So I know that I am not an actual expert but I am a normal person with less than perfect financial experience. I just finished reading yet another article hoping to hear some new tips on how to save more and delete debt and again it gave the same over used tip of not buying your lunch and skipping the latte in the mornings. And then I continue to read snotty comments about how people who are having a hard time are having them because they are living beyond their means- this I do not exactly agree with as even though there are people who are just living beyond their means, not all of those who find themselves coming up short financially between each paycheck have control over that. The economy tanked a few years ago and the recovery has been a dismal one at best. Many people lost their jobs and when loosing a job, you cannot just drop all of your expenses. If you were comfortably able to pay a car payment and you loose your job, you may not be able to sell your car due to negative equity and you definitely can't buy a used car without payments. and sometimes you are in a position where you cannot give up the car due to family/work situations and transportation needs. So the "get a car without payments" suggestion is bullshit as the only way many of us can go about that is to stop paying our car payment and let it get repo-ed and destroying any credit we may have. Medical emergencies, dental emergencies (I personally had 2 emergency root canals last year and am waiting for the new calendar year so I can finish getting the teeth capped because I cannot afford $700 per crown), car repairs, home repairs, etc... happen and there is no control over that. Your only choice is often putting it on credit and then tryng to pay it off over time and yes you end up paying more in interest the longer you ake o pay it off but that smaller monthly payment vs paying the lump sum atleast leaves you money each month to pay your electric bill or buy you family groceries. Good people are trying to live below their means, but sometimes your means change suddenly and uncontrolably and you do not have the control to immediately get your debts in line with your new means, leaving you to struggle. So I have decided that instead of listing the same old ideas(and I apologize if some of these seem like the same old to you) I am going to list some real life ideas from a person who lives on a regular person's income.
1. Skip the latte's -Hahaha Just kidding :) but do cut back on eating out and if you do eat out, as we will sometimes grab a little caeser's pizza and breadsticks (which feeds our family of 5) for dinner - count that expense in your grocery budget.
2. Actually sit down and make a budget! Using a simple excel spreadsheet you can actually create a spreadsheet that not only maps out how much you are spending but it can show you what percentage of your income you are using for that particular bill but how much you actually have left after your bills- and no excuses of I don't have a computer as you can always got to the library, use their computer for free, make one, save it by making it into an attachment on an email (you can get a gmail or hotmail or yahoo account for free) and save the email as a draft so all you have to do is go to your email from where ever you are able and work on it- or just print it out to fill out by hand- no excuses!. But having a budget puts it in black and white of where you actually stand before you spend on extras.
3. Stop being lazy. Cook your meals from scratch and use all that you can of the food you buy. That bit of chicken or beef or ham left over can be used in sandwiches or in soup. If you have bread that is going to be getting old soon, put it in the toaster or oven on the lowest setting and dry it out and use it for breadcrumbs when cooking. The stalks left from your brocolli crowns can be blended and used in homemade cream of brocolli soup, browning bananas for banana bread/muffins, instead of throwing out the single piece of bacon left over from breakfast use it in your child's sandwich for their school lunch (or your lunch), etc... Waste not, what not. Plus, you can save on outings and things to do by making cooking a family activity, teaching your children a valuable skill, by cooking together in the kitchen :)
4. Generics are often (there are some exceptions though) just as good, sometimes better, than name brand and are often cheaper. Also, buy produce that is in season- its cheaper and it makes those blueberries only sweeter when you do buy them!
5. Clip coupons and stick to your list. Not all coupons are for junk and just because you have a coupon doesn't mean you need to buy the item. I have gotten coupons for salad, meats, eggs, peanut butter, milk, fresh vegetables and fruit, cheese, butter, yogurt etc... So who ever says coupons are just for junk can kiss my ass. Also, pairing coupons with sales can allow you to stock up on things for super cheap, leaving you less to have to buy in between large shopping trips. I honestly cannot remember that last time I actually had to pay for toothpaste, toothbrushes, soap, shampoo or deoderant because I always pair the coupons to the sale items and stock up (you just cannot get stuck on one brand). Yes it takes a little extra time to cut and sort and compare sales but if you get a coupon organizer and make it a habit to clip your coupons once a week and immediately put them in your organizer it saves a lot of time. I look at what I actually need around my house and make a list of needs, then I look at the ads vs my coupons, and if I see ads for things I know I can stock up on by using my coupons I will ad those to my list below the need items. I take my list to the store and I stick to it- no extras. Do you really need those cookies? Do you really need that expensive prepackaged hummus or can you just make your own?
