Reply to SAHMs What Strategies Do You Use to Save Money?

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[quote=Anonymous]The best way to target savings is to do an analysis of your current spending.

Is food a major expense?  If not-move on.  If it is, identify where those spending surges are: fine cheese? Unnecessary snacks? Soda/juice?  Personally, I'd rather spend $$$ on organic than expensive "junk food," and I'd rather eat rice-n-beans (very cheap) than steak every weekend.  So that wouldn't almost no sacrifice for me!

What about clothes?  Who's buying what?  Does someone have a fetish for Lulu Lemon "workout" outfits?  Identify. Budget.

Entertainment and technology:  I know we hemmorage money (that we can afford) on having the "convenience" of cable, Xbox, internet, cell phone use, etc.  If I had to save $ for our family, this is where I'd start.  Cut what you don't need.

Interest-accruing debt:  Credit card APR 14%?  Call them and negotiate it down.  Tackle that debt ASAP.

Holidays and travel:  Where are you going? What are you spending?  Maybe this is something to save for.

Outsourced activities: Lawn service, maid service, home maintenance, whatever.  How much, and is it worth cutting back by doing it yourselves?

Need motivation: Watch Suze Orman.  Yeah, she's got a certain personality that rubs ppl the wrong way (my steak-n-wine-n-HBO-n-Xbox lovin' husband can't stand her), but she kind of puts it to you straight. :)[/quote]

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