Digging a Little Deeper
Now that we’ve taken care of most of our “big-ticket” items to improve our savings, Dan and I are trying to tackle the smaller ways that we can find extra dollars in our budget. Not only is this important for increasing our savings to maximum levels but it also is helping to prepare us for living more frugally while cruising. If we want to have any kind of decent chance at living on $1000-$1500 a month than we have to get serious about knowing where each of our dollars goes and how to cut that down as much as possible.
The tracking part is made much easier by the online financial website that we use: Mint.com. We have all of our bank accounts, credit cards, loans, and investment accounts tied in so they automatically update whenever you long in. We’ve used this program for a few years and we’re pretty happy with it, though it can be a lengthy process to set everything up and figure out what budgets you want to set for yourself. Once you have been using it for a couple of months, it can really help to show you where your money is going every month. For some time now, it has been giving us a pretty clear indication that we have been spending too much in the Food and Gas departments, so we’ve finally decided to get those under control.
Food was first and it was somewhat daunting to me to be honest. Not to play the martyr working mom bit, but it is really hard to provide home cooked meals during a working week. There’s just not enough time to be able to figure out what to make every day and go pick things up from the store so I had to find a different approach. A couple of weeks ago I mentioned that we have purchased a subscription to 5meals1hour.com for five dollars a month. Well, we’ve completed the first months’ worth of recipes and I can honestly say that we are way ahead of where we were last month, but I can’t give all the credit to the menus. We only used about 1/3 of the recipes on the menus, but we have still been eating at home on average of 5 days a week, which is a huge deal for us. I think just the change in mindset about grocery shopping every two weeks for actual planned meals has been the biggest positive change that 5dinners1hour has made for us. We can still improve a lot in this area, especially because I’m not a very experienced grocery shopper yet so I think we’re paying too much for our groceries, but we’re seeing a definite change in attitude and habits.
Gas spending is our other cash hog. Like a lot of people we know, it’s just something that we haven’t taken seriously before. But looking at our accounts, we have spent almost $1300 in gas alone since February 1! That’s averaging $18.50 per day, yikes! Here are a few strategies we are implementing to help us cut down this silent killer.
- Drive less…obviously. Eating meals at home isn’t just saving us money in the food department, it means less driving too.
- Walk and Ride Bikes, and not just for leisure riding. Dan has started riding his bike to work most days and we are planning to use our bikes for trips to the grocery store, library, and other close to home errands.
- Get rid of the gas guzzler in the driveway. We’re still working on this one, but the goal is to eliminate one of our 15 mpg SUV’s for a 30+ mpg compact car. Even if we have to spend some money over the sale of our Jeep, we should get most of it back in the end when we sell it in a year. This one has the potential to save us in the realm of $250/month!
Hopefully, we’ll find some good success using these strategies and find others to help us keep our everyday spending in check. If you have any suggestions, let us know in the comments!