George and I are always up for saving a buck. We are frugalites primarily because that's just how we are. We like being this way; it works for us. Even if we had a million dollars in the bank I would still happily clip coupons every Sunday night and make out my grocery list according to the specials because it's fun. But, we also have another motive. We want to pay off our house early and finally be debt free.
We believe that debt is bondage, (particularly excessive debt). Imagine being tied up to a chair and being unable to move or barely gasp for breath. If you are in debt or have been in the past, you know what I'm talking about. Any debt that has become even the least bit difficult to manage strangles you and sucks the very life out of you and your marriage. George and I do not want this to happen to us so are taking strides to finally be completely out of debt.
I know penny pinching takes a lot of flak, especially from the crowd that wants to save big bucks by forgoing a daily latte, and yet still live a high consumption lifestyle in every other way.
Penny Pinching does pay off; but only if you are careful about the big things too. Ever heard that old saying "penny wise and pound foolish"? Not a good thing to aspire to.
George and I are pretty careful with our money -- the little things and the big things. You simply cannot have healthy finances if you consistently over spend in either area.
Here are some of the things we've found to be very helpful to us in saving money.
1. We tithe on our personal revenue and business revenue.
Tithing not only opens the windows of heaven; it does a miracle work on the inside of us. When we acknowledge God as the source of our capabilities, talents, business ideas and plans that cause us to prosper we stop being so greedy with the money we do have. We realize our success has a whole lot more to do with God than it does us. We've found the less greedy we are with what God gives us, the more He blesses us.
This technically isn't a money saving idea, but God's always made the other 90% go so miraculously far that we consider tithing as a money saver.
2. We do not overspend on big things... like houses. Knowing a house will probably be the biggest purchase we will ever make; George and I are cautious to the extreme about housing (even before the housing bubble popped). Buying too expensive of a house causes more financial hardship in this country than anything else in our opinion. We figure that if we keep our housing expenses under control, then the rest of our finances would be easy; well, easier.
A little about our housing situation.
George and I both owned modest homes before getting married. Mine was getting close to being paid off and George's was entirely paid off. Rest assured, these were not large, fancy homes in exclusive subdivisions. When I say modest; I mean modest. In our opinion a modest home that's paid off is much more desirable than a much nicer home that comes with a hippo sized payment.
We were delighted to be starting out marriage in such a good position housing-wise (two houses to sell). The home we live in now, we purchased just after we got married. It's an old farmhouse out in the country. We have a modest mortgage on this house that we are working diligently to pay off in the next few years.
We could've bought a much nicer home according to the credit union, but we chose not to. We chose a home where the payments (including taxes) would be less than 20% of the one fixed income source we have, which is my job in the Accounting field. Our credit union was willing to lend us a lot more money, but I shudder to think how painful it would be to write a check every month that would take up such a large portion of our take home pay. Plus, that would make it impossible for us to have enough money left to make extra principle payments so the mortgage could be paid off early.
3. We save on the little things
Every family is unique so some of the ideas I'll share here might not work for you and that's okay. Here's a handful of the things we do that work for us.
- cook most of our meals from scratch
- eat out infrequently -- usually as a special treat, maybe twice a month
- hang our laundry to dry
- make our own laundry soap
- cover our windows with plastic during winter
- use coupons, coupons and more coupons combined with sale prices.
- plan meals around what's in our pantry and freezer (stocked from great sales, of course!)
- grow a garden
4. We don't shop much.
This is probably the biggest way we save money. We just don't buy very much stuff. We buy what we need, and sometimes even stuff we don't need but just want. But honestly we don't want very many things that we don't need. That's the secret. Seems like it would be the biggest burden to carry around -- always wanting something you don't need.
It's wonderful to save money and everything, but what sense does it make if you were just browsing through the craft store, Target or the hardware store and bought a whatchamacallit on a great deal. Good news if this is an item you needed and were on the look out for. Bad news if this is an item you think you might use someday -- that's cash right out of your pocket.
I don't think it's the occasional treat of buying something just because you like it and want to have it. As a matter of fact, I think its good to do something like this once in a while, providing it's not something hugely expensive like a cruise, new car, etc. Buying something for fun is a nice pick me up. But when you start doing it every week, every day is when the trouble starts.
After going over this before hitting the magic publish button I realized the things we do might seem rather dull and boring to you. After all, you can read the same thing (well, all but the tithing) in any money saving article found in a supermarket check line magazine.
5. I'm rich! It's all about the attitude.
This applies mostly to me, and not so much my husband. Long time readers and those that have read through my Old Fashioned Life series know that I grew up very poor. So poor, in fact that I sincerely thought that anyone that was lucky enough to have an indoor bathroom was fabulously wealthy. I knew what it was like to worry about the garden stores not lasting through the winter. What it would me to our family if one of us got gravely ill or injured or the impact of a crop failure.
If I got to meet the 35 year old Trixie when I was the little 7 year old Trixie I would have thought I was so rich you couldn't imagine. We have an indoor bathroom with toilet paper (read this), we have a furnace for heat, gardening, hunting and fishing are not a necessity for survival, we have hot running water. Really, what more could you want?
I think growing up thinking the basic necessities makes you rich, has dramatically shaped my view of money and possessions today. I don't really ever feel like we need more and therefore seldom feel the need to buy stuff that isn't truly needed. As a matter of fact, I think we could easily do with less. Sometimes I just look around our home amazed; we have so very much! Yet when we have to do without something or get to comparing ourselves to others it's so easy to start feeling sorry for ourselves; isn't it?