Ok, gonna talk finances. Please understand, this is my story. Non-judgement zone. It works for me, it may or may not be right for you.
If you've read my previous entries, you know we don't currently pay rent nor have a mortgage. God provided in a miraculous was about four years ago.
And yet, it still hasn't been easy. Plus, we know the time is coming when that will change. Even so...
We dropped below the poverty line in income. We qualify for every possible financial/government aid out there, yet use none of it.
~ let's derail for a secondary topic.
😱 Why not use government assistance!?!? - you may ask. Well... We feel as though God wants us to trust Him to provide, and not trust the government. I'm not saying it's a horrible thing to use any government assistance, I'm saying that we (hubby and I) have prayed and discussed about it. Most of the programs are designed to help people get on their feet when they hit a hard time - temporary help. This living on one income is something we plan on doing for a while, so we need to figure out how to make it work. And you know what? God provides every time.
Now, back to my original topic - making finances work on a tight budget.
First, I know we are blessed to not have rent/mortgage. However, we still have to cut corners EVERYWHERE because, contrary to what people believe, my husband does not make a 6digit salary working on computers.
The computer repair business in a small city is not very lucrative.
How we manage to not over spend:
1: Trust, pray, obey. You know how I said we don't use gov't aid because we feel God wants us to trust in His provision? Well, thats step one.
Pray and find out what God wants you to do financially, and do it. Trusting Him, even if it seems crazy.
2: Savings account. We don't have a massive savings, but over time God has provided us a decent buffer in the bank to start an IRA (great considering you don't retire from being a SAHM and hubby won't 'retire' either) and build up a decent amount to provide either a good down-payment when we buy a house, or when we have to move provide a few years worth of rent until we can buy. It also gives us some comfort for when health issues arise.
3: Divide and conquer so one of the pair isn't overwhelmed by the lack of money. This also involves trust - of your partner.
~ My husband deals with the "bills". Electric, medical, insurance, broken vehicles, etc. All the monthly stuff and the big stuff, he takes care of.
~ I am responsible for food, child/school supplies, and daily whatever (gas...)
How I manage my set of finances:
* I have, over the past two years, written down every penny I spend in a notebook. One page, one month (Date, place, amount). At the end of each week I do a weekly tally to see if I'm on track over-all. At the end of the month, I see my total, but I also total up the groceries, eating out costs, and gas separately. Then I see if I can cut any more corners.
Let me tell you, this has been a GREAT help to me. When I started staying home, I was spending nearly $600 a month on stuff. Now, I tend to stay around $450.
How? I see where my money is going.
Example: I spent way more on groceries than I do now. I learned that even using coupons and sales, I spent more weekly at certain grocery stores than others.
We have a LOT of grocery choices. For me, Aldi cut my weekly grocery bill nearly in half (no joke). I also buy discount bread at the "day old" bakery in town. We live on eggs - when a dozen eggs is less than $0.90... I feed my family a healthy breakfast of eggs, liver mush, toast... Pretty much daily. $4.00 a week, breakfast for four people. Can't beat that.
~ Unfortunately, I have also cut costs in less healthy ways out of financial necessity. At Aldi, I can buy a can of veggies ($.46), Vienna sausages ($.39), and a box of Mac 'N Cheese ($.33), mix together and have lunch for my daughters for three days. This isn't a weekly thing, but it does happen...
Anyway, I also saw how much even grabbing a quick lunch off the dollar menu once a week was costing.
This encouraged me to start packing lunches when the girls and I will be out all day. Not the nicest meals, but affordable.
Other ways God has shown us to cut costs:
* We don't pay for TV. We don't really watch any TV (that's a different rant), so we have a tv and DVD player. That's it. No cable, satellite, Netflix....
* Our internet is only on our phones. This cuts costs, also cuts the desire to be on it all the time.
* During nice weather, I do not use the dryer. I have a clothes line, I use it regularly.
* We have a garden and preserve our food regularly. Canning, freezing, etc.
* We buy meat in bulk, on sale, and freeze it.
* We also don't shy away from rabbit, deer, etc. We have friends who like to hunt but don't like to eat venison. If they give us the skinned deer, we process it ourselves and freeze it. We also raised rabbits for a while - for the meat. It's a lot cheaper.
* We live a good bit outside of town, so we only go into town twice a week and do all our running in those days. With a 30 minute drive, the less often we take it the better (other than hubby, who drives the distance to work. Then again, he drives a car with good gas mileage, not the big thing I lug the kids around in.)
* Hand me downs... and downs... and downs... My children are two of nine cousins on my husbands side. Clothes get passed around. We also get hand-me-downs from church friends and pass them around. Between that and grandparents, I think I've spent $20 buying clothes/shoes for my children.
* When it gets to the end of the line, we consign stuff. There are more than five consignment stores in town, I take boxes around to each one. It helps. Yes, I donate stuff too, but when you need money (or store credit), consignment is a great idea.
* Reusable stuff. Cloth diapers, mommy cloths... It's a bit gross to transition to, but really once you do it a while you stop noticing. You really do save money in the long run, and you can get used cloth diapers pretty affordably.
* Being willing to do some work (yes, even as a SAHM). This is where school comes into play for me. I chose to join Classical Conversations (more about that later). It's not the cheapest, but because it's a curriculum and coop combined, there are ways to save money if you are willing. I first volunteered to help do the art/music, which would have simply off-set the tuition cost. Then, the need arose for another weekly tutor, and things in my personal and prayer life aligned to tell me to step into that role - which provides more of a financial help.
- Some moms become consultants for companies (Usborne, ThirtyOne, Avon....) or find an online/ work from home job. I know a few who work odd shifts so they are home during the day. That way they have some extra income without having to leave their children. Kudos to those women, I've done part-time work but never something quite that demanding.
So remember - Where Hod guides, He provides.
It may take time to adjust. It may be a bit "uncomfortable".
Yet... If God wants you to stay home and mathematically speaking it seems impossible, well... Isn't He the God of impossibilities?
Matthew 19:26
"But Jesus beheld them, and said unto them, With men this is impossible; but with God all things are possible."
Proverbs 3:5-6
" Trust in the LORD with all thine heart; and lean not unto thine own understanding.
In all thy ways acknowledge him, and he shall direct thy paths."
Philippians 4:13
"I can do all things through Christ which strengtheneth me."
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