Is it possible to be low income and save money? - Page 2

[llamalluv]

Originally Posted by amyamanda

This is why I never take my kids to yardsales or thrift shops. I try not to go to them either, because I will spend money if I do, and I'm better off networking for what I need (freecycle, word of mouth, etc). If I do make a rare trip to one or the other, the kids stay home or with another adult in the car. Otherwise the begging/whining gets to me, or the guilt over not getting them something (I freely admit this is my way of managing MY issue, not theirs, LOL).

Just as with a regular store, when you yard sale, you need to have a list and a budget.

And, just as with a regular store, when your child whines for something, you ask them where their money is.... "Oh, you forgot it? Well, then I guess you can't buy anything today."

[Blooming]

Originally Posted by ChetMC

It's possible. It just takes a lot of motivation, creativity, planning and time. I lived on about $14,000 a year when I was in grad school. Out of that money I had to pay tuition, buy books, and cover all monthly expenses. I was careful though, and always saved enough to buy 4 to 6 round trip plane tickets a year (usually $600 to $800 each)

Now I find it really frustrating when people I know complain about money when from a mile away I can see how to trim their budget. However, I remind myself that it took a fair amount of effort, creatively, time and restraint to live the way I did then. You have to really want to do it.

So many people just don't have the time to put into saving money. Meal planning, comparison shopping, researching free activities, tracking what you spend, digging through discount bins, planning next year's clothing around this year's sales... it all takes time. However, as a SAHM I have the time to put into it.

This may be where some of our problem is. We are able to not eat out, find free things to do, get deals on clothes and shoes about 50% of the time.

We can be better about tracking what we spend.

I can't do to much of the bargain hunting as I am disabled and my husband needs to work as much as possible. So this will often mean posting on freecycle to see if someone has what we need and if not ordering online.

I think my next step is to sit down with DH and see what we can do. Right now I just don't see where other then food that we could trim. (We already cook mostly from scrtach as I am gluten free.)

[madskye]

Not as much advice about your budget/cutting costs but this is very basic advice for savings on a shoestring:

Save even a tiny bit each month. $10 saved is better than nothing, you are modeling saving to your children, and you can increase the $10 to $100 when you can do it and pay your bills on time.

Save first. Put that $10 in a savings account or envelope and take it out of circulation.

If you do find ways to cut your budget, put that $$ right into savings--don't then spend it on something else.

[KaraBoo]

I remember someone telling me, "Pay yourself first" and it stuck with me for years afterwards.