Since we are a single income family, out of necessity, I've taken stretching a penny to a whole new level. Some websites on saving money have given me some wonderful tips. Others....not so much. For example, waiting until the Gap is having a 30% off sale IS NOT being frugal! I've heard it once said that if you take care of the pennies, the dollars take care of themselves. Too true my friend too true. So for all of you out there that need to learn how to watch your pennies, I'm going to give you some of my tips.
1. Seriously avoid restaurants and coffee shops. You've likely heard this a thousand times over $20 a week on coffee and lunches times 52 weeks is $1040! You could go on a cruise once a year instead. If your coworker or friend insists, pack two lunches - one for them and one for you. You'd still be WAAAAY ahead financially.
2. Learn to cut hair. Yes you CAN do it!!! A guy's hair cut is not that hard. Youtube is a great (FREE) teacher. Practice on your young son's head before tackling your hubby's h$ead if it'll make you feel better. Money saved? $20/month
3. Recognize the amount of clothing you have vs. what you really need. If you were packing for a week away, what would you bring? Other then specialty items - snowsuits etc, whatever you would pack in that suitcase is really all you need. There has to be a change in outlook for true saving to begin.
4. $1.00 for a cake mix is tooooo much! You still have to add the egg and oil and those are the expensive ingredients. The flour, sugar and baking soda is worth all of approx $0.15 and you're only saving yourself 5 minutes. Rethink the value all premades.
5. Oddly enough decluttering is great for saving money. The less you have the less you seem to need. Mess begets mess, stuff begets more stuff. The only way to true financial freedom is to learn that YOU DON'T NEED IT. ("it" being whatever you are drawn to that doesn't actually keep you alive.
6. If you drink wine, make it yourself. If you go in with a friend or two and split up the batches you each make at a u-brew store, it's a blast and save an incredible amount of money.
7. Spending some money saves you a lot of money sometimes. Regularly,get the car tuned up, your teeth checked, furnace filters changed, buy proper running shoes. The problems that will arise from not maintaining the things you own will cost you more in the long run.
8. Don't rent movies. You'd be amazed at what you get at the library. And except for school curriculum or bible studies, I only buy books from yardsales if they are under 50 cents each. How often do you really reread a book? Think library, library, library.
9. Believe it or not, all your son needs in the way of toys is a bike, a ball, and some blocks. Oh and the occasional big cardboard box. Our society is choking itself on a mirade of toys! Stop the madness and watch your child's imagination soar.
10. Scale back on birthday parties. My son came home from a party not that long ago with a loot bag easily worth $20! Too bad I know that the family is swimming in debt. For a loot bag I bake huge cookes suckers and wrap them in cello. If we make a craft during the party, that's part of the loot bag. I also refuse to try and keep up with the Jones in the gift department too cuz the Jones are in debt and I refuse to follow them there.
I have started to try and teach my children the art of money smarts. I don't allow them to impulse buy period and I don't let them buy junk from the dollar store. $1 for junk is $1 wasted.
I'd love for you to comment with your own helpful tips. Let's all get out of the money spending madness together.
$4 for a jar of jam? You could make it for a tenth of that price.
ReplyDelete$3 for 4 tomatoes? You can buy a tomato plant for that price and get a season's worth (+ some for freezing) for that, or buy a packet of seeds and you can get 10x more. Plus, it gets you out in nature, doing real labour, watching growth is fun and educational, and it helps friendships to host and serve delicious home grown meals.
We are all 'students' of something, so go ahead and claim student discounts at the bulk barn - Wednesdays, 10%. You have to get a student card that doesn't display an expiry date.
I liked your statement "YOU DON'T NEED IT", except by "IT" I thought you meant information technology. Keeping up with gadgets is a huge waste of money. And ditch the cell phone! If you've got high speed, Vonage is cheaper than Bell or Rogers, or use Google Voice or other even cheaper alternatives. Heck, split the cost of a high speed connection with your neighbour using wireless.
Open the windows and let the breeze blow.
Go backcountry camping instead of car camping for 1/3 the price.
Scooter or motorcycle instead of cars. Or better yet, bicycle or walk.
Vegetable oil instead of butter in recipes.
Perennials are so cost effective. Trade the splittings with friends and neighbours instead of buying. You could even sell some splittings, if you like.