One Family's Journey to Debt-Free Living
The month of March always brings many celebrations for our family and therefore it is one that is the most difficult for us to save money. But, we are always up for a challenge and we tried our best.
Here are some of the ways we saved money last month:
1. We discontinued our fruit and veggie delivery again for this month. I am still missing those weekly deliveries but we are trying to remain gazelle intense on paying off the mortgage so this had to go.
Throughout our years together, Mr. SF and I have lived a rather frugal life. But once we were blessed with children we had to learn how to make our money stretch even further.
We had all the regular bills, housing, utilities, food, transportation and on top of all of that lots of medical bills, so when it came to Christmas, I had to be creative. I wanted to make sure we focused on the true meaning of the season in a very budget friendly way.
Now that my kids are older, Christmas looks a bit different, but we still enjoy many of the ways that I wrote about in my book, Frugal Seeds Christmas Edition, 101 Ways to Celebrate the Holiday Season on a Budget.
You can buy it on Amazon or read it FREE with Kindle Unlimited.
We did it, we completed the low-spend February and now that we are on the other side of it, I wanted to reflect upon what we learned as a family through this experience.
We saved a total of $285.00. That’s it. Why? Because we figured out this month that we truly are Seriously Frugal. If you look at this recent post, you’ll see that we are pretty hard core about saving money in all aspects of our lives. There is only one area of our spending where we could cut back, and that would be groceries. But, we eat at home almost almost 100 percent of the time and, with 4 teens, food goes fast. Plus, living with chronic illnesses, many of the less expensive foods, like grains or packaged foods with lots of additives or preservatives, I simply cannot eat.
Continue reading “Reflection on our low-spend February”This month is our Frugal February and we are on a mission to spend as little money as possible this month. This got me thinking of free things we could do and reading was one of my first thoughts. Since we are trying to spend so little, I didn’t want to even drive to the library to search for some good reads. This encouraged me to search for finance and success focused books that are free to read on the internet. I was shocked at all of the great reading I found and wanted to share it all with you!
If there is a book that you have read that encouraged you in your financial walk and is free to read on the internet, please leave a comment below, we would LOVE to share it.
Continue reading “February’s FREE Financial Reading”Recently, we shared our perspective on the first baby step. As you might have guessed, we aren’t in lockstep with Dave on Step 2 either. While we agree that, after having enough saved up for an emergency, tackling debt is the next logical step, we’re not rigid adherents to the debt snowball process. If you are reading this post, it’s probably safe to assume you have heard this term numerous times but, just to be sure, the process is to pay off your debts working from the smallest balance to the largest.
First things first. If you owe the government any money, you should strongly consider taking care of this first and as soon as possible. Owing the government is not something to be taken lightly as any government — be it federal, state or local — has the power to completely alter your life, and in some cases destroy it. Clearly, this is priority one. To be clear, it may not be necessary to get such liabilities paid in full immediately (i.e. you may be able to work out a payment plan), you definitely want to never miss a payment, especially if you’ve worked out a special plan.
I will pick up a penny off the ground and I am not too proud to admit it.
The other day, I was walking into our bank and I saw a penny on the ground. I asked my teenage daughter if she would like it, and she said, “It’s not worth picking up”.
On the same day that we ventured out to a bakery outlet we also made a stop at a discount market. Although it’s called a discount market, I think a better description for this place would be “salvage grocery store”. The store sells food that is past its “best by” date, or that has cosmetically damaged packaging. While many of you may be put off by the idea of buying food “seconds”, Mr. Frugal Source and I have been purchasing food in this manner for years from several different stores and we have never had any safety issues with any of the food we’ve purchased. We are careful what we buy, making sure the package is completely sealed, cans are not too dented and items are not too far out-of-date for our taste.
Everybody likes to save money, especially those of us into pinching pennies. If you’re like us, you’re always looking for new and interesting ways to stretch your dollars. We recently found a “new-to-us” way to save some grocery money when we learned of a couple of bakery outlets in our nearby city. This time around, we decided to stop at the Aunt Millie’s thrift store as it was the closest to another planned stop.
If I was to take a couple of hours and add up all of the money that we have made since we were married all those years ago, I would look at the total and throw up. Yep, I would literally puke and wonder where in the world did all of that money go?
We have always lived in a decent houses in safe-ish neighborhoods, had clean and mostly decent clothing, and have driven reliable vehicles. But when you look at the debt we have been in and how long it is taking us to get completely out of debt, I realize we do not have lots of great memories to show for our money woes.
Before we start sharing the details of our story, it seems appropriate that we should first introduce ourselves, and give you a little background into who we are and why we started The Frugal Source.
We are a family of six; we’re a mom and dad with 4 teenagers, several rescue pets, and some backyard chickens thrown into the mix just for fun. We live in the Midwest of the United States and are a one income family. There are many reasons for this, and we will explore each in its turn as we share our journey.