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]

Re: Can you help?

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]

Re: Can you help?

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]

Re: Can you help?

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]

Re: Can you help?

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]

Re: Can you help?

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]

Re: Can you help?

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

[Joan.of.the.Arch]

Re: Can you help?

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]

Re: Can you help?

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]

Re: Can you help?

What sort of casseroles did you make?

[boefixepa]

Re: Can you help?

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

[Ima saver]

Re: Can you help?

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]

Re: Can you help?

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]

Re: Can you help?

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]

Re: Can you help?

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.