6. Drop cable/satelite. Reality is that most shows worth watching are on basic channels anyway and those cannels are free. If you still can't pick up channels, try netflix- no commercials and its 1/3 of the cost of even the cheaper cable packages. And if thats out of budget, check a movie out at the library or READ A BOOK, -its free!
7. Instead of going out, have a potluck and play games. What happen to the days when the neighbors would all get together and play pictionary? This way you save on a sitter and gas to go some where and the activity itself...
8. On the same note, swap turns with a friend for babysitting for each other.
9. Stop going out. Try having a date night at home. Tuck the kids in early draw up a bubble bath or set up a little picnic area with cheese and crackers and some cheap wine on the floor in your bedroom. You would be amazed as to how much fun you could have playing a boardgame or video game together.
10. Get the cheapest internet if you have to have internet. Yes it may be slow, but do you remember getting on the internet 15-20 years ago? The slowest now is still way faster than it was then.
11. Do you really need to be on the internet all the time? If your answer is no, and there is no reason workwise, drop internet on your phone as that usually plays a huge chunk in the total of your cell phone bill, plus are you so personally disconnected from people that you can only communicate via Facebook? Plus is absolutely rude and annoying when you are trying to have a face to face conversation with someone and they are constantly checking their phone for status updates... How many minutes do you actually use? If you are no where near the total you get (way under) decrease them, and if you are going over, increase them as you will pay less than you are in overage charges. And if you see a commercial from your carrier that is a better deal than what you have, call them on it. They will often either match or sometimes give you an even better deal for calling them on it. And if your whole house has cell phones (or at least the adults who need them) drop the unneccessary land line.
12. When dealing with auto, home or rental insurance- Call every company you can think of and ask what they would charge for each thing and how much they charge for bundling and then after you called around, call them again and tell them how much cheaper the competitor is willing to charge you and make them compete with one another to give you the better deal. The $50 it took off our mortgage payment every month for getting a better deal on home owners insurance and the few hundred dollars every 6 months we save in auto insurance is SO worth the couple of hours it took to call around.
13. There is absolutely nothing wrong with second hand or gently used. We have shopped thrift stores, garage sales, craigslist, ebay/amazon and even swaps with friends and neighbors to find the best deals on things like kids clothes, furniture, appliances, toys, books, etc.. and I can tell you that being able to barter things we no longer used for a couple of Nintendo DS's for my kids for Christmas last year was a great deal to my eyes. My kids were just grateful they got DS's and probably couldn't care less they were gently used or came in the original box; All they cared about was that they got the thing they asked all year for.
14. Following that note- make your kids "put it on their wish lists" when they tell you they want something they see on tv or in the store. Wait and see if they ask for it on more than one occassion and if so keep an eye out for it when it goes on sale and grabit for their birthday or Christmas or whatnot...
15. When you do go out- For example, as a family gift each year for the holidays, my in-laws renew our zoo membership for us- we go to the zoo a lot. Instead of buying food or drinks there, bring your own- plan a picnic in the park and pack your own lunches so you don't have to stop and buy food while you're out.
16. Just because your broke or tight on funds doesn't mean you have to be a hermit either. Many libraries now offer passes to science centers, museums, zoos, etc... that you can check out and they often post it when there are community carnivals, fairs, movies in the park, etc.. (most of which are free admission to get into). Check these out and save on paying to go somewhere. Or simply go to the public park. Its free and you are getting active and spending time with your family (saves on a gym membership too).
17. Learn how to "do it yourself" when fixing things. There is a tutorial for almost everything you could need on the internet or at the library. Change your own oil in your car. Fix some plumbing. Put new calking in a crack. Paint your house yourself. Do your own landscaping/lawn up keep.
18. Recycle- I know this may sound crazy but even if where you live they provide recycl pick up for you with your garbage, some things are worht recycling yourself. For example, we have a recycling pick up with our garbage, but we take are cans in ourself. We smash and stash them in a spot in the garage and every so often we take them to the recycling center ourself. They pay us a $1 and change per pound and that can add up. Last time we went we got $50. Some states I know will even give you as much as $0.05 a can and that adds up quick! Plus you get a more personal feeling of doing something positive for the environment.
