Wondering what families do to control costs. Do not want to know your financial situations. dollars and cents. What do you do to control income versus expenses. Don't have to be too specific.
Also, spending habits which relate back to expenses: Examples: 1) Over the Air television in lieu of cable, satellite. 2) Value meals in lieu of kid's meals 3) phone cards in lieu of cell, 4) Using coupons, etc.
Spending Control List
There was a period of time when we cut up our credit cards and paid cash for a few months to determine a real budget. Then we stayed within that budget. Today we still pay cash for most of our items. Only use credit card for emergencies and pay it off at the end of month.
Since 1991 we have only bought used cars and paid cash. Not having car payments has relieved a lot of stress in our family.
We only allowed our kids to choose one sport to play or extracurricular activity. And the kids could not overlap a sport or activity like Boy Scouts. There had to be a break in between each activity. Usually about 30 days. The break was for Tina and me as well as the kids. All the registration fees and equipment adds up especially if a kid is a playing a sport like hockey, baseball and tennis. It was tough for a while because my kids and I had to find ways to entertain ourselves while the rest of the kids in the neighborhood were participating in a sport. However, we saved a lot of money and enjoyed the extra time together. Side note: Matt didn't play organized sports until he was 12. Today at 16 he has turned into quite an exceptional volleyball player. (Member of USA National Indoor Volleyball A-1 Camp for 16 and 15 year old & USA U-19 National Beach Training Team.) Kids have plenty of time to learn, play and excel at a sport or activity. I’ve witnessed many kids who started early and either burned themselves out or suffered a serious or career ending injury.
Below is a list of ways we cut down on our electricity bill:
Watch less tv
After washing clothes, we hang dry first then put in dryer.
The boys and I wore our clothes for a couple days. Sometimes slept in the same t-shirt we wore all day. Cuts down on laundry.
Manage time that kids spend on computer playing games.
We have no dishwasher in the house. We wash by hand.
We have no trash compactor.
While most of our neighbors (in southern California) used central air, we didn’t.
We don't collect DVD's or CD's. Turn radio on if we want to hear music.
Limit purchase of computer games.
With respect to food items, we have no sodas in the house and bought a water cooler. You can buy the cooler and 5 gallon bottles at Home Depot. When kids get thirsty, they will drink the water.
Buy food on sale and determine my menu around those items. For example, if the Kilbasa sausage is on sale I buy it and make a casserole with it. If bacon is on sale I buy it instead of pork sausage for breakfast. If shredded potatoes are on sale, I buy it instead of the O’Brien potatoes and vice versa. If Fruit Loops are on sale, I buy the boys Fruit Loops. Another day, Captain Crunch might be on sale.
For dates and dinner we go to restaurants during Happy Hour. Due to the economic downturn more restaurants have been promoting Happy Hour from 4:30 to 7:00 pm – drinks and food ½ off. Other specials include $5.00 all you can mexican buffet.
In-N-Out Burgers has the cheapest hamburger meal in our town $4.65 for burger, fries and soda.
Tina and I don’t spend a lot of money on clothes and shoes. We try to buy clothes from the sales rack at department stores. We also shop at Ross and Marshalls.
Our wardrobe is also half the size of most of our friends and neighbors. For years I only had three pairs of shoes (tennis, casual and dress) and one pair of sandals.
Stop going to movie theaters. We wait for movie we like to appear on On Demand and order it through cable.
For eight years we survived with one car. Tina and I walked a lot. Try not using one car for a couple months to see if you can do it. I realize for some people this is not an option but for most people it is.
Don’t attend professional sports events. Haven’t bought a ticket for a major (baseball, basketball, football) sporting event since 1995. Instead we attended college or high school games with the kids.
As far as purchase requests from our kids, we’ve said “no” a lot. This too has paid off in the long run. Today, our boys watch how they spend and understand the meaning of a budget and how to live within one’s means.
One More to Add
Winter is not that cold in California. However, during the evenings we didn't turn the central heat on or use heaters. We wore sweats and cuddled up in blankets.
don't go out
My wife and I don't go out for 2 main reasons...I can create a better meal that the majority of "chefs" out there and I can feed my family of 4 all week for what it costs to go out once. We eat pork, chicken, turkey or beef every night, its just a matter of shopping smart.also, if you smoke, its a good time to quit, and if you cut your alchahol/beer /wine consumption you can save a mint also..Use coupons when you can, grow a small garden at your house for letttuce, tomatoes, herbs etc.....and everything the other people have said......