How do you economize?

[Disneyatic]

My DH and I work for the same company and in the last few years it has been doing poorly and slowly downsizing. Today was the latest downsize and we are both safe again, but DH is getting his overtime cut out almost completely so this will hit the paycheck.
We have been anticipating changes and so have been looking at our budget to try to figure out what and where we could cut but it is so difficult to figure out the best way to do it.

I was wondering how other people economize?

Any tips or suggestions on good ways to make the budget leaner?

[Aggie97]

Not eating out or doing takeout -- when both my husband and I were working high-stress jobs with very long hours, we probably ate out or did takeout 6 nights a week, on top of going out for lunch at work. Now that I am at home, we cook dinner 5-7 nights a week, and I no longer go out for lunch. It's made a huge difference for our finances (and our waistlines, actually!). :)

[offwego]

Hard to say since I have no idea what you've already done but here goes.

Review monthly bills for options. (Cable can be "basic", phone doesn't need call display to work etc).

Track "cash spending" so you can eliminate coffee's magazines and other "stuff" where you can. (also review your banking package to make sure it's as affordable as can be)

Review how you do housework and similiar stuff, switch to cold water for washing, try line drying some clothing, buy your cleanear in bulk and get a multi purpose one instead of 3 bucks to clean every little last thing.

Leave credit cards at home so you can't impulse shop.

Make menu plans and lists from sales and stock up where you can on "good deals" to plan from your pantry as well.

Consider downsizing cars, or even your home if that's an option.

[thrillme]

The best thing I can say is:

a) keep a log book for EVERYTHING you spend even if it's only a dollar for a coke.

b) watch out for the grocery store. This place is a menace. Sure going out to eat can be a big thing but...sometimes it can be just as costly to buy stuff from the grocery store that goes to waste.

c) Need clothes...don't overlook the thrift stores. Some GREAT bargins and new or gently used clothing can be found here.

d) Carpool if possible and/or combine trips to save gas.

e) Watch out for buying in bulk unless it truly IS a product you will use up or it's a product that doesn't go bad.

[Disneyatic]

Thank you for the suggestions so far! I am printing all of these off and taking them home to DH tonight.

As far as what we have done to economize so far, that would be nothing. We have talked about it and our bills/budget is pretty cut and dry unless we cut our cable all together or cell phones and we just aren't willing to do that...YET. That is why I wanted to get other people's suggestions on how they do it or what they do.
Eating out is going to be the #1 thing we stop. This will help our pocketbook and our pants ;)

[Aggie97]

Sure going out to eat can be a big thing but...sometimes it can be just as costly to buy stuff from the grocery store that goes to waste.

I agree -- I started planning out meals for the week and going shopping with a detailed list, which significantly cut down our impulse purchases and wasted food! :thumbsup:

[NewmanFamily6]

As far as meals I plan 2 weeks at a time and write out my menu before going to the grocery store. I only buy the items I need for meals. We also use an envelope system that allots so much cash for everything. For example: the groceries envelope gets $250/2 wks, gas is 200/2wks, household items 30/2wks. We only use cash and when it is gone its gone. I have an envelope for everything. Dh pays the bills directly from checking so we know what should post on the Bank account.

[MissStyles]

I agree with keeping a log. DBF created an extremely complex spreadsheet for us when we moved to FL and it works so well. It doesn't have to be complex, but as long as you track every single dollar and cent you spend it will give you a clear idea on what you spend and what you can cut back on. Goodluck!

[Dakota Rose]

Something that really helped our monthly budget was putting our utilities (gas and electric) on balanced billing. This way our bill always averages $50 or so and we don't have to deal with winter and summer spikes.

We can't live w/o our cell phones either, but we keep tabs on our plan. If we're going way under or way over the alotted minutes, then we switch plans and end up saving a few bucks.

And, we put all our spare change in a giant water bottle. We can use the change to pay for small ticket items like car washes and soda pops, or let it accumulate for big ticket items.

[BouncingTigger]

My bf and I save money by not having a home phone line. We both have cell phones, so why do we need a home line? This won't work for everyone since if you have kids, you probably would want a home line.

We are lucky because my boyfriend works at UCSD and he can take a free shuttle from the UCSD Medical Center (about a 5 min walk from our apt) to the main campus where he works. This not only saves on gas and car costs, but this way he doesn't have to pay $80/month for parking!

Also, we both believe in small cars with good gas mileage. No gas guzzlers for us!

We eat out pretty often (we should cut back) but we eat out at cheap places and don't order expensive dishes (besides, usually the expensive dishes are meat-based and we are vegetarians).

Also, I make coffee at home to cut down on the times I grab a latte at Starbucks. Since I'm the only one who drinks coffee, I got a small and cheap coffee maker that makes a cup at a time. Also, I have a water bottle that I fill up with filtered water here at home and then add in the Target brand equivalent of Crystal Light packets to make it a good alternative to sodas or other drinks I would be tempted to get on campus.

Also, we get year round passes to local attractions (such as the San Diego Zoo and Wild Animal Park, Sea World, and Cabrillo National Monument (a nice park area that also has tidepools). The savings are great and instead of going shopping on the weekends for fun, we go to places like these (also free things such as the beach).

We like going to see movies in the theater. We can get cheap AMC tickets at Costco, cheap tickets on campus, or go to a movie before noon on the weekends (I think it is $6 then). Also, we almost only buy used movies from online places or the used sections at Blockbuster or other movie rental places.