19. Conserve electricity. I do not mean that you have to install solar panels on your roof (thats awesome if you are able to though) but despite all the rebates it still requires a lot of money you have to front and normal people just don't always have money to do something like that. Turn off lights and invest in power strips and solar lighting for your yard (you can get those little lights often time for 2 for $5 at the store for the simple little ones and they still work and look great). Instead of all the lights outside being on, invest in some solar lights, they don't use electricity and can not only light up your yard but create beautiful ambiance. Using power strips to turn off appliances you may not be able to reach to unplug helps eliminate "ghost power" as some call it (that clock on your toaster overn, the red light on your TV when its turned off, etc... are your appliances still using electricity when you are not using them) and you are paying for that every month.
1. Skip the latte's -Hahaha Just kidding :) but do cut back on eating out and if you do eat out, as we will sometimes grab a little caeser's pizza and breadsticks (which feeds our family of 5) for dinner - count that expense in your grocery budget.
2. Actually sit down and make a budget! Using a simple excel spreadsheet you can actually create a spreadsheet that not only maps out how much you are spending but it can show you what percentage of your income you are using for that particular bill but how much you actually have left after your bills- and no excuses of I don't have a computer as you can always got to the library, use their computer for free, make one, save it by making it into an attachment on an email (you can get a gmail or hotmail or yahoo account for free) and save the email as a draft so all you have to do is go to your email from where ever you are able and work on it- or just print it out to fill out by hand- no excuses!. But having a budget puts it in black and white of where you actually stand before you spend on extras.
3. Stop being lazy. Cook your meals from scratch and use all that you can of the food you buy. That bit of chicken or beef or ham left over can be used in sandwiches or in soup. If you have bread that is going to be getting old soon, put it in the toaster or oven on the lowest setting and dry it out and use it for breadcrumbs when cooking. The stalks left from your brocolli crowns can be blended and used in homemade cream of brocolli soup, browning bananas for banana bread/muffins, instead of throwing out the single piece of bacon left over from breakfast use it in your child's sandwich for their school lunch (or your lunch), etc... Waste not, what not. Plus, you can save on outings and things to do by making cooking a family activity, teaching your children a valuable skill, by cooking together in the kitchen :)
4. Generics are often (there are some exceptions though) just as good, sometimes better, than name brand and are often cheaper. Also, buy produce that is in season- its cheaper and it makes those blueberries only sweeter when you do buy them!
5. Clip coupons and stick to your list. Not all coupons are for junk and just because you have a coupon doesn't mean you need to buy the item. I have gotten coupons for salad, meats, eggs, peanut butter, milk, fresh vegetables and fruit, cheese, butter, yogurt etc... So who ever says coupons are just for junk can kiss my ass. Also, pairing coupons with sales can allow you to stock up on things for super cheap, leaving you less to have to buy in between large shopping trips. I honestly cannot remember that last time I actually had to pay for toothpaste, toothbrushes, soap, shampoo or deoderant because I always pair the coupons to the sale items and stock up (you just cannot get stuck on one brand). Yes it takes a little extra time to cut and sort and compare sales but if you get a coupon organizer and make it a habit to clip your coupons once a week and immediately put them in your organizer it saves a lot of time. I look at what I actually need around my house and make a list of needs, then I look at the ads vs my coupons, and if I see ads for things I know I can stock up on by using my coupons I will ad those to my list below the need items. I take my list to the store and I stick to it- no extras. Do you really need those cookies? Do you really need that expensive prepackaged hummus or can you just make your own?
6. Drop cable/satelite. Reality is that most shows worth watching are on basic channels anyway and those cannels are free. If you still can't pick up channels, try netflix- no commercials and its 1/3 of the cost of even the cheaper cable packages. And if thats out of budget, check a movie out at the library or READ A BOOK, -its free!
7. Instead of going out, have a potluck and play games. What happen to the days when the neighbors would all get together and play pictionary? This way you save on a sitter and gas to go some where and the activity itself...
8. On the same note, swap turns with a friend for babysitting for each other.
9. Stop going out. Try having a date night at home. Tuck the kids in early draw up a bubble bath or set up a little picnic area with cheese and crackers and some cheap wine on the floor in your bedroom. You would be amazed as to how much fun you could have playing a boardgame or video game together.
