As a single parent (or not), keeping your overhead expenses is not only essential, but is first priority. Nothing anal or perfect, so relax. I will be the first to say that I am NOT perfect by any means. Our success means survival for our families.
As a rule, I never pay full price for anything...only if forced to do so will I pay it. Only stupid people pay full price.
Here are just a few things that help me in my situation, that may help you:
Checking Accounts
Some single parents dont have one of these, but here's some info that helps a little.
Don't EVER order your checks from your bank. They cost a small fortune. Its bad enough they charge you for each and every transaction (to access YOUR money), so don't let 'em dig you in this area. Here is a link to order checks. High quality, cheap, and delivered to your door or your bank, which ever you choose.
- ChecksUnlimited.com Only $6.50 a box.... CANT BEAT THAT.
NO credit cards
Ok, lets say you found pants on sale, normally $40 but now only $20. You don't have the cash to buy them, so you just put it on your credit card right? WRONG. With interest, you paid about $100 for those pants on sale. It simply does not make good money management to buy things in this way.
If you are too proud to wear cheap pants or hand me downs, then your pride will make your family suffer, period.
If you don't have credit cards, it truly does bring your monthly overhead down considerably, depending upon your payments. If you can pay them off, do so. If not, consult your local Legal Aid (in the phone book) for options on how to deal with them.
Personally, I don't have them, thank God. Low overhead is the ticket.Hot water heaterI dont care what sort of utilities you use to heat your hot water; a timer will save you a small fortune each month. A timer will allow you to set what time it is on and hot water available to your family.
There are many different types of timers; I prefer "The Little Gray Box". It is simple to use and set. It costs about $40 and will save you that the first month of use (depending upon the size of your tank). It definately pays for itself. To install it, have someone you know, whom does electrical work (for its a 220 line) do it.
Just set it to come on in the morning (if you require hot water for the morning) or at night. The rest of the time, it will remain off.
Many people are not aware of how much electric (or whatever) a hot water heat consumes, and it literally is a small fortune each month.
This little investment is worth every penny.
With the money you save on that expense, you may now be able to afford a phone or even cable :)Hand soaps
Sounds small but with a large family we really go through a great deal of hand soap. I don't use a 'bar' soap for handwashing, only pump types.
This one is simple...just water down dish soap to refill them. No need to buy special liquid soaps, for its a fact that ALL soaps kill germs.
You can find large bottles of this at dollar stores or even the cheap stuff at your local store. You have to water it down or it will be 'too thick', thus making it harder to rinse (and using more water to do so). Water it down.
ORGANIZE
I can't tell you how many people (and families) I know can't find what they are looking for, so they just run right out and buy another. I doubt they work so hard just to have 50 nail clippers.
It is counter productive to your family to just keep buying what you already have.
Being somewhat organized is essential when saving or keeping expenses low.
No need to be anal or perfect, just keep your home somewhat in order. This means you can find what you are looking for in a timely fashion (saving time and money), but also to quickly take inventory for what is really needed.
Microwave or BBQ
It is cheaper to heat things up in a microwave and to cook on the BBQ. Compare the costs yourself and you will see it.
Cleaning
Some store brand cleaners are NOT the same as the name brand stuff. If I use the dollar store or store brand glass cleaner it sure beats nothing, but leaves windows, mirrors and glass top tables looking terrible.
To me, that is counter productive and a waste of my time and money.
Use coupons or buy your cleaners on sale. I use store brand items for most things, but there are some things that save time and money in the long run.
This will be your call, depending upon what your needs are. You know what you have and what it needs.
Toys, etc.
Computers use about the same electric as a light bulb to run. Yeah really. You consume more electric using your coffee maker or toaster.
Toys; there are some VERY cool toys on the market today...most of which are learning toys. But if they take batteries, the cost of replacement is OUT of control. To keep up with replacements will suck your families money faster then a twister. You think I am kidding you? Go price them next time you are at the store. Keep in mind that most toys require 6 or 8 of them...brace yourself, or you'll fall on the floor when you see the prices.
