** UPDATED 11/19/06 **
It's now been a month since my last update (see below). A lot has gone on in our home and I am truly dedicate to returning to my more frugal ways. I have a lot of new thoughts that I want to share with you and so I have put them all onto a new page. Please visit my 2007 Frugal Journey
page to ready about my new focus and goals for the year. All updates from 11/06-12/07 will be on that page.
** UPDATED 10/19/06 **
I have varied between living a life of extreme frugality and over-indulging extravagance. I have to say that I am more happy when I am really watching our money closely and keeping us out of debt.
I had previously written, "As of July 2006, we have no credit card debt and only two loans - a car and our mortgage. We paid off one car in June 2006 and will have the 2nd car paid off by the end of 2006. At that time, we'll take the two payments and roll them over into two different accounts. First, we'll increase what we are investing in our 401(k) and then we'll put the rest in an account for the car we'll be buying once our daughter is old enough to drive. We hope to pay cash for that car - something we've never done before!". However, it's funny how things can change in just three months!
My husband did a little fighting with our medical insurance company and we were able to get them to cover a portion of the cost for new digital hearing aids for our daughter. However, we didn't want to dive into savings to pay off the rest, so we used the credit card for that portion. Our goal now is to have the credit card paid off in January 2007. After that, we are going to work to save up three month's worth of salary and then work on paying off my car. Only after that will be work on a car fund for the kids. The 401(k) does need to be increased, but that may not happen for a year now. I know they say to pay yourself first, but we want to get our head above water before we do that.
We have tried to find a happy medium of wants vs. needs. At this time, we have cell phones, but we have agreed that we'll never again have cell phone service that requires a contract. We were going to cancel our cell phone service this past summer, and we are still considering it, but I think we just like the comfort of knowing that we can be reached in emergencies. Other "wants" that we have include cable TV and internet service. Both of these things are not needed exactly, but we do enjoy them. My husband and I like to watch movies, but we do not see many in the theaters. I wrote in July, "Instead, we have joined Blockbuster online which only costs us $19.70/month for unlimited movies. Some months we watch more than others, but it is a true money and timesaver. Our kids also get to request their favorite movies and so we get a lot of use out of our membership. As of October 2006, we have cancelled our membership. Summer is over, homeschooling has begun and we were not finding the time to watch the movies we had rented. Instead, we are taking that $20 allotment and buying movies at the local Blockbuster when they are 4 for $20. That way we will be growing an inventory of good movies to watch instead of renting and never owning any. When we get tired of them, we can trade them in at the local store and get credit equal to about what we paid for the movie to begin with!
We are not shoppers and don't go to the mall just to see what's there. What we have found is that when we browse, we end up buying things we really didn't need. Impulse buying is not a good thing and can be curbed by just not going to the store unless you need to. In addition, when I go to the store, I always have a list of what I'm needing. If it's not on the list, it usually doesn't go in the cart. I keep stock of items we are needing and that's what gets bought! Grocery shopping doesn't have to be expensive. I only buy those items that are on sale and I try to combine those items with coupons, if possible. There is a service online that will help you save money when buying groceries called The Grocery Game - check it out to see if it will help you!
There are so many ways to save money, but it all depends upon what your goals are and what you are willing to give up. My family will not give up their cable TV, but we don't care about wearing the latest fashions! I do work part-time from home and that does allow us to buy some of the "extras" that make life nice, but if my job ended tomorrow we would be ok. I think the key to our happiness is to NOT live beyond our means. It just isn't worth it to us to go into debt to have more material items than we truly need anyway.
It is my hope that you will find something useful here on my site!
I currently enjoy the privilege of being able to stay at home
to homeschool my children and I am always striving to be
the best caretaker for my precious family.
"I can do all things through Christ, who strengthens me."
~ Philippians 4:13 ~
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All Rights Reserved. © 2006.
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