Living on Less – Choices

I had about 9 months warning that I might lose my job so when I did actually lose my job, we were prepared.   We had saved some money and had paid off some debt.  We also had a plan for living on one income, including a plan to put our youngest son through college beginning the fall of 2011.   Through careful planning I was left with the gift of choices.

Living on less or below your means does not mean living a deprived lifestyle.  Some people look at it as being deprived of going out and being able to buy anything they want at anytime.  I have a different viewpoint.  I don’t really need any more stuff and I have everything I need.  I have food, shelter, clothes and I have more things than a person should own.  My happiness does not come from owning new stuff.  There is one thing that has gotten more people in trouble over the past few years and that is buying stuff they don’t need, to impress people that they don’t even know and putting that stuff on a high interest credit card.

If every time you wanted to buy something, something that was really not a necessity, if you were to say to yourself “I have everything that I need” and walk away, you would begin to feel a freeing feeling.  Don’t tie your happiness to stuff you can buy.

Living below your means has the greatest benefit of all – choices.  When you live on less you can take that dream job you have always wanted even if it has a lower salary than you are earning now.  I have choices.  I have the choice to continue to stay home for the rest of my life or I could go out and get a job.  Having that choice and not feeling bound to a lifestyle that can only be funded by two incomes is the greatest freedom I have ever felt.

Now on to some money saving tips that we have instituted in our life.

Haircuts.  One year ago my husband got his last haircut in a salon.  I was there.  After he paid for the haircut we walked out and he told me that he wanted me to cut his hair from now on.  I was a little skeptical as to if I could do it, okay I was afraid.  I had never cut hair before except on my Barbie doll when I was a little girl and that didn’t turn out very good for Barbie.

We purchased some Wahl clippers that day.  He likes his hair short so I use the #3 comb all over his head and then I trim the sideburns and the back.  He looks just like it was done by a professional.  It is a piece of cake, he likes that when he needs a haircut I can give him one right here at home and it has saved us some money.  The clippers paid for themselves after two haircuts.

I in turn am not going to have him cut my hair.  That is not an option.  I go to the same salon that I have been going to for years.  I have just made some changes.  I used to get my hair cut every 4 weeks and now I am going about every 6 weeks.  I have the same hairstyle, but it is a little longer so that when it does get close to the 6 weeks I simply pull it back with a barrette and I am good to go.  Extending the time between visiting the salon saves money and I am completely happy with my hairstyle being a little longer.

Eating Out.  I know a lot of people eat out several times a week.  I grew up in the 1960’s when eating out, even at McDonalds, was the biggest treat and happened very rarely.  If you want to save a bundle of money, quit eating out altogether or limit your trips to a restaurant.  The average amount spent for a family of four to eat at a fast food restaurant is about $25.00.  At a family style restaurant it can run around $50.00.  We eat out about once a month.  We could eat out more but we really don’t want or need to.  Instead of spending a lot of money on a restaurant meal, I would prefer to pick up a nice steak at the grocery store and cook it on the grill or get a nice chuck roast and cook it in the Crockpot.  I know a lot of people eat out because of convenience but truth be told, it can be just as convenient to eat at home if you plan ahead.  I will save this subject for a later article and give ideas for some quick meals.

Recently I was watching a show on financial matters and there was a woman who had called in for some financial advice.  Basically her family income was short $400 a month of meeting their expenses.  Before the financial adviser could comment on her situation the woman let her know that she refused to give up the $150 a month they spend eating out as that was their only form of entertainment.  So here they were in debt, expecting their third child, unable to pay all their bills and she was letting the expert know her limits.  So the financial expert said that they would have to go down to basic cablevision, drop their land line, readjust their cell phone plan, cut back on what they were spending on groceries and eating out would have to go.  This would free up $400 in their budget.  The woman was very angry at the financial expert and refused to give up what she thought were the basics.

Is eating out that important?  To her yes, to me no.  I’m not against eating out.  However, if you need to reduce expenses in your budget, here is one area that can make a big impact.  Even if you just reduce the amount of times that you eat out per month, it will make a great difference in what you save in money and perhaps lose in your waist line.