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Showing posts with label streching your money. Show all posts
Showing posts with label streching your money. Show all posts

Thursday, January 29, 2009

Being Cents-able

I purchased a used copy of Your Money or Your Life by Dominguez and Robin and it became one of the many books waiting to be read in my room. Frugality has been a large part of my adulthood out of necessity. This book came up in Internet reading I did on that subject and since I was having a very bad year at work and longed to quit, the notion of being able to live on less was enticing. Summer, home repairs, and a sick mother sidetracked me.

At the end of the summer, as we watched financial institutions fail and the stock market fall like a lead brick, we learned that there was a possibility of my husband’s job ending and our income being drastically cut. My quitting was no longer an option, but the urgency to stretch our money was renewed. After some digging through the stacks of books in my bedroom I found Your Money or Your Life and with highlighter in hand I began to read.

The book is not about creating a budget. It is about developing a new appreciation for your time, life energy, and knowledge about where that and your money goes. I am still in the baby steps of financial independence and living the sort of life my heart yearns for, but on the 8th of January I paid off Christmas and today I put $100 into savings.

I must note that I am the one reading the book and attempting to change my life. My husband is frugal by nature, makes a great deal more money than I and we have different spheres of financial responsibility. I say this to point out that my finances amount to my salary and the drizzles and drabs of money I get each monthfrom other places. My resources are responsible for food for six, sundries for three, and clothing for two along with gifts, a YMCA membership, music lessons for my grandson and a tutuor for my Special Needs daughter. That said, if you are interested in my financial journey, read on.

Monday, January 26, 2009

Making Do in Hard Times/Anytime

I get more junk email than snail mail. I’m not always sure where it comes from. A few weeks ago I started receiving emails from BeatTheRecession.com, probably because I snoop around websites devoted to frugality. Today I received one from the above outfit with the “tip” titled “Coupons—not just for your grandmother.” Is this a news flash or am I just very old? Well, I am a grandmother. My age not withstanding, I have always clipped coupons.

If stretching your money is of interest to you, read more on The View From My Broom.

Friday, October 10, 2008

Time for a Homestead Mindset

Making Do in Hard Times
As the United States slips into a deepening recession with the potential to become a depression Americans are looking for ways to stretch their budget for everyday expenses and the coming holidays. Our family is holding its breath as we wait for Lockheed Martin to announce whether or not they will be closing Seattle Flight Service where my husband works. He could be out of a job at the end of the month, the end of this year or the end of the next one.

I have been searching the Internet for ideas on making the most of our grocery dollars, the only segment of our budget that I feel I truly have control over. Whether it is a well stocked pantry, recipes that make large dinners for few dollars, or homemade household cleaning products I’m interested in learning what others are doing to keep their money in their wallets.

An interesting website I’ve found is The Dollar Stretcher. There are articles not just on shopping, but borrowing money, selling your house, getting a mortgage. There are blogs on the site where people share their experiences and tips.

Since the oil crisis of the 1970s I have believed that the best market in which to invest during a shaky economy is the corner market. Putting my money in toilet paper seems to make more sense than giving it to the bank or Wall Street. On the Dollar Stretcher website I found two articles that speak to this idea.

“Donna,” of the Dollar Stretcher blog refers to keeping a six to eight month pantry “The Homestead Mindset Anywhere.” One needn’t live on a farm in a rural area to benefit from the money saved by planning ahead and keeping a well stocked larder. Even if you live in a small urban home or apartment you can get creative regarding where to store extra food and dry goods. It could be under the bed, in the garage or basement (depending on whether or not the items being stored are moisture resistant), or the top shelf of the coat closet. We have a small pantry the builder put in our kitchen when built, but to that we’ve added a closet in the family room and shelving in the garage. Another interest site I discovered is The Left Over Queen blog site run by a freelance food and travel writer. There are ideas about kitchen organization and pantry creation worth checking out.

A well stocked pantry is a safety blanket that the Mormon Church has long understood. In these times we can all be Economic Mormons. I found a link to a site that calculates what your family would need for a year for nonperishables based on the number and ages of the members of your family. There are items our family would not probably eat in the amounts suggested and I doubt if we could find space for a year’s worth, but the site is interesting because it gives you an idea of amounts of things like cooking oil, peanut butter, dry milk, etc.

The Mormon calculator does not calculate frozen items such as meat which will depend on lifestyle and ability to store not to mention the possibility of an extended power outage although many homeowner’s insurance policies will pay for the loss of food during a natural disaster. Last year Southwest Washington was slammed by a storm that left folks in the dark from three to seven days and the State of Washington gave $168 per person for loss of food.

Okay, you’ve located a place or places to put your stores. How do you go about stocking up? What you don’t do is to take the numbers from the LDS calculator and run to the store. Here’s a list of rules from Lee Ann Sontheimer Murphy of the Dollar Stretcher website:

Rule #1: Buy only what the family will use. Filling a pantry with items that family members may not like or things that may never be used defeats the purpose of building a stockpile of food.

Rule#2: Stock up with sale items. Don't rush out to buy six cans of spaghetti sauce or four boxes of macaroni and cheese. Wait for a sale. Most supermarkets put out a weekly sale ad so watch for favorite products and brands to go on sale. In addition, some markets offer in-store savings on select items so be a savvy shopper and search the shelves for bargains. When the spaghetti sauce is at a low sale price, that is the time to stock up with several to store on the shelf.

Rule #3: Use coupons. Many Sunday newspapers offer coupon inserts and other coupons are in many publications. Online sites like Coupon Cabin, Cool Savings.com, and Coupon Craze can also provide coupons that match products. Often, manufacturers put out coupon savings at about the same time as their products go on sale at the supermarket, providing a chance for even greater savings. Better yet, find a supermarket that offers double coupons or even triple coupon events to increase the savings!

Rule #4: Prepare the space for your pantry. Whether it is an empty kitchen cabinet, a freestanding shelf, a hutch, or basement shelves, utilize any open space for food storage. My basement came equipped with many shelves and bonus kitchen cabinets, installed by a former owner. Remember that any space used as a pantry should be cool and dry. Most garages and outside storage buildings get too hot or cold to serve as safe storage space for food.

Rule #5: Once you have a pantry established, remember to rotate. Put the newest items in the back and use the first one in line. This is easier to do if you organize the food on the pantry shelves, like item with like item. I keep condiments like ketchup, mustard, and salad dressings together with each item in a row of its own.

Rule #6: Don't buy more than you can ever use. Once into the routine of planning and stocking a pantry, it is easy to get carried away, but don't buy more than can be used within a reasonable amount of time. Keep track of use-by dates on products, plan ahead, and if more than three squeeze bottles of mustard won't be used by that time, don't buy more.

A well stocked pantry is built over time by purchasing in bulk when you find a good deal on items. Oh, and the spaghetti sauce? Fred Meyer has Hunt’s for a dollar a can right now, so if your family likes spaghetti you might want to start with the spaghetti sauce after all.

Friday, September 19, 2008

WASH YOUR WIPERS



Making Do in Hard Times

This morning on the way to work through the mist I turned on the windshield wipers I was reminded that we haven’t had rain in a while. Our cars and streets are dirty and the wipers have been hibernating. The wipers on my car only smeared the mist across the windshield. This brought to mind a tip from my mother years ago, clean your windshield wipers with vinegar before you head for the auto parts store.

Like everything else these days, windshield wipers don’t seem to last as long as they did in the ‘50s and ‘60s, but by keeping yours clean, you may extend their life.