Do you need to save some money for a big purchase or recover from a large bill you just paid? Perhaps you just want to gain better control of your spending and get into serious frugal living. Having a frugal No Splurge Month could be the answer for you.
A frugal No Splurge Month is when you designate a month where you won’t spend any money on anything that isn’t absolutely essential. There is no spending money on anything you don’t legitimately need. When done as a family, this is a great way to save some money and learn more about what you can really live without.
Before you decide to stop spending unnecessary money, you will have to make a plan. Otherwise, old habits will probably take over and your frugal No Splurge Month can easily be derailed. Determine that you WANT to get into frugal living.
First of all, pick a month that will realistically work for you and your family to not splurge. You’ll probably want to avoid months where you are celebrating a major holiday or taking a vacation. Also, plan it for a month when you won’t have unexpected genuine needs, like when the kids go back to school.
When you have your month selected, plan how you will handle specific situations that will arise during that month. For example, if there is a child’s birthday party in the month you’re deciding not to splurge, decide ahead of time how you will handle that. That will help you stick to your no-splurging plan.
It might also help for you to set a budget for the month. Better budgeting will help you stay focused in your spending. You may want to put away your credit cards during this time too. Having your credit cards close at hand makes it easy to follow to urge to splurge when it strikes.
In your frugal living planning, be realistic while creating your better budgeting plan. Acknowledge that unexpected yet legitimate expenses may arise, no matter how well you plan. You may want to set aside a certain amount cash to cover those. You can still keep costs down by putting only a small amount of money aside, and any surprise expenses have to come from that amount.
Before you start your frugal No Splurge Month, it’s essential to talk about it as a family. With everyone on board, it will be easier to avoid needless spending. Decide as a family what you are allowed to spend money on. This may be a good time to talk about the difference between needs and wants. If you explain to everyone what you’re doing, and the purpose behind it, they will be more helpful and not ask for things that you haven’t agreed on beforehand. Kids may even view a frugal No Splurge Month as a fun challenge and hold you accountable for your own money spending.
Having a frugal No Splurge Month is a great way to get spending money under control and find out what you really can live without. By planning ahead and involving the whole family, frugal living can be a success for everyone involved.
If you’re a mom with a family to care for, you already know how much of your budget gets spent on food and cooking. In fact, this may be one of the biggest items in your budget. So, when it’s time to cut back on expenses, the kitchen is the first place many moms look to save money. Here are some kitchen tips to help frugal moms keep their budgets under control.
1. Don’t let food go bad. If you’re like most families, when you clean out your fridge and your cupboards, you probably end up throwing a lot of food away. It might be past its expiry date or already transforming into a different life form. This is a waste of food and money and it is easy to avoid.
If you keep your fridge and cupboards organized, you should be able to easily see what you have in stock. That will remind you to use it before it goes bad. As well, review expiry dates regularly. Then you can remember to use the item before it expires.
2. Don’t buy too much food. Some grocery stores will offer you discounts if you buy in bulk. However, that’s only a good deal if you’re actually going to use all the food you purchase. It is a common mistake to buy too much because it looks like you’re saving a lot of money. In the long run, you may be spending more than you need to on food you won’t use.
3. Make your own condiments. Condiments like salad dressings, seasonings, and sauces can easily be made at home. That can cut a lot out of your grocery bill. Look for recipes for dressings, salsas, chilli sauces, vinegar, marinades, and so on. They will probably be a lot healthier for you than store-bought ones as well.
4. Cook from scratch. There are many convenience items available in the grocery store. However, you can cut down on expenses by cooking from scratch. Instead of relying on high-priced convenience items to save you time, you can manage your time in the kitchen better by planning ahead and cooking more than one meal at a time.
5. Eat what is in season. You can save money by choosing fruits and vegetables that are in season. They will be lower priced than other, off season, items. If you’re not sure what is in season, you can do some research or ask your grocer.
6. Eat what is grown locally. Because locally grown foods don’t have to be shipped, they cost less once they reach the store. You can even buy directly from local growers at farmers markets.
7. Try cooking meatless or vegetarian meals. Meats are often very expensive. One way to save money is by trying to cook more meatless meals. If your family isn’t ready to go vegetarian, you can start by having a meatless night once a week. Even that small step will cut down on your kitchen spending.
The kitchen is full of opportunities to cut back and save money. Following the above tips will help frugal moms keep their kitchen spending under control.
