Thursday, July 23, 2009

Best tip for frugal living

The best tip I can give anyone? Stop spending money.

Alright, way too simplistic. And somewhat unrealistic at times. So, how can I frame it where it IS realistic.

I want a new car. I am in an odd position, where I now see cars, pass by the dealerships and crave a new car. I was looking at prices, etc this morning and wishing I could have a new car. (Reminder: my car is 13 years old, 170 thou miles, and had broken down a month ago. Hubby fixed it a few weeks back and its fine at this time)

I paid bills this morning, went to the bank and paid the second mortgage and transferred money to our savings account (we keep an emergency fund, and dipped into it during July to buy the pellet stove, as well as a ton of pellets. Nice to know that heating is taken care of for the winter! Plus, we go on vacation next month and I need money set aside to pay for gas to travel with.). I had an AH-HA moment. I transferred over the "extra" money to savings, but if hubby hadn't worked all the overtime that he had the past two weeks, there wouldn't be any extra. As in, after the regular bills were paid, there wasn't any extra except for his overtime.

What would I have done if I had a several hundred dollar car payment? There isn't always that overtime and extra money. How hard and stressful would it be if we had that additional bill?

Yes, we have options. I could always go out and get a full-time job to pay for a car. But I enjoy being a home MAKER, in taking care of my children and having the freedom to be available for my children. If I was working full-time, I would need a lot of outside assistance with the kids.

Bottom line: I'd rather have an old car and be at home than a new car and be working. Which is kinda what would have to happen.

So how does that translate to others? Well, think about extra purchases when you make them. Can some of these things wait until later to buy? How important is it to have right away? How many hours would you have to work to earn the money to pay for that item, and is it really worth that?

I have found that most things that I "want", if I wait and think it over, I chose not to buy it. There are simply other things that I want our income to go toward.

Best way to save money is to not spend it.

Realistically, what do you throw away in a day? In a week? How frequently are those cool new things used? (BTW, if it's something you will use daily or very often, paying extra to get more durable goods that will last longer and be more comfortable or efficient, it's worth the extra money!) Really think about how often you would use the item, how many hours it takes to earn the income to buy it, and how long the item will last.

Just my two-cents for the day. I am feeling thankful and blessed that we passed on getting a new vehicle. I am glad I don't have that additional bill. So very glad I don't have the stress of worrying about how we would pay for that debt. How much of a blessing would a new car have been if hubby and I were stressed about finances?

Think about it.

1 comment:

  1. Wendy i agree with you , ihave started evenmaking my own dishwasher liquid pennies a load .well we see you later. Rena