10. Get the cheapest internet if you have to have internet. Yes it may be slow, but do you remember getting on the internet 15-20 years ago? The slowest now is still way faster than it was then.
11. Do you really need to be on the internet all the time? If your answer is no, and there is no reason workwise, drop internet on your phone as that usually plays a huge chunk in the total of your cell phone bill, plus are you so personally disconnected from people that you can only communicate via Facebook? Plus is absolutely rude and annoying when you are trying to have a face to face conversation with someone and they are constantly checking their phone for status updates... How many minutes do you actually use? If you are no where near the total you get (way under) decrease them, and if you are going over, increase them as you will pay less than you are in overage charges. And if you see a commercial from your carrier that is a better deal than what you have, call them on it. They will often either match or sometimes give you an even better deal for calling them on it. And if your whole house has cell phones (or at least the adults who need them) drop the unneccessary land line.
12. When dealing with auto, home or rental insurance- Call every company you can think of and ask what they would charge for each thing and how much they charge for bundling and then after you called around, call them again and tell them how much cheaper the competitor is willing to charge you and make them compete with one another to give you the better deal. The $50 it took off our mortgage payment every month for getting a better deal on home owners insurance and the few hundred dollars every 6 months we save in auto insurance is SO worth the couple of hours it took to call around.
13. There is absolutely nothing wrong with second hand or gently used. We have shopped thrift stores, garage sales, craigslist, ebay/amazon and even swaps with friends and neighbors to find the best deals on things like kids clothes, furniture, appliances, toys, books, etc.. and I can tell you that being able to barter things we no longer used for a couple of Nintendo DS's for my kids for Christmas last year was a great deal to my eyes. My kids were just grateful they got DS's and probably couldn't care less they were gently used or came in the original box; All they cared about was that they got the thing they asked all year for.
14. Following that note- make your kids "put it on their wish lists" when they tell you they want something they see on tv or in the store. Wait and see if they ask for it on more than one occassion and if so keep an eye out for it when it goes on sale and grabit for their birthday or Christmas or whatnot...
15. When you do go out- For example, as a family gift each year for the holidays, my in-laws renew our zoo membership for us- we go to the zoo a lot. Instead of buying food or drinks there, bring your own- plan a picnic in the park and pack your own lunches so you don't have to stop and buy food while you're out.
16. Just because your broke or tight on funds doesn't mean you have to be a hermit either. Many libraries now offer passes to science centers, museums, zoos, etc... that you can check out and they often post it when there are community carnivals, fairs, movies in the park, etc.. (most of which are free admission to get into). Check these out and save on paying to go somewhere. Or simply go to the public park. Its free and you are getting active and spending time with your family (saves on a gym membership too).
17. Learn how to "do it yourself" when fixing things. There is a tutorial for almost everything you could need on the internet or at the library. Change your own oil in your car. Fix some plumbing. Put new calking in a crack. Paint your house yourself. Do your own landscaping/lawn up keep.
18. Recycle- I know this may sound crazy but even if where you live they provide recycl pick up for you with your garbage, some things are worht recycling yourself. For example, we have a recycling pick up with our garbage, but we take are cans in ourself. We smash and stash them in a spot in the garage and every so often we take them to the recycling center ourself. They pay us a $1 and change per pound and that can add up. Last time we went we got $50. Some states I know will even give you as much as $0.05 a can and that adds up quick! Plus you get a more personal feeling of doing something positive for the environment.
19. Conserve electricity. I do not mean that you have to install solar panels on your roof (thats awesome if you are able to though) but despite all the rebates it still requires a lot of money you have to front and normal people just don't always have money to do something like that. Turn off lights and invest in power strips and solar lighting for your yard (you can get those little lights often time for 2 for $5 at the store for the simple little ones and they still work and look great). Instead of all the lights outside being on, invest in some solar lights, they don't use electricity and can not only light up your yard but create beautiful ambiance. Using power strips to turn off appliances you may not be able to reach to unplug helps eliminate "ghost power" as some call it (that clock on your toaster overn, the red light on your TV when its turned off, etc... are your appliances still using electricity when you are not using them) and you are paying for that every month.
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