and amount. I can go back at least the last 20 years and have a record off my account. At anytime I can see what the expensives are for any catagory that I might need. It's the old bookkeeper coming out in me. I do have a credit card that I use but pay off the balance every month. We have refused to have a debit card. Can't teach and old dog new tricks. Besides it works for me.
Hey, Bama, how many years of bank statements do you have? Until this year, I had all 46 years!!! I kept them all - along with all IRS tax forms! Now, I only keep the last 5 years of bank statements. And credit card bills. I pay them off each month, but maintain them so that when I want to buy another car, or Heaven forbid, another house/condo, I'll have my good credit for a better interest rate. I charge my flights on the AMEX card so that if, Heaven forbid, the plane crashes, the kids will have lots of money to give me a humdinger of a celebration of life party (and money for themselves).
I have also learned this summer, that you can't take it with you and I buy too many items I don't need and I have now stopped doing that. I'm going to live leaner and meaner. I'm going to splurge on trips though. Memories don't require dusting.
On a lighter note, I heard it said once (maybe it was someone's one-liner here) that "you can't take it with you, but you sure leave a hell of a lot of debt behind!"
That's true, SG. If your father dies, you are not responsible for his debt, though the collectors will make you think you are.
I don't know about spouses. If a spouse has a credit card in their name alone, are you responsible for its debt when they die?
I've heard it said many times that you should not cancel credit cards, even if you don't use them. Tuck them away in case you need to prove your credit worthiness (buying a car or whatever). I use one, pay it off almost every month.
Every so often, I get two Subway footlongs for $10. I eat my whole but DH saves part of his for later. It is really a treat. The only other time I buy "fast food" is a pizza from Wal-Mart. It is their brand and only $9 for a large. Very good.
Our convenience stores are having a lovely price war over milk. You can get a gallon usually every day at one or the other for $2.70. At the stores, including Wal-Mart, a gallon is average $3.50 to $4.
I usually always watch the ads and buy the things we use most like bread in bulk. I don't spend much on groceries. Beginning last week, I can now eat out of our garden, turnups, potatoes, onions, carotts. We also have a full freezer with deer and elk meat. Although, DH lately does not want to eat game meat, so I am spending more on beef burger. I hope this one will pass as I make very good burger from my game meat. It's just a phase I hope.
Stooooopid question.....does anyone know what papers I need to save and for how long? I know about tax returns. How about all the information that went into preparing them (reciepts, etc). How about medical stuff such as benefits paid by insurance, auto insurance information (should I keep last year's and the year before?). Same with assessments...is only the current one sufficient? Is there a list somewhere I can access. Trying to streamline in here, 'cause it looks like I keep everything, I'm sure because I'm scared of doing something wrong and or not being able to 'prove' something. Past IRS audits have made me paranoid.
Jen, keep five years of all of the above because you will need them for the IRS, should they come back at you. If you separate all by year, then you know what to throw away without going through everything each time. I keep assessments and insurance information for the same length of time to be able to look back at what it was before in case I request an adjustment. I know I over-save, but having worked for a company that was audited, I won't let my personal self be unprepared for anything!
Banks like us to use our debit card as a credit because the fees they charge the merchant are usually 2-3% points higher than a debit card.
American Express admitted they raised our interest rates to compensate for the lost late fees cap - those are the new credit card reforms our congress passed. BUT - American Express spokesman and the notice I received emphasized that they no longer charge for going over your limit!
I agree with Deb, if the money's not in the checking acct, I don't buy it. I check my checking account balance EVERY morning, even before I log on here, lol. This keeps me on track. The credit cards are long gone. My Mom still uses one, but pays it off monthly. I'm trying to pay mine down, but lately I have all I can do to pay the minimum. We used to buy one of those Entertainment books that had buy a dinner get one free. It was fun and got us to try a lot of places we might not have gone to. But right now, no eating out, we're cutting back everywhere, but I'M STILL NOT LOSING WEIGHT????
I believe that if your name is not on a spouses credit card you are NOT responsible for it, but I'm not positive.
The biggest tip on saving money - don't spend. And save first. I have part of my paycheck go directly into my savings account each pay period. I've always been one who didn't go "shopping" unless I needed something for the kids. Once they were grown, I started looking for me, for furniture, for books....before you know it, I had established a very bad pattern that is hard to break. My motto became: If I see it, and I can afford it, I get it. The bad thing we did for several years was to charge the meals eating out. Got those credit cards paid off. Now I use the debit card which comes directly out of the checking account, so I don't overspend. - Now, I find myself adopting a new motto: Unless it is absolutely necessary, don't get it. I have too many clothes now (I have three sizes, just in case I lose weight again - which I fully intend to do - please hold your laughter!). So many dust collectors on the shelves - I need to have a garage sale, but my kids and best friends gave me those dust busters, so they have sentimental value - or at least that is what I tell myself.)
I have also found that when I get the urge to shop, I go to my local Salvation Army Thrift Store and just look around and if I see something I really like I can buy it because it's usually only a couple of bucks or less, but usually I walk out with nothing but felt like I had been shopping.
When our daughter entered our lives, she was not planned. An unplanned adoption!! I think I've told the story on here before, but to recap: my brother in law was a lawyer, called one day and said "how would you like a baby" and I said "maybe if it's a girl" and since it was, and had just been born that morning, three days later we walked out of the hospital in Santa Monica with a baby born to a fifteen year old girl whose parents were my bil's clients. We'd moved twice since our boys were born and I had kept only minimal baby things: hand-knitted sweaters, a few of the embroidered cotton dresses that needed starching, a porta crib. We also had gone back to a professor's salary after a couple of years living on high-paying government grants.
So Goodwill was our friend. Happened that someone must have had a girl-child given many beautiful clothes, Polly Flinders and Florence Eiseman, and also jumpers and so on; we really lucked out. For the three years we lived in Claremont, CA, our daughter was dressed from Goodwill (and by the doting grandmothers, neither of whom had had a girl to dress up before). We don't have one around here now, alas.
But we do go to the Pepperidge Farm "used food" store as my husband called it. Seniors day, of course.