a penny saved is a penny earned

One of my New Year’s Resolutions (find ’em all here) is to find and implement 5 ways to save money.  I sat down with Luke a few nights ago to remind him about how small our house is and how we can’t stay here much longer and what if I accidentally get pregnant with twins and why is Noa already the size of a 12 year-old and my closet shelf is sagging and who’s idea was it to make our two kid rooms only big enough for one twin bed and a dresser?  We sort of stared at each other and sort of brainstormed- we could move their dressers into the hall…no…we could move all the kids into our room and turn the living room into our master bedroom…awkward.  Before we knew it it was 2am and nothing productive was happening so we went to bed.  The next morning, we magically had much better ideas.

NEW GOAL:  Pay off 2 debts that we feel are unnecessary- the kitchen floor (here) and the second car. This will free up a pretty solid amount of $$ that we can then use toward renting a bigger house and renting our small house to someone else.
The other part of our new plan is to save money for our cause by cutting back on services we don’t NEED.  This is where my original goal comes in to play, here are 5 ways almost everyone can save:
1. Cable/Dish– we will not renew our dish service when our contract is up in a few months.  We have Netflix and can find our favorite shows online.  We want the dish but we don’t need the dish.  This will save us $40 a month or $240 for the rest of the year.
2. Cell Phone– we dropped our data plans.  I’m a stay at home mom, I can check email and browse at home.  Luke doesn’t need the plan for work, either, so…we dropped it, and we’ll save $20 a month or $220 for the rest of the year.
3. Travel– We’re putting our anniversary trip on the back burner :(  Sad.  But we payed off the floor with the money we had already saved and we still have a ton left that we’ll put toward the car balance.  We’ll also be sticking around during long weekends and school breaks.
4. Memberships– Gym, spa, bulk stores…I dropped a membership that was $50 each month or $500 for the year.  Not all memberships are money-suckers but my massage pass was.  Boo.
5. DIY– I’m going to make the following instead of buying:  laundry soap, dishwasher soap, bread, and I’m going to grow a garden this summer with all our favorite herbs and veggies, which I will preserve to use in the fall and winter.
With our new plan we will have our car paid off in October and will then be in a solid financial position to get out of our cute little home and into a cute bigger home.
 
Remember!!!  If you save a dollar, you have a dollar.  If you increase your income by a dollar, you have less than a dollar because of taxes!

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Comments

  1. not sure why we’ve never talked, but you are hilarious.

  2. Thanks! It seems like we are either on vacation or the kids are sick every weekend…and if we do make it to church, Hollis and I are walking the halls so she doesn’t lose her mind in Sunday School!

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