<p>We tithe. 10% of our income goes to our church, then after that …0ur basic strategy was to never purchase anything unless we had the cash to do so, except for our mortgage. The first car we got we did take a loan from H’s parent (w/o interest), paid it off very quickly, then continued to pay ourselves into a saving account the amount of the car payment so that when we neeeded another car we had the money to pay for it. We are a one income family; I have always been a stay at home mom. So, as H’s salary has increased we’ve tried to not increase our standard of living. We save for every “home improvement” we’ve done, so we’re always behind the rest of the world on getting that big screen HDTV, etc … (As an example our big honkin’ box tv no longer worked with a remote, much to chagrin of kids, but the unit tv still worked. We didn’t get a new one until the sound and pic was leaving). Such joy there was in mudville. Kids know that Mom goes to clearance rack before any other, I cook basically from scratch to keep down food costs, and we don’t have cleaning help. After S got a job his senior year of h.s. (he was the paid yard help, of course with a family discount), we did splurge and hire yard guy to cut grass. That 3 hours of sweatin’ in FL heat was just one chore my H did not want to go back to. LOL</p>
<p>From 2002-2008 every single one of our parents lived with us in our home, and I was their fulltime caregiver. Because I was a stay at home mom and would not be losing an income, I was able to take care of each one fulltime. Mom (early onset alzheimers, was the last to pass in 2008). Being able to do this (which we are aware is a blessing that all families are not able to financially do or handle), kept their expenses to a minimum and none of our families had to absorb huge medical/nursing home costs like some families do. Thank goodness for medicare and hospice. </p>
<p>There was some “inheritance” after our parents’ deaths, and we are supplementing our savings with that for college/post grad education. We do splurge a bit more than we used to … not always taking a vacation at a family members home in a different part of the country, lol. But I work the system when it comes to frequent flyer mileage and credit card points (and yes, we do put everything on a credit card and accumulate points, but we use it in ours minds as a debit card. I would not suggest this method for anyone but the most disciplined). So, as an example we just went to boston for six days. All 4 plane tickets were free, and one of the two hotel rooms we had for the vacation was free. Keeps costs down considerably. </p>
<p>There’s the diet and exercise thread in the Parent’s Cafe. Cutting out sugary drinks and going with water can save a fair chunk of change at the grocery store and perhaps in later hospital costs.</p>
<p>and cawfeeee. Knock out the starbucks caramel lattes and there is quite a savings there. But it really is up to each family to prioritize for themselves where the cutbacks should come from. The idea isn’t to suck dry all the little pleasures of life by saving money! We’ve always enjoyed ourselves just fine being fairly frugal.</p>
<p>We finished up with tuition payments in spring 2009 - yay!!! Now we’re refinancing our home mortgage to save more money for retirement, figuring that we can relocate at that time to a more affordable area. :)</p>
<p>We haven’t cut back on small ticket items but have been good at deferring big ticket items. Carpet needs replacing? It’ll have to wait till the last tuition payment. We usually keep cars for a decade or longer. Everyone else on the block has remodeled, but we’re hoping that 1980s chic will come back into vogue.</p>
<p>We also tried to clear the decks regarding debt as we neared D2’s time for college. No house or car loans. We put what used to be our mortgage payment into an account to pay for college.</p>
<p>With luck, we’ll be able to get through 3 more years of college costs. Could not have done it if we had had more than 2 kids. Hats off to all those with bigger families who have managed to educate them all.</p>
<p>Ditto, learning to live on one salary. I work part-time and it all goes to tuition, room and board. Cars are paid off, refininanced mortgage, cutting $500 a month in EC’s (both kids are musical theatre), cut gym membership, cable, abd other extras and we’re doing just fine. Seven years from now, after both graduate - my extra income will be “fun money” for me and hubby. Looking forward to that 2nd honeymoon in Europe!</p>
<p>I pay cash for everything except the mortgage: if I don’t have the cash, we don’t get it. We’re a one car household - which results in lots of shuttling here, there and everywhere, and kids waiting around school until 5:30 or 6:00 for an after-work pickup if they can’t get a lift home from someone, but they’re not complaining (too much). They have lots of after-school EC’s which helps. I don’t buy new clothes unless I really need something (shoes are starting to fall apart, need a new shirt for a job interview) and S and D don’t mind sticking with a basic wardrobe (and two pairs of shoes each). Before I was laid off and took a huge pay cut, I resisted the urge to upgrade/expand our house, which means that though we have one of the smaller ones of our friends, we can keep up with mortgage payments during difficult times. I cook dinner almost every night: pizza is a special treat. Most importantly, I started saving with automatic monthly deductions from the time both kids started school - sometimes more than others. Without those savings, all of the other penny pinching would not have been enough.</p>
