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If you want to save money.
You need to take a hard look at where you are spending your money. And be honest even about the small purchases
Before we said enough is enough and started our debt reduction plan we ate out several times a week. We went on holidays once or twice a year.
I would hit up the coffee shop for a latte almost daily. We let our life depict our spending.
Our wants overtook our needs. We simply were not watching our spending.
It takes a big event to cause things to change.
After my husband’s employment changed and his company downsized we took a long hard look at our spending.
Nothing makes you assess things better than a sudden loss of income.
As a new family we took a serious look at our finances and thought about where we wanted to be in the future.
Great things come in small packages.
As the resident book worm and homeschool Mom I researched money and debt and found The Total Money Makeover by Dave Ramsey.
This book changed our lives for the better. My husband and I even took Financial Peace University.
Now we budget and make a plan for our money. We have stopped doing things in order to save money.
Related Posts:
- 21 Things We Stopped Doing To Save Money
- The Best Ways To Save Money
- 7 Strategies To Help You Save Money On Food
7 Things We Stopped Doing To Save Money:
1. We stopped eating out so much.
When you add up the cost of eating out two or three times a week for a family of three the cost gets up there.
So I started meal planning and cooking at home more. I also started using my freezer more to store meals and basics.
Learn over 50 things you can freeze to save money.
2. I stopped buying specialty (gluten free) baked goods.
Our son is Celiac so we were buying gluten free, dairy free muffins for him which was fine.
But when the muffins and the other baked goods got a price increase it wasn’t fine.
So I researched and we taste tested many recipes. We have found some great recipes in these cookbooks.
3. I stopped my daily coffee drive thru fix.
When you added it up I was spending $25 -$30 on gourmet coffee a week.
So now I get a latte everyday …. at home.
We purchased a milk frother and we have this amazing coffee machine that makes great coffee so if I want to I can have more than one latte a day from home.
We also invested in great travel mugs so we can have our coffee on the go.
4. We stopped trying to keep up.
Currently we are in the process of saving for a home.
Bigger is better right? No!
Honestly, I would be happy if the home was 2-3 bedrooms and had a large yard so we can grow our own food and have room to play.
My husband, his only request of the home is a garage and that we are happy.
You don’t always need what everyone else wants or thinks you need. Figure out what you want and what your needs are and work within your budget.
5. We stopped letting our life depict our spending.
We learned to budget. We learned to communicate more about personal finance and our goals. Now it’s more about what we need than what we want.
6. I learned to say “NO”.
This one may seem like it is relatively easy. But small things add up. You buy your child a toy car here, you go out for dinner there, those new shoes are only….
The little stuff adds up.
7. We stopped going on holidays as often.
It is hard to “splurge” on holiday expenses when you start watching your money. Can you really validate spending $250 a night on a hotel room?
We have opted for staycations and no spend weekends.
I think the best vacation, weekend away we have had this year was to a little cabin visiting family and friends.
Hiking, visiting local markets, getting away from the everyday. Sitting on the patio watching the sunset and visiting. Quality time with family and friends.
Keys to saving money.
Cutting back on your regular spending. Shopping sales, using coupons, truly looking at what you are spending your money on.
Using a budget, communicating with your family about your financial needs. Learning to use your money wisely with a frugal mindset will help you save money.
Take a look at where you are spending your money. Is there something or somewhere you can cut back on to save money?
Have an amazing day,
Cynthia
Saving & Simplicity
