as most of you know, shortly after we got baby j, and my right lung died, i decided to be a full-time stay at home mom. this was a plan that had been in the making for about a year (although it happened sooner than anticipated). today, i thought i would share how we made that decision financially possible.
decisions we made (at least) a year before i actually stayed home:
- we put 100% of my paycheck into savings (this was SO important, because we ended up using that money for medical bills. it was a blessing that it was there, but oh-so-sad to see it go).
- before we purchased a house, we did a budget on only my husbands income. it didn't make any sense to buy a house on what we could afford at that moment. always think ahead. always do projected budgets.
- we went down to one vehicle. we sold my husband's car and bought a mo-ped. my husband has wanted one for-e-v-e-r. it costs us about $10/month in gas, and $8/month in insurance. we save about $150 every month by having one car, and it's so worth it. i will also mention that our vehicles are paid for in cash, no payments. that's one of our big rules. (to be honest, we wouldn't be able to afford a car payment even if we wanted one!)
- we stuck to the envelope system. we stuck to a budget. sounds simple, but even one month of veering off of the budget can be an expensive mistake.
decisions we make now:
- recycle. it saves money on trash, and it's free to do!
- off brand formula. this was a hard decision to make. but wow, we were blowing through $40/week in formula. after doing some research, we've cut that in half.
- hand me downs. we RARELY buy baby clothes (or clothes for ourselves). we rely almost completely on friends for their old baby clothes and toys. such a HUGE blessing. also, we have super stylish friends ;)
- brewing tea, bulk coffee, eating at home. no more $2 teas at mcalisters when i can brew my own (not my favorite change). we can't live without our coffee so we grind our own beans as opposed to buying k-cups. and we eat at home a lot more than we did before kids!
- changing dog food. same thing as formula. we did a lot of research and now we save about $15/month on dog food! by the way, good dog food is really freakin' expensive. think about that the next time you accidentally adopt a dog...or two.
- bi weekly mortgage payments. we pay our mortgage every 2 weeks instead of once a month. it gives the bank an extra payment every year, and it helps us to cut the payment into smaller bites so it's easier to budget around.
- my income. i try and bring in at least a little bit of money every month to help. sometimes this goes toward savings, but now it's going toward medical bills. i sell things we don't use, and i also still do freelance design. i try and aim for $200/month extra.
- PICCs. my husband is a certified PICC (really large IV that goes into the heart...gross) nurse, and he's always on call. each PICC he puts in is an extra $50.
- we make our own laundry soap because wow, that stuff is expensive! but we use dreft for the baby, thanks to our friend sally who gave us a full bottle!
- repurposing household items (pillows, etc). instead of buying something new for our house, we find a way to do without, or repurpose something else.
- library!! my favorite thing ever. we never buy books anymore. and the library is a fun way to get out (even for a date night).
- we only go to stores when we need something. if i go to old navy to "window shop" i'm leaving with two pairs of jeans and a scarf. not good.
our sermon at church last sunday was about "slaying the dragon of more" in order to be able to freely give. not living within your means, but living far below them. we so long to do this. our friends and family have been so supportive and helpful over the last few months with medical bills, etc. we hope to one day (after the debt is gone) to be able to give as freely as people have given to us.
hope this post was helpful and encouraging. i'm always looking for fun and unique money saving tips, so please feel free to share!
best,
chelsie