<p>on a similar note to BCEagle, we make unsweetened iced tea which is cheaper than soda.</p>
<p>bringing salad (from the garden) for lunch more often is also saving on $ and more healthy than cafeteria lunches.</p>
<p>since D is away at summer camp and will be away at college, we have changed her coverage on our car insurance to infrequent driver and saved $ on her car insurance.</p>
<p>Most Americans live without many of things listed here as items that were “cut back” on. </p>
<p>We’ve been lucky enough to make it work. I know a lot of families where both parents work full time jobs who are still barely making it, let alone in a position to “free up” money by cutting back on having someone else clean their house or not take vacations beyond visiting family within driving distance.</p>
<p>That’s true, pugmadkate, and we feel very blessed to be in the position that we are in! However, even in the tightest budgets there is usually a little bit of room for reducing/reusing/recycling/borrowing or doing without that will net some savings. For smokers, the savings on quitting smoking can be substantially… etc.</p>
<p>We are frugal, too (husband by nature, me by necessity). I love this thread and can see that there actually are a few more ways to squeeze a buck than I’d thought about. :)</p>
<p>I don’t know if anyone’s mentioned yet the “savings” realized in having the kid go off to college. Yes, you’re spending more on the kid than ever before. But you’re probably not also spending it on private flute lessons, ballet school tuition, gas involved in getting the kid back and forth to ECs, whatever the kid ate or used in electricity, hot water, air conditioning, etc., at home. I know these costs are just shifted to another column on the balance sheet, but at least that $40K annually isn’t in addition to $2500 for dance lessons, etc.</p>
<p>Remember that while saving money is wonderful it has a flip side. The woman who cleaned your house, cut your hair, her husband who did your lawn or worked on your remodel no longer have as much income.
I have a friend who has supported 3 children by cleaning houses. Her husband works for a construction company. Her D worked hard in school and had potential to attend a 4 yr college. Her D is working 2 jobs and attending the CC to help support the family. Her clients have cut way back, some going to once a month or every other week and others no longer having anyone clean. Her H is not working as much as the construction company has not had as much work.</p>
<p>Re # 34: ooooops - that’s what I get for posting before reading the entire thread! But you’re right, anxiousmom - we can’t say some things often enough. :D</p>
<p>Got very lucky to have jobs and very understanding D. who earned herself Merit $$ for UG. Plan for Grad. school - no retirement, but money or not, retirement sounds sooo boring anyway, so. again, love to have jobs.</p>
<p>That’s the problem with a central bank that likes to blow bubbles - you artificially create a lot of demand which people then fill. Then the bubble pops and you find out how artificial the demand was.</p>
<p>Just went thrift store shopping with D to get some things for her and her sister. I am amazed at how many great things they had and how well organized it was. I will definitely be going back when I need something, and I’ll go on a Monday instead when everything is 10% off. </p>
<p>As it is, I bought a good oak desk for D for 19.99 and a camera bag for her sister for 1.49. Not bad at all!</p>
<p>Some really great ideas here for those of us with kids just starting college. Thanks, everyone! And keep 'em coming!</p>
<p>I think I’m going to start by taking a close look at our restaurant & grocery & electric & gas bills, EC fees, etc., and try to make a realistic estimate of how much we’ll save just by D1’s absence without having to cut back at all; then move on from there to obvious cutbacks (e.g., coffee from the free employer-provided office machine or a Thermos from home instead of that daily stop at the espresso place next door; fewer restaurant meals; taking transit instead of paying for parking). DW is worried about our ability to finance full-pay at D1’s pricey private LAC but I think between accumulated savings, current income, expenses we’ll no longer incur, D1’s own savings and contributions from earnings, modest loans, and moderate frugality we should be OK.</p>
Kids know that Mom goes to clearance rack before any other, I cook basically from scratch to keep down food costs, and we don’t have cleaning help. After S got a job his senior year of h.s. (he was the paid yard help, of course with a family discount), we did splurge and hire yard guy to cut grass. That 3 hours of sweatin’ in FL heat was just one chore my H did not want to go back to. LOL</p>
but it certainly bares repeating! 
:)</p>