Pinching pennies

 

I can't think of one person that isn't carefully watching their money right now.  Everyone I know has been affected by the current state of our economy.  Whether it be a lost job, a reduction in hours or benefits, the higher price of things.

While I think I am a fairly conservative with my money I can be a bit of a spendthrift in certain areas.  Like magazines.  Is there a 12-step program for us magazineoholics?  And craft supplies.  I amass stuff and then do nothing with it. 

Late in December I decided to sit down and draft a budget.  I went through the year's spending and figured out how much certain set expenses were (cell phone, cable, car insurance, etc.).   Then I figured out how much I was spending on groceries, shopping, rubber stamps.  Ouch.  I figured the set expenses are pretty hard to pare down without getting rid of them all together (we haven't come that far yet) but in other areas I could vastly improve.   

I started my budget on January 1st.  I just spent the last of my gasoline money yesterday so I'm good for the month.  I am over my grocery budget by $68 already and we still have four days left in the month (we will presumably want to eat on those days).   I'm trying to pare down my cellphone charges and I'm headed in the right direction but I still went over by $40 this month.  

I have implemented a 'no tossing a magazine into the grocery cart' rule.  If I want a magazine it has to come out of my $20 a week allowance.  Which is also for the occasional lunch out, craft supplies, non-essential beauty supplies, that sort of thing.  It's a good thing I don't have a Starbucks habit.

I give myself a C+ for the month.  I think I'm on the right track anyway.  I do have some areas where I can improve - like better meal planning which should help the grocery budget.

I have to admit I'm kind of enjoying myself.  I think that comes from a feeling of taking control.  While I certainly can't control the economy I do feel good that I'm taking steps to improve my own situation. 

(By the way - the quilt in the picture was made by Nicki and I think the pattern is called Pop-Beads.  I love the 30's repo prints and I think it is a perfect backdrop for a post about saving and economizing.  I'm feeling a bit 30's-ish lately.  Next we'll get into the 40's and talk about Victory gardens....)

Comments

[Kim]

I have a website where I give away something every Monday if you are interested. My husband has a decent job (I posted about it a couple of days ago) and we decided to do a giveaway site as long as we can. We give away something every Monday and one big thing a month. We pay for this stuff out of our own pocket and will continue to do so until it's no longer possible. The address is winsweetstuff.com.

[cindy~my romantic home]

I keep my laundry money in that same jam jar!!! I really need to cut back on my spending too! It's so hard to do though!

[Melissa]

One way to save on magazines is to subscribe to them. If you look carefully on ebay and at the sites for the magazines themselves, you can often find a year's subscription for the cost of one or two issues of the magaizine in the store.

Another money-saver is to look for the magazine's website and glance through their online presence. Most of them have great articles online as well! :)

Melissa in FL

[Sherry Ford]

I can really identify with a weakness for magazines! I subscribe to most of them and the cost is fairly low but, since I'm also on a mission to declutter, I have to admit that they seem to accumulate and form great stacks all over the house in an amazingly short time! My husband doesn't understand my addiction but it seems to me that people are either magazine lovers or just don't understand those of us who are. Good luck with your budget!

Sherry in Little Rock

[Karen K]

I think you are going great! Being aware is at least half the battle!

You can check with your local library to see if they carry magazines...a lot of them do. Also maybe you and your sisters, nieces can have a magazine exchange. Each person can subscribe to one magazine and after you read it you exchange with the others in your exchange. You can donate them to the library when you're done or at the very least recycle them.

[Alison]

I LOVE to buy magazines, so I know well what you mean. I have also put a stop on purchasing these and have been to the book store to flip through a few without buying on only one occasion this year, yes, it helps that we are still in January! I refuse to look at the magazines while standing in line ate the grocery store. Good luck!

[Cheryl]

I so love magazines . . . I used to subscribe until I realized I was getting 18 different ones every month . . . who can possibly read all of those . . .

so now I only get 2 in the mail . . . I do look at them in the store but they have to pass my "3 things" rule . . .

they have to have 3 things in them that I am sure I will make . . . or articles I can't live without . . .

if it doesn't pass the "rule" . . . I can't buy it . . .

UNLESS . . . I am on vacation . . . then all bets are off ! !

[Janelle]

My husband and I keep making black jokes about starting our giant balls of tin foil and string in preparation for the Depression...!

I think you're on the right track with your budget, and I'm sure you'll do better next month. It's always a learning curve, making those kinds of changes. I had a hard time weaning myself off magazines, too!

[Mimi]

Lamentably, most of my favorite magazines are folding or have folded. So I have been saving money there.

I save my euros in Bonne Maman jars, and my U.S. currency and change in Yankee Candle jars. I am down to only 10 euros but way up in dollars.

[Patricia Eaton]

Well, being retired tends to teach you a few things about money, so I was already trying to 'watch' my spending....even more so now. And, those magazines...oh, my! I love them so, but I am getting pickier about which ones I spend my money on. Now, this blogging thing is certainly helping me cut back on my "entertainment" dollars....I can spend HOURS looking at my favorite blogs......such as THIS one!! Love your posts! Pat

[Linda]

I too am addicted to magazines. I have saved everyone of them and the stacks are overwhelming. I have cut down to 2 subscriptions. Since I started keeping a visual journal, I am now going back through them and cutting up the pages. Sounds like you have a great start on the budgeting.

[Sue]

We use Quicken on the computer, and that has really helped keep budget stuff in line. My current weakness is buying old jewelry boxes and bling lots off ebay. My goal is now to start using some of the massive amounts of stash I have accumulated (to justify the replenishing moments, of course!). I mean really, how many boxes of vintage lace bits and stacks of fabrics, buttons, jewelry bits, trims.... does one need? (don't answer that!)

Sue in icy Maryland

[sara]

Domino magazine is goign under, MY FAV!, and so I won't need to worry about keeping up my subscriptions.

[Diane Matheson]

Good luck with the budgeting. I'm soooo tempted with fabric, trim, beads, books..... You've inspired me to cut back so I'm going to give myself an actual limited amount of spending money and see if I can stick to it. (Anything I sell will be extra spending money.) I'll begin the first of February. This year.

[Elizabeth]

Does anyone know what happens to the existing subscribers? I have both Domino and Country home :( Everything seems to be going to hell in a hand basket doesn't it!

[rita]

Ciao Andrea,
first timer on your blog. Magazines...I had to stop few subscriptions untill I went to magazine.com check it out.For ex. House Beautiful $5.00 a year. if you need, I mean need to go to michaels orto jo-ann, I wait for my coupons everyweek. I get them on line so sign up and as you probably know Jo-ann takes Michaels coupons too. Ciao Rita