|
|
Advice from someone who made a lot of mistakes!May 13 '01 Write an essay on this topic.
Popular Products in Building Supplies
The Bottom Line With hard work, determination and some sacrifices, getting out of debt and managing a family budget may not be as hard as it seems.
It is Mother's Day. My husband talked all week about taking me out for lunch with the kids. It is something many families do today. It is a 'ritual' for many, and is something we have done the past 9 years (since I was first expecting my first child). So why did this simple plan keep me up all night? For years, my husband and I were simply not sensible about money. We borrowed, we paid minimums on credit cards, we avoided creditors, we made phone calls begging for a little more time. Finally, there were no other places to turn. We could not borrow any more (we now owed), our credit cards were maxxed to the limit, the people we owed money to were not so forgiving. I chose to stay home with my children until they went to school. That was all well and good; but I also chose to spend money like there was a second income coming in besides my husband's (who was in sales, and had no guaranteed income, for he was paid on commission). Then it hit us...we had to stop, get more money and pay less. We were deep in debt, and capable of working and saving. My kids went to school, I got my day care license, and have been working full time since last September. Slowly but surely, we are getting out of debt. So, Mother's Day Dinner... My whole mind set has changed as our bills were being paid, getting less phone calls, improving our credit. I did not want to spend the $50.00-$60.00 that I knew we would spend. I wanted to be with my kids, reading books, taking a nap, reading the Sunday paper. I would have love to have the money to go out, and feel comfortable spending, but we are finally on the road to more financial freedom, and I feel too good about our progress. For the first time, temptation to spend is not outweighing my temptation to no longer be in debt. We still have a long road ahead, but, at least we are on the road! Here are some changes we have made, and been consistent about, to eventually get out of debt, that I would like to share, and maybe be used by others in our situation. Some things that we are now doing to maintain and manage our family budget. Grocery shopping: Read every circular, and compare prices. be willing to go to different stores if you have the time. Quite often the same products will be on sale, but for different prices at different stores. Use coupons: They save a lot of money!!! Do rebates: Often a long with a coupon in the Sunday circular, comes an attached rebate form, either for some money back or all of it. It takes next to no time to cut a ups code, fill out a form, address and envelope and mail it. There are also form in many stores..throughout the store, at the entrance, at the service desk, etc. Take lunch to work: My husband takes a lunch that takes next to no time to make in the morning, and we figured we are saving at least $25.00/week. Buy second hand: It is yard sale time! See what is out there! Often times, there are even new products at these tables, at unbelievable prices. Also, check the local thrift shops, flea markets...etc...With an open mind and a good eye, you can find some wonderful items. Have your own yard sale: We made over $100- in cash last year, and the bonus was, our house was a lot less cluttered! Utilities: so basic, but we so often forget: turn off the lights, make sure the dishwasher is full, wash clothes that can be washed in cold water...in cold water, have a timer in the bathroom and set a time limit on showers, use fans instead of air conditions, lower the thermostat, keep all appliances clean. Split the cost with friends and family: Share a magazine or newspaper subscription; if less expensive-buy items in bulk, and split; switch off baby sitting. Say no, and be selective: This one is hard! You do not have to participate in every fund raiser at your child's school. You do not have to give to every charity. When my husband and I decided to get out of debt, we set clear guide lines where we would spend. We decide that there were so many fund raisers at the kids' school, we would give each child the equivalent of $50.00 worth of 'sales' (wrapping paper, candy bars, etc.)..over the year. We also picked 2 favorite charities..of for each of us, and decided that until we were on better track financially, we would only donate a very small amount that year. This if hard, we want to do more, but we cannot. Get a second part time job, work a few more hours: Right, you work 50 hours/week, how will you pull this off? It may be as simple as baby sitting one day a week, and taking the child with you. If your office offers over time, take it once in a while. Waitress, type...do whatever skill you may have. This is something I so much did not want to do...but realized that it will be temporary, until we got totally back on our feet again. I have extended my day care hours for the summer; my husband umpires (for pay), for the local Babe Ruth League. There are other options, but these are the ones we have concentrated on most. Our marriage is stronger, the kids are happier. My husband and I no longer argue over money because we are working together on this. We will continue with most of these things in order to stay on our budget, which go to out of hand a while back. It is crucial to maintain ways of saving, in order for your family to financially survive. Next year,on Mother's Day we will have a spectacular brunch at my favorite local restaurant and talking together. This year, we will be together, enjoying sandwiches, reading and talking together. I know this will be one of the sweetest days ever.  |
| Read all comments (6)|Write your own comment |
|
Ads by Google
|
