Monday, May 9, 2011

Cost Cutting Ideas

I use Quicken software for my family book keeping.  I created a few reports today that my husband and I looked at in detail for things we could cut from our spending.   Here are a some areas we found that we can cut back. Think of your own situation and see if any of these ideas could help save you money:
  • School Lunch. I was SHOCKED at how much lunch money costs for my 2 boys!  I only pay $1.50 per child per day, which doesn't seem like a lot but the amount I've paid this year to date (YTD) is $198.00.  That's $25 per child per month. Capri Suns are about .15 each, plus a sandwich,a baggie of chips and a cookie would cost you about .50.  That's a dollar a day that stays in your pocket, per child!
  • Eating out.  Our YTD is $371.14.  This number does include our week long Spring Break vacation so it is a little inflated.  That's almost $100 a month that we could save by taking the time to make food at home.  Ordering pizza less would also cut this cost. (curse you Domino's!)
  • Groceries.  As you know, I use coupons when I shop.  But there is always room to use  coupons more efficiently and save more money. :)
  • Preschool.  May marks the end of us paying $85 a month for preschool. (YAY!!)  YTD for Preschool plus admission fees for field trips was $434.25.  yikes!  To save money on preschool tuition see if you can volunteer or team teach at the school.  Maybe you have a skill or trade that you could swap for a month's tuition.
  • Cable. Do you really need all those channels?
  • Extras. As you all know, I post internet deals on Thrifty 101.  I am very picky about what I post on Thrifty 101. I only post the best deals I find that I think my readers might benefit from.  If you have been looking for the item I've posted a deal on, that's great!  Please don't fall into the trap of "It's a good deal, I don't really need it but I can't pass it up!" That defeats the whole purpose of living a Thrifty life.  Just because it's on sale or a good deal does not mean you need to purchase it.  
You can't save money by buying things you wouldn't usually purchase.
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  1. Love these tips! Thank you. I have started using coupons much better now and I am amazed at what I can get for pennies or even FREE if I just take a little time and check around for deals. I don't have crazy amounts of free time on my hands, so really, I only spend a few minutes a day looking around for the coupon printables and deals that I will use. So far, I've been saving a fair amount of money!!!

  2. That's great Heather! Every little bit helps. I was thinking this morning about creating a jar to put money in that I "almost" spent on say a candy bar or an online deal that I decided to pass on instead of purchase. It would be interesting to see how much money you save by just being conscious of it.

  3. You really are a gift to us Michelle. Thank you for you for being such a great example.. I look forward to seeing your posts-they are so inspiring and smart. You have conquered and have inspired us to spend wisely.


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