Can you help?

[shepav]

Okay. My last day at my job is this Thursday, and soon I will be a stay at home mom (in a couple of months). We're also moving this weekend for my husband's job. We're in the process of selling our house. Once we do, we'll have a lot more money each month to put into savings.

In any case, I'm trying to think of ways we can think frugally and spend as little as possible. Granted, I should have been doing this all along. We did put most of my money into savings or onto debt, but we could have been a little more aggressive. Anyway here we are - can you guys think of any ways to cut back?

So far I've:
1) Contacted the insurance co. about raising our deductible to $1000, and let them know we're moving (this will hopefully bring our cost down, since it brought it up when we moved here) and that I'll be at home.
2)We've cut our cell phone - only landline.
3)no cable (we never had this).
4) Moved our grocery bill to $200 - too high? Reasonable?
5)We're putting plastic on all of our windows and keeping heat to 66 degrees.

What are some other ways you stay at home moms cut back? Any suggestions would be appreciated!!

[Ima saver]

I keep my hot water heater turned off all day. I only turn it on 20 minutes before a shower or when running the dish washer.

[rduell]

When I was a homeschooling SAHM most of our meals were casseroles. I only used half of the meat that the recipe called for and that saved money.

Is the $200 groceries for a month? I wasn't clear on that.

[poundwise]

Originally Posted by shepav

1) Contacted the insurance co. about raising our deductible to $1000...

I assume you mean auto insurance. Do you own your vehicle(s) outright? I ask because most, if not all, major lenders will require you to maintain insurance on a vehicle that you are making payments on and also require that the deductibles be no greater than $500.

Just a thought.

[rduell]

Originally Posted by poundwise

I assume you mean auto insurance. Do you own your vehicle(s) outright? I ask because most, if not all, major lenders will require you to maintain insurance on a vehicle that you are making payments on and also require that the deductibles be no greater than $500.

Just a thought.

Huh! I did not know that. Ours is $500 anyway, but I find that interesting. Thanks for passing that along!

[shepav]

We've owned our vehicles outright for a couple of years. Is it not a good idea to raise the deductible on our insurance? We do have aboug $10000 saved just in case of emergencies/etc.

Thanks for all the help!!

[shepav]

Oh, and yes, the groceries were 200/month. Sorry for being unclear about this.

[Joan.of.the.Arch]

Sounds to me like you are doing quite well. Are you expecting a baby? Babies do not need nearly the clothes and "baby appliances" that most middleclass newborns get. If you are awaiting a new baby, don't be tempted to junk up your life with every baby aid and bauble that is out there.

[poundwise]

Originally Posted by rduell

Huh! I did not know that. Ours is $500 anyway, but I find that interesting. Thanks for passing that along!

Yes, in fact, in very nearly every case of financing, the terms of your loan will most likely require you to provide comprehensive and collision insurance and, as mentioned, will often stipulate a maximum deductible amount.

If you violate these terms, the lender has the right to "force place" insurance coverage. This type of insurance is expensive and is added to the cost of your loan. Laws vary, obviously, but this is the basic idea.

Once you own the car outright, it is up to you what coverage you carry (other than liability).

If I owned my vehicles outright, I'd have a $1000 deductible.

[shepav]

What sort of casseroles did you make?

[boefixepa]

If you are looking for inexpensive cooking recipies try www.hillbillyhousewife.com

[Ima saver]

I keep my house set on 60 in the winter time, a little higher when my dh comes home at night. I just wear lots of sweaters!

[shepav]

I keep my house set on 60 in the winter time, a little higher when my dh comes home at night. I just wear lots of sweaters!

Wow! I'm not sure I'm that brave, but I'll try to keep it as low as possible!

Thanks for the suggestions!

[Ima saver]

It is funny, but you get use to it. I have a heating pad for my little dog to sleep on and stay warm.

[autoxer]

Originally Posted by shepav

Is it not a good idea to raise the deductible on our insurance?

If you are accident-prone, then the monthy savings will be wiped out when you do pay the deductible. If you know how much cheaper it is with the higher deductible, then you can figure out how many months you will have to go without an insurance claim to break even.

For example: Suppose it is $150/ month with a $500 deductible, or $100/month with a $1000 deductible. Then it would take you 10 months saving $50 each time to make up the difference from a $500 deductible to a $1000 deductible.

If your claims are more frequent, then you would save more by having a lower deductible.

[vishenda]

It's a good thing to save and think of the future, but just remember the old saying: you can't take it with you. What good is saving and saving if a person can't even enjoy spending once in a while? Sounds like you got a good start for your future though.

[shepav]

Originally Posted by vishenda

It's a good thing to save and think of the future, but just remember the old saying: you can't take it with you. What good is saving and saving if a person can't even enjoy spending once in a while? Sounds like you got a good start for your future though.

Good point - I need to be reminded of this sometimes. My income will be cut drastically, so I just wanna be sure I'm being wise with money.

[nanamom]

We keep our heat at 60 in the winter and I don't raise it when DH comes home. Casseroles are good. Tuna is cheap and works in the casseroles too. Meatless nights work well also. We have an egg dish for dinner once a week, eggs are cheap. Sometimes we have pnut butter sandwiches for dinner. Cereal is expensive, we only have it on Sunday. Pancakes are cheap, as is oatmeal. You can bake your own bread for alot less cost. If you don't want to try, check freecycle for a bread machine. if you haven't shopped at Goodwill, try it or a resale shop. I try to hit ours on "bag" day. My dryer broke and ever since I have been hanging our clothes. The wooden thing I bought cost 9.99 and has saved my electric bill alot. For entertainment, find a friend and trade off babysitting while you go for a walk, or depending on the weather where you live go to a inside free thing like a museum. One of our favorite things to do is get together with friends and play games. WE don't have a TV so cable isn't an expense for us. If it is for you, cancel it! Do you need the internet? Can you use the local library? Combine all your errands to one day and let the car sit for the other 5. Mke it a game with the kids to save money, and catch them at it. Like you closed the refridgerator really quickly that's a point for you. Or you remembered to turn off th elight that's a point. Of course if they leave a room with the light still on take away 2 points. At the end of the week whoever has the most points wins a prize. Prizes can be an extra helping of ice cream or picking to the movie you are borrowing form the library or staying up an extra half hour. Or you can say anyone with 10 points or more at the end of a week get s to....

[Snoopy2645]

Well for my kids clothes I garage sale I used to think clearance shopping was good but garage sales are way way better!!! I wish I would have started it years ago I can get my kids tons of outfits for $1 or $2 at garage sales & the smaller your kids the easier to find stuff the key is to be the first one at the garage sale. Also the internet is a great source I make alot of money doing surveys & getting coupons online!!!

[mom-from-missouri]

Will you be in town or the country? If in the country, I am a sahm (farm wife) and have found its much easier for me to save in teh country verses when I lived in town