Families need to make money stretch as far as it possibly can. This can mean doing without unnecessary purchases, or budgeting for monthly expenses. If you find yourself struggling each month or living paycheck to paycheck, it may be time to give your family a money makeover. Giving your family a money makeover means finding the best deals for your money to make it stretch further. Here are some tips that will yield an effective money makeover.
* Find better deals on insurance policies. If you feel like you are paying too much for car insurance or health insurance, do some comparison shopping. Oftentimes people do not think that they can save, so they do not look for better deals.
Being comfortable with your current insurance agent is also a factor as to why people do not shop elsewhere. If you find a better deal with another insurance company, check with your current insurance holder and see if they will match the price. In a competitive market such as today’s, people are more likely to match prices to keep the business.
* If you do not already have a savings plan, it is time to start thinking about one. It’s a good idea to have a savings account that will sustain the household for three to six months if the unthinkable were to happen. You can build up your savings over time by putting a little of your paycheck away each pay period. Once you have your emergency fund, then you can focus on building upon that savings even more.
* Having a retirement plan is important because it is not feasible to work until death. Social security programs are running out of funds and may not be around when it comes time for you to retire. This is why it is especially important to plan ahead. Look into IRAs or other interest-yielding accounts to build up enough money to retire on. The sooner you start building up your retirement, the better.
You and your family stand to gain a lot by giving yourselves a money makeover. By shopping around for better insurance policies and building up a savings account for retirement and family emergencies, you are helping to ensure that your family is prepared for the future. Implement money-saving methods where possible and watch your nest egg grow.
Half Price Living: Secrets on Living Well on One Income is a book for couples exploring the pros and cons of staying home with the kids and going down from two to one income. In the first part of the book it explores, in great detail, things you have to take into consideration before making your choice of whether to leave paid employment to stay at home. The second part of the book provides you with lots of practical ways and tips to save money and live well on one income. The author, Ellie Kay, a family financial expert, talks you through specific cost cutting strategies, such as coupon cutting, comparison shopping, cutting food bills in half, cutting debts and clothing costs, saving money on vacations.
I like the fact that the book comes with charts, worksheets and plans to work from to explore the feasibility of staying at home and living on one income. Also included are real life stories, which make this book a very interesting and informative read.
Overall, the book is a great guide for any couple trying to figure out if they can live on one income and make it work.
Frugal Tips to Shrink Your Grocery Bill (Plus Recipes)
Frugal Tips to Shrink Your Grocery Bill (Plus Recipes!) offers helpful money saving tips that will cut your grocery bill. Who doesn’t want to and need to save money in these hard financial times? Find out how to save money on groceries with this frugal tips ebook. Also included are some delicious frugal recipes.
Financial Emergency? Quick Cuts to Put More Money in Your Pocket
Batten down the hatches! If you’ve just suffered a reduction in income, gotten a huge medical bill, or otherwise have a desperate need to tighten the financial belt immediately, here are some frugal tips and money saving tips that can give you immediate relief to your financial problems.
If you’re looking for ways to just get a little extra spending money, these suggestions may seem a bit harsh, even painful. But, if you’re facing tough economic times, these cuts could be your first line of defense to stop the hemorrhage of funds from your budget. These are changes you can make TODAY to add to your bottom line and save your financial well-being fast:.
Downgrade or cancel your cable and/or Netflix subscription. It’s not going to save you from going bankrupt, but canceling your monthly cable bill or DVD subscription plan can help put groceries on the table. While you’re at it, take a look at any other monthly recurring charges for entertainment, such as magazines, golf club memberships, and any other charges simply for fun.
Cancel your gym membership. Wait. I know what you’re saying; “Doesn’t exercise help with stress management?” Well, yes it does. But if you’re stressed about finances, adding to that stress isn’t going to help. Consider instead of a gym membership taking up a regular walking, running, or other home exercise routine. These are simple fitness programs and are perfect for combating stress – and they don’t require a membership fee!
Cancel your home phone line and extra cell phone lines for the kids. First, kids don’t NEED their own cell phones. You may be wondering why I’m suggesting that you cancel your home phone instead of your main cell phone. Here’s why: Most cell phone plans have cancellation fees that far outweigh the savings you’d get from canceling your service. Not so with your home phone. Go ahead and cancel your home phone and rely on your cell only. When you think about it, when was the last time you picked up the home phone? Chances are you use your cell most of the time anyway. Even having a stripped down land line of $20 a month adds up to $240 a year. Can you think of something you could buy for $240?
