Is my family taking on too much?
Not sure. But we need to make it happen because I have 2 student loan payments coming due and we don’t need the additional payment (nor have the additional funds to do so). It’s time to apply Ramsey’s Gazelle intensity.
You just read about goal one.
6 weeks of sending $35 of our weekly cash allowance to PIF our Best Buy account. PIF Best Buy card = beat the 0% APR deadline and that CC payment is now the Student Loan’s 3.125% payment.
Goal Two: *NEW*
18 weeks of sending $185 of our net salary to PIF 3 CC accounts (PIF 3 CC accounts = beat the 0% APR deadline on one card, the other 2 CC payments is now the Student Loan’s 6.8% payment.)
$220 sent for 5 weeks
$185 send for 13 weeks
HD – $1000 – 0% APR deadline 01/2010 (+ we won’t have another payment)
FFCU – $1445 – $59 payment
Kohl’s – $900 – $37 payment
Equals $96 payment to go towards Student Loan 6.8%
See, now we will have that extra $89 payment needed.
How we plan on doing it:
I came across a wondeful and funny blog called, Coal Creek Farm. The wonderful Chicken Doctor and her husband challenged themselves not to eat out for 3 months. (Check out there other wonderful tips on the sidebar numbered 1 – 4)
So, I talked to DH about it and we decided that we can do this.
- No eat out for 5 months (means I have to pack lunches now – that’s gonna be a toughie)
- Plan a stealthy grocery list
- No AC use – gonna be tough in our hot oasis
- Make sure lights are off when not needed, etc..
- Nickel & Dime it – learn to say “no” and throw ads out immediately
- Mend the clothes and make them last – school supplies on the inexpensive side
- Sell unwanted “stuff” in the house – just listed 12 books on Half.com this weekend
- pick up OT – not sure if possible
- Have anyother great tips? – Could definitely use!
Its gonna be a tough goal especially with school starting soon and the holidays coming along. I am already thinking about Christmas – thinking about making small boxes of homemade truffles or a set of knitted kitchen dishclothes tied with a ribbon and an inexpensive knick knack. I still have $500 left of the summer fund for school clothes and Xmas – gonna have to make it stretch (far). I sure will be looking to Rachel for tips!
If you haven’t checked it out already – I started a new blog: My Crazy Thoughts. Although short in content, it will be my pad to talk about all other non-financial.
Very ambitious! Good luck to all of you!
I like the way you scratched it all out on paper until you found a way to make it work.
It’s a wicked goal! Thanks. I think writing it makes the goal more realistic.
I will be cheering you on for this and definitely looking for Christmas gift advice, as we will not be on an austerity budget since needing a new heating and air condition unit. We are dying here without air conditioning…how are you going to do this?
Very inexpensive Christmas gifts…. trying to come up with ideas. If I do the Green present of knitted dishclothes (bought from Etsy – I don’t knit) and tie it with a ribbon and cookie cutter then it will be $10 a gift for family. Co workers, I can bake cookies or do small boxes of candy. The children are the difficult ones. But I kind of have the frugal Christmas ideas going because ‘we need to save money for Hawaii’. 🙂
What are the ages of the kids that you buy for? I have found great coloring and sticker books at the dollar store. Also, if you have a Books A Million, they have a great book clearance section for all ages. You can get some super bargains. Online too.
A magazine subscription is another idea. There are all sorts of website where you can get heavily discounted magazine subscriptions.
My nephew, who is nearly 6, LOVES books on anything science related (rocks, bugs, snakes, germs, you name it). I find him really cool ones at used book stores. He could care less if they are used and just loves them. He’s super happy and I don’t have to spend very much. Win-win!
Ugh, the thought of planning not to eat out for 5 months would kill me. But, realistically, I haven’t bought my lunch in over a month now and it actually hasn’t killed me.
One year, for Christmas, we all gave people things that we already owned. A lot of it was books, some of it was clothes and knick knacks. this worked well for my family because we live in three different states and don’t see each other all that much so it’ didn’t end up feeling like someone got up Christmas morning and wrapped the first thing they found on the dresser.
It’s gonna kill me to. And no cheating either! LOL. Like sneaking for a bite and not telling the other. Gonna be interesting.
I was thinking the same. I have a french press from last year still in its box. Might be a regift. Thanks for the idea!
rooting for you chica! the end results will be so worth the current discomfort. you can do it. you have everything you need to win: determination, dedication and a detailed plan!
Ya, and I think I am crazy for coming up with it! But, you’re right. I do have all that I need. Now, how am I going to make this technically work?
Oh ya, I just made $17 on Half.com. And I just listed the book, too! 😉
Great goals Christina! How old are your kids? Can you get their school clothes at consignment sales? That’s one way we save big on clothes and shoes and the one I just went to has kid’s clothes all the way to adult sizes.
Another way we save at Christmas is to draw names for gifts for the adults. Everyone wants to buy for the kids, so we don’t count them in the name drawings. We use http://www.elfster.com to do the name drawing and people can put a wish list too. You decide on a $$ amount limit that everyone must adhere to. It really only works if everyone is agreeable. We do it on both sides of our family and it makes for not only a less spendy Christmas, but also far less stressful.
And living without AC is not always fun, but definitely doable. We did it in Australia for 3 years and it gets SUPER hot and humid there in summer.
You can do it!!!!
9 & 15. They just aren’t going to get named brand. And if they want something special then they will have to rely on their allowance. The school supplies… not to worried about. They just don’t get the frilly 3 ring binders.
And the clothes. They have enough clothes. I know they want new… so I will probably only buy them a one or two new (non name brand) pants and shirts. I don’t like to buy alot anyway because they grow so darn fast. I like to buy every 3-4 months. to keep up with the growth spurts.
Christmas, I may just use that elfster link for coworkers and family. That or I am going to be cookie baking or truffle making.
Its the kids we tend to go crazy on. LOL! That is where we need to keep our budget on hold. Like they need anymore stuff!
Thank U for all the wonderful tips and the elfster link.
you can do it!!!! we are totally 100% behind you to support you!!! Wahoo!!!
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