My husband is a manager of a medium-sized division of a much bigger company. Over the last week, about 30% of the employees have come up to him or his deputy to ask about the security of their jobs. Of course, everyone is concerned about the economic situation (both macro and micro) leading up to this holiday season. The news he can share is partially reassuring--the company is not planning to cut personnel, but raises will, quite simply, suck this year. They won't keep up with inflation, and of course, health care expenses will rise as well. That translates to less money in ones pocket, but at least its a job, and a fairly secure one at that.
Personally, I'd rather them do that than lay off people as many of the employees are people who have worked with my husband for years and years. We know their spouses and kids. They are more than just numbers.
That news, combined with the massive hit our college funds and retirement savings have taken, has led me to feel somewhat less secure financially. I've made a commitment to building up our cash padding. They tell you to have six months' worth of expenses in cash and we're nowhere near that. That is my goal for the first four months of 2009--to get closer to that six months' worth of cash on hand.
So, I'm reworking our family budget accordingly. I think I'm going to cut out a planned spring break trip. I have reservations at the Grand Canyon (made a year in advance) and had not bought plane tickets (they were $600 each). Now they're $300, which is darn good, but I don't feel like I want to spend that money. For the first time, we're not swapping gifts with my husband's family and I've made a strict allocation for how much to spend on the kids this season. My husband and I don't usually buy each other gifts, but we make a large purchase for the household together and that could be eliminated (although I'm not sure how much longer my fridge will keep going). We were looking at a private middle school for our older son, and I think we've decided that's not financially feasible. I'm trying not to cut out my charitable contributions, but that's a possible area for some savings if I feel desperate.
In little ways, in daily expenses, I've already cut down. I no longer buy Starbucks coffee or iced tea. I try to limit eating out to one meal a week, plus one weekend morning of donuts or kolaches. I buy cheaper cuts of meat and make sure to use leftovers. I'm going to the library to borrow books instead of buying them. I've refused to renew magazine subscriptions. I think we're going to eliminate the movie channels on our cable package (but I'm keeping my cable and Internet service). I know there's probably other ways to save. Any other suggestions for creative cost-savings from blog readers? Post them in the comments and we'll help each other out.
Now, do you think I could ask my kids to quit growing so that I wouldn't have to buy new jeans for them?
Subscribe to:
Post Comments (Atom)
5 comments:
All of your money saving ideas are great. I have been a big cheapskate my whole life, and here are some other ideas:
Rent movies instead of going to the theatre, only eat out using coupons and drink water, ask friends and family for their kids hand-me-downs (and use thrift stores), do your own lawn and pool upkeep; don't use a service (also goes for most home repairs) and make sure all your errands are planned out according to location to save gas (a BIG one for me).
I always plan out meals for a week at a time, that way I know just what we are eating each day, it usually amounts to only one trip to the grocery store a week, and we have just the food we need, no more or less.
You could totally get rid of cable and just watch PBS. Honestly, what more could you ask for than Charlie Rose? MO5
All of these ideas are good ones. We just moved and I have been going through my stuff, knowing this is a good time to get rid of stuff that hasn't been used in awhile. Usually, I just take whatever I don't need to the thrift store but now I am thinking of saving the better stuff for a garage sale and the even better stuff, I am selling on ebay. It feels good to part with some of my stuff and see it go to someone who appreciates it. Nice to get some cold hard cash too!! ;-)
I really identify with that first comment---I, too, have been a big cheapskate all my life :o) It really helps at times like these. I cook everything from scratch; make almost every gift I give; shop at thrift stores; we do everything that we possibly can ourselves, and so on. We rarely eat out and I have never bought anything at any espresso stand. (I SAID I was cheap!) We've stopped even renting movies-----now we check them out from the library. And I've stopped going places just because I feel like it, to save gas.
I heard a penny pinching idea today. Instead of drying your socks in the dryer, save the electricity and lay them in front of the fridge. The warm exhaust will dry them!
Post a Comment