Increase the deductible on your auto insurance. One phone call to your insurance agent and you can save a chunk of change – sometimes in the form of a rebate if you’ve pre-paid your insurance for the quarter or year. When you add up the difference between the cost of a repair and the premium you’re being charged to cover a low deductible, you’ll most likely see that you can quickly save the difference. In short, you’re paying for that possible repair month after month in the form of the low deductible. Raise the deductible and put the savings aside in your emergency fund. You’ll come out ahead every time.
Reduce your childcare hours. Childcare can be one of the biggest line items in your budget outside of housing and car payments. In fact, it can easily out-pace your car payments. Cutting your childcare hours even by a few afternoons a week can make a huge impact on your budget. If you’ve lost your job, you most likely will assume these extra hours, but if you still need coverage, work out a swap with friends or family members for a short time.
If you did each one of these items this month, you would very quickly see a reduction in your expenses. They say “Desperate times call for desperate measures”. Take these steps this month and maybe next month won’t feel so desperate.
Most of us feel like we live pretty frugal lives. We don’t imagine ourselves as big spenders – spending money on all the accouterments like Cristal Champagne, Jaguar convertibles, and 10,000 square-foot mansions. But our money trickles out of our pockets anyway, dollar-by-dollar, day-after-day, just buying the essentials.
With just a little more attention to where your cash is going, you can save around $500 this month without feeling the pain of deprivation. These suggestions will help you maintain the lifestyle you have, without making you give up those tiny little luxuries you enjoy. You’ll even enjoy some surprising perks! Let’s see how this works:
Shop your refrigerator
Run out of milk? Need a couple more slices of bread to make a sandwich? Instead of running out to the store (where you’ll certainly pick up more than just the needed one or two items), put off that shopping trip and dig into your refrigerator and cupboards instead. Get creative: Make a sandwich with English muffins or bagels, or create a wrap with a tortilla. Whip up a salad and put your tuna on top. Skip the milk in your morning coffee and save a few pennies, as well as a few calories. By delaying that trip to the store a day or more, you’ll save yourself big bucks at the end of the month. Avoid the store… avoid the impulse shopping. The bonus? Food doesn’t get wasted, spoiled, or forgotten when you’re digging deep into your refrigerator and pantry.
Go for the smallest size
Whether you’re ordering fries to go with your Big Mac, or ordering your favorite cafe latte, choose the smallest option. Sure, you might get a better deal by super-sizing it and the temptation is to get the most for your money. But, in the end, you are taking more cash out of your pocket when you buy a bigger size. The bonus? Think of the calories you’ll avoid!
Have a potluck instead of going out with friends
Instead of heading to your favorite watering hole to watch Monday Night Football, host everyone at your house, and divvy up the responsibility for drinks, main dishes, desserts, and snacks. No overpriced bar tabs, no tipping the waiter – just a lot of homespun fun. The bonus? New recipes to share and share alike!
Change in a jar
At the end of every day, empty your pockets, wallet, and the bottom of your purse of all your loose change, and place it in a glass jar. Those nickels and dimes add up fast! The bonus? Spending “found” money on something special is what this is all about. You can save up enough for a trip that you wouldn’t have thought about taking before – even Hawaii! I’m here to tell you that it can, and has, been done.
Go to the library
If you haven’t stopped by your local library lately, you may be surprised. You can check out the latest DVDs, attend networking events, and scoop up New York Times bestsellers – or hang out and read the latest issue of Sports Illustrated – all for free! You can save on movie rentals, book purchases, and more. The bonus? Meeting other frugal-minded people just like you with similar interests. The public library is the ultimate “social networking”.
Drink water
If you’re going out to eat, some of the highest-margin items on the menu are the drinks, whether soft or hard. If you’re eating at home, opting for water instead of soda or alcohol will still save you big. Opt for the ol’ H2O and keep your money in your pocket. The bonus? Your skin, liver, stomach, cholesterol, weight, and general fitness will thank you!
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Frugal Tips to Shrink Your Grocery Bill Ebook
Frugal Tips to Shrink Your Grocery Bill (Plus Recipes!) offers helpful money saving tips that will cut your grocery bill. Who doesn’t want to and need to save money in these hard financial times? Find out how to save money on groceries with this frugal tips ebook. Also included are some delicious frugal recipes.
