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Examining One Family's Stay at Home Budget: Part II
by Cheryl Gochnauer, Homebodies.org

"Have you considered sharing your 'stay-at-home mom's tight budget' with your readers? I would be very interested in reading it."

This e-mail message from a working mom who recently made the jump to home set the stage for our current Homebodies series - an inside look at how the Gochnauer family manages to survive on one income. Here are some more ideas.

Our family banks at a credit union, where we have no-cost checking. I buy our checks through the mail, from whichever company presently features the lowest cost -- usually, about a third of what banks are charging. When we need a loan, we shop a variety of financial institutions for the lowest rate, then ask our credit union to match it.

We paid off, then canceled, all our credit cards except one. This major credit card is at a competitive fixed rate, and has no annual fee. We strive to use our card only to the extent that we can pay it off each month, thereby avoiding debt and interest charges.

If you are presently paying an annual fee and have an excellent credit history, call up your lender and see if they will waive the annual fee. Competition is fierce, and you'll probably be pleasantly surprised by their response.

Our utilities are on level payment plans so we don't get broadsided by high bills generated by July's heat or January's freezing temperatures.

We take advantage of "buy in bulk" opportunities on everything from frozen foods to Internet access service. Sending e-mail messages to on-line friends and associates instead of calling long distance or using snail mail saves us a lot of money each month.

Fill out and mail those rebate forms. Shop at grocery stores that double coupons, especially those that also double the 50-centers. Between coupons, special discount cards and store promotions, I save at least 30 percent, feeding a family of four on about $80 a week.

I comparison shop on everything from shoes to appliances, and garage-saling has become a passion. This past Saturday, I spent $7at a handful of sales and came home with a pair of nearly-new name-brand jeans, 7 trendy bead bracelets, 6 character T-Shirts (Tweety, Pooh, etc.), and 2 Beanie Babies my girls didn't have. Needless to say, I was a hit with my kids, and all for less than dinner at McDonalds.

With a teen in the house, I no longer pay for babysitters. But I seldom did when my children were younger, either. Instead, I teamed up with two other mothers and we traded free babysitting. A film fanatic, I've been known to trade typing services for show tickets. I choose matinees over evening shows (saving several dollars per ticket) and favor theater chains that have discount cards or special discount days. For instance, AMC Theaters provide free popcorn on Wednesdays for those of us with AMC Movie Watcher cards. So guess which is my favorite day to head for the theater?

I only go see movies I'm dying to see. All others, I rent on video -- when specials are running at the video store -- 2 for 1 Mondays, etc.

Whether minding our manners at a sit-down restaurant or pigging out at the local buffet, the Gochnauers use coupons, discount cards or Entertainment books. Get to know the policies of your local restaurants; i.e., "half-price Tuesdays" or "Kids Eat Free on Sundays". Sometimes it can be cheaper to eat out than cook at home.

I buy the Sunday paper, but only for the coupons. The other days of the week, I read the paper online at their website. I don't purchase magazines I can check out at the library.

Networking is important. Find out whose brother-in-law works on home computers; whose friend knows lawns; whose sister holds a once-a-year primo garage sale with upper-class outfits going for a couple of dollars.

Don't pay someone else to do something you can do yourself. Learn to maintain your automobiles, do your own taxes, perform your own repairs. Wear out your library card, checking out "how-to" books.

By applying thrifty principles throughout every aspect of your life, you'll be surprised how little you can live on. And when it comes time to splurge on something that's just pure fun, you won't feel guilty -- it'll be your reward for being such a good steward of your finances. 

If you'd like to read other Homebodies articles, visit Cheryl's website at Homebodies.org.

copyright 2003 by Cheryl Gochnauer - All rights reserved.

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