Part of living according to God’s Word, is using what He gives us wisely.
My husband started his own business a few years ago when our children were just toddlers. It was a very scary move for us – he is a Personal Trainer, a very good one! I knew that if the people came to him, we would have a comfortable life. It’s that whole, ‘If you build it, they will come’ idea. Luckily, I’m not the only person who knows my husband’s strengths as a Personal Trainer. He’s much more than that to people – a mentor, spiritual counselor, a reliable source of good information. As such, his business is doing well despite the economy. We are often asked how we manage to survive off the income of a Personal Trainer who also owns his business. Here it is!
We have redefined several areas in our life to fit with our income. The guidelines for those changes have come from Scripture, from Catholic-Christian principles, and from good ‘ol common sense. In doing so, we have paid off all debt, with the exception of the mortgage, and are working on building up a suitable savings account that will carry us should something happen in the future.
1. Trim the fluff.
Our first task was to look around the house and decide what was really necessary and what was fluff.
Necessary:
Phones – there is a measure of safety in being able to call for help. We dropped the land line and have two cell phones. Our service does not include texting (fluff).
Food – While food is necessary, we follow a strict plan. Most weeks I plan out a meal plan and stick to it. Other weeks, when the duties of being a mom deny me time to plan the menu, I refer to a list of meals I created and just pull ideas from there. I clip coupons. I shop sales. If it’s not on sale, I don’t buy it.
Fluff:
Cable TV
Land Line Phone
New clothes
Newer Cars
Extended Vacations
2. Treasure Hunting.
This is my favorite part about our budget plan. It’s fun, the kids love it, and it keeps me motivated. Each week, I scan the grocery ads for foods that are on sale and plan the week’s meals according to that. I also watch for items that I know we use often and stock up.
Not only for food, but clothing and household items are also Treasure Hunting booty. A few months ago, my hand-held mixer stopped mixing. To buy a new one was right around $20. I found a classic Betty Crocker mixer at Goodwill for $3.00. It’s works beautifully. Amount saved: at least $17.00
We do the same for clothes, checking Goodwill, Salvation Army and consignment shops first. This year I found two beautiful winter coats for just under $7.00 each. Amount saved: over $100. I found new dress shoes for my daughter for $3.00. Saved: $10.00. Jeans at resale stores are as little as $4.99. Amount saved: between $30 - $120.
I have also traded clothing with my sister and girlfriends. If we are close to the same size, we each bring a few items that are still in good shape, but we are tired of. For each thing we bring, we can take home something that someone else brings. It freshens up my wardrobe and doesn't cost me a thing.
3. List Shopping
This tip is what requires the most self-control for me. Self-control is a gift of the Holy Spirit and must be called upon prior to walking into any store. Keep a shopping list on the refrigerator. This is not a new concept, I’m sure, but write things on the list as you run out or are close to running out. When the grocery ads are delivered to your door (or when you buy the Sunday paper) add to the list things that are on sale that you know you will use. When you go to the store, take the list and buy only what is written down.
Keep a second list on the refrigerator for clothing, appliances, and gifts that you need. As you shop, look for these items on sale. Check garage sales, second hand stores, Craigslist – other places than stores that sell them at full price.
4. Bulk
For items we use often, we buy them in bulk at club stores like Sam’s Club or Cost co. The savings adds up over time. Things like diapers, oatmeal, fruit, printer paper, ink, prescriptions, tires for the cars, photo printing, cleaning supplies – all these can be purchased in large quantities because I know we will eventually use it all up. This works for us because we have a place to store the bulk items. If space is an issue, reconsider this option. But if you have a large pantry, a basement or a closet that you can use to hold the excess – do it. Despite the cost of the membership for club stores, the savings will really add up.
A warning: Club Stores have very fun things – flat screen TV’s, computers, movies, books, chocolate… Say a prayer for strength to only buy what is on your list. Say a prayer to the Holy Spirit for that gift of Self-Control and stick to it. And remember, no one ever perished from not having the latest and greatest.
5. Cash Cache
The Cash Cache has been my greatest success in the battle of the budget. Years ago, I purchased a nice canvas sided coupon file – a size in which dollar bills fit without having to fold them. I labeled each file as such:
Grocery $
Clothing $
Gift $
Receipts
Coupons
Lists
When we shop, we take that file and use cash. Only Cash. The debit card and the credit card do not join us at the store. If we don’t have enough money for something, we don’t buy it.
When we started the Cash Cache, we didn’t have enough to put money in each section. It took almost three months before the clothing section had enough to buy anything substantial, but we somehow managed.
6. One bill at a time
In the kitchen I keep a can for loose change. After each shopping trip, any $1.00 bills go into the can. This is our savings plan – our retirement account. I average $4 - $9.00 each trip into the can each shopping trip. Over the course of a year, we can save several hundred dollars. It’s a little thing to do, but it is really the only way we can save any money – living as tight as we do on this budget. It’s important to put money away for that imminent rainy day; even if it is, literally, one dollar at a time.
Twice a year, I take that can to the bank and deposit half of it into our retirement account and the other half into the girls’ college savings.
Other little things we do:
• Turn down the heat and wear a sweaters and wool socks during the winter.
• Weather-seal the doors and windows.
• Take short vacations near home, for example, going camping or looking for hotel specials.
• Use the library for books, movies and music rental instead of Video Rental stores. Most often it’s free or only $1.00 for a movie rental.
• Just Say ‘No’ is more than just to avoid drugs. Say ‘No’ to frivolous purchases, pushy sales-people, and friends who have quarterly home-based shopping parties.
• Keep is Simple. Christmas and Birthdays are dangerous times for going overboard on gifts and parties. By simplifying and focusing on the true meaning of these special days, the cost can be managed very well. Instead of many gifts at Christmas, play many games, watch many movies, read many stories – do it all together as a family. On birthday’s, have the birthday child choose what will be for dinner and make it together. Gifts that are activities done together make greater memories than any wii game (or whatever kids like now).