[jillluvsdisney]

I decided to eat healthier food. I bring my breakfast and lunch to work now. I figure it saves me about 50 to 75 bucks a week. That money has gone into my saving account.:number1: I also notice, when I do have cash in my wallet now, it sure lasts a lot longer. I've lost 10 lbs and clothes are fitting better too. I'm not buying any news clothes while I am in transition either. It's really worth it to me.

[MsMin]

I would not have believed it but the "curly" light bulbs have helped reduce my electric bill. While it's not scientific, my bill used to run about 50 more than my mom's and after I changed the bulbs (9 spots in my kitchen alone) my bill started running about 20 less than hers. Our houses are very similar in size and build etc. I also put in a programmable thermostat. Check your water heater settings etc.
I find that lists help me from buying things I don't need that are impulse items and I cut out the # of trips to the store. The more often I go the more I spend.

[lovewalt]

When I was a stay at home Mom and we were living with one income we had to cut back on a lot of things.Even though I work full time now we still practice some of those budget cutting things.

We use pre-paid cell phones instead of having a monthly bill,this works for us because we aren't big phone talkers but it's nice to have a phone for emergencies.

We pack our lunches instead of purchasing lunch each day.DH's workplace provides free bottles of water so sometimes he packs a crystal light for variety.I buy bottled water in bulk and pack them instead of buying them at work.

We make coffee at home and then we get to use our collection of Disney resort mugs to put it in!When people ask us what we want for Christmas or birthdays we tell them Dunkin Donuts cards so we can treat ourselves sometimes.

We have starting eating out again but we try to limit it to when I have weekends off which is twice a month.Again, we tell people to give us restaurant gift cards as gifts.

We keep our older paid off vehicles.I would love a new car but I love not having a car payment more.DH is a mechanic so that cuts way back on any car repair bills.We pay for parts only, no labor costs.He also does things like oil changes and tune ups himself.

We joined Blockbuster online.With a child we don't get to see "grown up" movies in the theater that often so we wait for them to come out on DVD. And we can keep them as long as we want so no late fees to worry about.

We buy generic/store brand groceries A LOT.There are a few items that just aren't as good but in my book a can of corn is a can of corn.If there is a store brand version of a product I buy I will always give it a chance.

And when it comes to Disney we always go with value hotels. Pop Century is our favorite.This year we decided to not do a regular 5 night/6 day trip this year and save for a 10 day trip next year.

[d_m_n_n]

I agree -- I started planning out meals for the week and going shopping with a detailed list, which significantly cut down our impulse purchases and wasted food! :thumbsup:


I do this as well and am amazed at how much it saved (not to mention I don't have 4 jars of spaghetti sauce in my pantry!). Also, look for stores which do comparison pricing. It is nothing for me to save at least $20 a trip using coupons and other stores' ads at the Wal-Mart! It is a pain, and I know people hate waiting in line behind me, but it is so worth it!!! :)

[BelleLovesTheBeast]

I clip coupons for groceries.

Also I check my local grocery ads and determine my weekly menu based on what the stores have on sale. I buy mostly sale items. It has cut our expenses by 25 - 30%.

I check to see what gas station has the cheapest gas around. I found a station that sometimes has gas 15 cents a gallon less than the other stations.

[tinksmom02]

I would not have believed it but the "curly" light bulbs have helped reduce my electric bill. While it's not scientific, my bill used to run about 50 more than my mom's and after I changed the bulbs (9 spots in my kitchen alone) my bill started running about 20 less than hers. Our houses are very similar in size and build etc. I also put in a programmable thermostat. Check your water heater settings etc.

Our electric bill went down almost a third the month after we switched our lightbulbs.

[magicofdisney]

I agree that you really have to watch the grocery budget. It can get out of control really quick.

Never pay retail. It's unbelievable how many things you can buy without paying retail. I am the discount QUEEN. I have to be really desperate to pay retail. I pride myself on the deals I find but it can backfire. Sometimes I tell my husband I can't afford to NOT buy something because of the discount it offers. :blush:


cut back on cable
drop to one cell phone
downgrade or get rid of land line
turn up the AC, turn down the heater
take more showers and less baths
turn down the thermostat on the hot water heater
use a shorter wash cycle on the dishwasher
carpool
iron clothes instead of dry cleaning
buy store brand food instead of name brandJust a few ideas.

[Lorraine444]

Price compare w/Car Insurance.
I have a 2000 Mitsubishi Galant here in Connecticut.
I decided to drop my collision, get the minimum state limit 20/40 & now I pay $36.00 a month for car insurance!
Boy would I love a new car, but mine still runs great and I don't pay $300.00 for car taxes - no car payment & cheap insurance!

Cable.... How much T.V. do you/should you watch a day! My cable bill includes basic, basic channels 27 I think, internet & phone. $65.00/month.

If you want to spend less on bills and save more you MUST sacrafice and discipline yourself.
I'm a single mom w/no child support.
Some things my 13 yr old son really wants, hey!
That's life! I believe this will help him in the future.
Best of luck to you, it's not easy, but I'm used to it now, and I wouldn't do it anyother way.....
T.V. especially! It's a big waste in everyway...
The mony I save goes to savings & nice long vacations......

[RAIDER]

Take back the other halves credit card :D:D:D