Money-saving ideas?

Question

Since I quit my job to stay home with the kids and my husband is the only person bringing in any income...our budget has become rather tight. Any ideas on how we could save money? Anything from getting our electric bill lower to buying groceries would be appreciated!!

Answer 1

Regarding your utilities: Some electric companies, gas companies and water allow you to go on "budget" or "levelized billing" so that you are billed the same each month for the year. i.e., instead of getting that whopper of a bill in July and August for $425 - you pay the equalized bill (say $144) all year long.
As a retiree, we have found it very helpful in managing our limited budget to "know" what our utilities are going to be each month.

Save on FOOD. Eating out and fast food seem to be the real budget buster for most young couples. Check out www.foodnetwork.com or www.recipezaar.com for many, many recipies. Make sure you stay stocked up on the basic staples (flour, sugar, corn meal, eggs, butter, bread, brown sugar, oatmeal, grits, rice, noodles, and canned cream of _____soups, and shredded cheese.) With these on hand, you can always rustle up a meal. And, don't forget that 99 cent package of dried beans. (navy beans, great northerns, or black beans or red beans)
(Black beans and rice is a healthy and cheap meal).
Learn how to make "stir fried rice" also. You can always dice up that last pork chop or chicken breast, stir fry it with some onion and minced garlic, add a few of those left over vegetables, season with a little soy sauce - add cooked rice and an egg at the last minute. Great way to feed hungry boys!

When one son was in college and our $$ was extremely tight
we discovered creative ways to stretch 5 lbs of ground beef for a week's worth of meals: meatloaf, spagetti, chili, tacos, hamburger helper. Save leftover veggies in a container in the freezer labeled "For Soup". When the container gets full - brown some of that ground beef (1/2 lb or so), with onions, add a can or two of tomatoes and voila -- you've got delicious homemade vegetable soup. Serve with cornbread and you've given your family a healthy delicious meal.

The same goes for chicken. You'd be surprised at how many ways you can use chicken. Casseroles really stretch the budget.

Stop with the bought sugary cereals at $4 per box or pop-tarts at $2 box - and serve the kids oatmeal, eggs and grits, or pancakes, french toast. You can also make your own syrup from a little butter and brown sugar and water boiled on the stove. (That's what the old folks used to do.)

Shop the sales specials each week from your local super market and don't be a slave to coupons. Most of the store brands are actually manufactured by the main companies anyway. Stock up on toilet paper, paper towels and laundry detergent when they run the specials. Keep lots of frozen veggies in the freezer. (Our Kroger runs 10 items for $10 quite often - that's when I stock up on the veggies.)You can always have a veggie meal with biscuits or cornbread for dinner.

I have found that the only way to save money is to stop spending. Stay out of the stores except for the major necessities. Impulse buying is a real budget buster.

Manage your home as if it were your own little business - your own little "Bed and Breakfast". Good luck. You CAN do this!

Answer 2

First, you have to figure out how much income you will have. Second, you make a list of all monthly expenses for 3 months. Don't forget to include income, SS, state taxes as expenses. Categorize your expenses e.g. Auto for Fuel, Insurance, Maintenance. Multiply by 4 for annual expenses. Sort your expenses by dollar amount to show the largest expenses first. Most of the time, taxes will be your biggest expense. If you got a refund greater than $1000, take more allowances on your W-4 form to reduce the amount of taxes taken out of your paycheck. Each allowance gets you about $800 more per year. I would give more info, but I don't know gross income, # of kids, if you own a house, etc.

Answer 3

Wear sweaters. Shop at Goodwill. Avoid driving whenever possible. Stay home or walk or bike when you can. Eat more home-cooked meals. Entertain yourselves at home. (Basically, staying home makes many things automatically very cheap). Put plastic over the windows to save heat loss.

It actually takes very little money to make a family function. I know, we did it for about 10 years. It's when you feel the need to drive everywhere, to be entertained, and to eat out at restaurants that life gets expensive. When I started teaching my first year or two, it seemed like we were rich compared to having nearly no money at all. I was teaching and my wife was home with our two small children. Today we own 4 cars and two properties and probably make 4 times what we did then. But......we're not really one iota happier, we just enjoy more creature comforts and conveniences. It really hasn't substantively made our lives "better", though, in many ways.
Best of luck to you. Feel free to write me for advice on Yahoo! messenger or by email. Either way it's
fortitudinousskeptic

Answer 4

A good source of resources on pretty much everything you need to know regarding saving money can be found at http://www.nationwidebillrelief.com They have a lot of ways to lower your monthly utilities, bills in addition to that they offer free budgeting worksheets, calculators, money saving articles and more. Good luck and enjoy your family time, I respect what you are doing and in the end I belive you will be very happy you are able to spend this valuable time with your family.

Answer 5

Your local library will have various books with money-saving tips as well as alot of the archives of magazines like "Woman's Day" and "Family Circle." All in all, the library itself is a great way to save on books, magazines, videos, computer software and all kinds of entertainment and media. I have found books like the Tightwad Gazette and other books by Mary Hunt that will help you with well known and not so well known ways to help get more for your money. Don't overlook ways to reduce your taxes through your own part time profitable or not profitable home business, 401K contributions, educational credits, etc.

Answer 6

plant your own food, use the leftover from your garbage for manure, a chilli may be harvested every 3 days for 4 month , if the water is expensive, dig a weel, to cook on a stone, reflect the sun in one spot, a 2m sq of sun in 2 o clock will fry water in half an hour, vegetables are cheap, just drink milk to compensate the rest of the nutrient

Answer 7

make a budget for your family and stick to it..
before shopping for groceries, review what you have at home and make up menus including what you have on hand,,,then make a list to purchase to complete these meals...
watch for sales on items you use at home, supplies, food items, clothes, shoes, etc...and buy only what you will use and need...cut down on take out foods and cook at home, even for outings...... buy oatmeal instead of cold cereals

for christmas have the kids make homemade items to give as gifts, and parents attempt the same....
buy clothes for family at garage sales, second hand stores,,,,,the money saved from that use for new undergarments, shoes, socks, etc...
gift giving to friends and token gifts for work can be homemade food gifts, hamdmade items, crafts painting by oil, etc......

Answer 8

visit DaveRamsey.com to change how you look at your bills and debts. ideas on budgets and reassessing income and outgo

Answer 9

The link below has all kinds of ways to stretch your dollars.