NO, the cheap batteries are not saving you money. They don't last, and in the long run, cost you more money. Anyone whom has a large family has already discovered this one.
Try to buy your kids things that do not require batteries or have an option of adapters to plug into the electric for use.
Boxing paint
Boxing paint is a term used when you take paint (the same type of paint), and pour it into a large 5 gallon bucket to make lots of the same color paint.
Most recycle places have tons of extra paint, with just 1/3 or 1/2 gallon left in each container. Also, you may see neighbors throwing out 'little bits' of paint. Just combine all of it (keeping in mind what color it may turn out to be) to make a whole bunch of paint.
This will allow you to paint or up keep your home for next to nothing.
Repairs
If you don't know how to do your own homes repairs, get your bottom up and go learn. There are books for any subject of repair at the local library. If you are disabled, some groups and organizations do have people who help.
I know, I know...we are lucky if we own a vehicle, let alone a lawn mower. If you dont have one, or your landlord doesnt supply one, simply borrow one from a neighbor and offer to cut their lawn in exchange for usage. Hopefully you have a nice neighbor whom will allow it.
Share Idea's
Getting a water logged thumb is not an option. Get up, make some phone calls to find out what your friends or family does to help save money. Be creative and you will save your family money, which can be used to keep the utilites on :)
Vehicles
It is my personal opinion that buying a new car (or any vehicle) on 'good credit' is just asking for trouble. Most of us single parents dont have good credit (as a direct result of our divorces), but if you do its a VERY REAL, VERY LARGE monthly expense.
I know people who 'have to have' this car, or that truck... then they finance it. The payments can range from $300 to $500 per month. Now add the EXTRA cost of full coverage insurance (here in NJ its required). If you dont know how much the full coverage would be, write down the year, make, model of the car you are interested in and call your insurance company for a quote of full coverage. Better hold on to your chair...
Any new vehicle depreciates in value the moment you drive off the dealers lot. Period.
Of course you have less repair bills, and its more reliable, but does it make good money sense?
Nope.
Add up the payments and additional insurance and I can 100% Guarantee its A GREAT DEAL MORE PER YEAR.
Any Financial Advisor will tell you the same.
Now you know why BOTH parents have to work
(and only an average of 2 kids)
They have to keep up with the bigger house, bigger pools, new cars, expensive clothing, shoe shopping spree's, large/expensive vactions, nothing but the finest MOST expensive (toys, clothing, backpacks, etc) for their kids, boats...
Then they have someone to work on the boat, have to pay to dock it, pay to winterize the boat, pay someone to mow the lawn, clean their pool, open and close the pool, clean their home, babysit, etc. for they are exhausted from both working full time. Its a cycle for a lot of families... and they are teaching their children to be materialistic. They dont even realize it. Sad but true.
COUPONS
yeah yeah yeah, you knew this one was coming. coupons save more money than anything else at the store. They are better then any 'super card' program they have and any sale you catch.
But if your good at it, you look for the sales, then use the coupons on the sale items. WOW. You can save an obsene amount of money if you just take the time, surf the sales and make a list:
1. Make a list of what you need.
2. Make a list of whats on sale.
3. Keep in mind, if you have multiple coupons for items that are not perishable, and that item is on sale, try and find a way to buy lots of them (or the limit your allowed to buy). It will save you money in the long run.
And if you do this weekly, or monthly (weekly saves you more money, for different sales run each week) you will help your family considerably.
Try this site too, she has GREAT tips, ideas, etc. to help save money.
News, newspapers, subscriptions
If you have cable tv, and the internet, why on earth would you pay for a newspaper? Its all online. Its all on local channels. Yes, I love to read, and the internet has more then its fair share of reading material and then some.
One thing I can not stand, is magazines today. If you sit down, page through them... now count each and every advertisement in them. THATS RIGHT! More then half is commercials.
Books. Now books are worth a payment, then again, the library has them free... you just have to give them back, thats all. Sounds fair to me, then again, its just my opinion. *GRIN*
- allthingsfrugal.com WOW!!
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