- The easiest initial answer is for the healthy partner to work more hours. This is not, however, a good long term plan. The healthy spouse will suffer burn-out, and the relationship will not get the attention it needs.
- Lower your housing costs. We have done this over the years by renting out an extra room in our house. This is the least life changing option. The other option is to downsize your home.
- Consider utilities. We noticed that re-insulating our roof and having a newer furnace and refrigerator significantly lowered our monthly gas and electric bills to the extent that it did not take long to recover the initial cost of those items. Check with your city to see if there are programs that help with these items, or check with your taxes to see if you can deduct these items. Most first ring suburbs have large discounts or assistance with updates simply because they want to keep the neighborhood updated. Many of these are not income based, just community based. Additionally, switch to LED lights, be willing to be uncomfortable with the temperature in the house to reduce heating and air conditioning, always turn off lights when you leave a room, slightly lower the temperature on your water heater, clean your furnace filters every six months, compost and reduce your garbage bill. Hang your clothes to dry. This not only saves on your dryer bill; your clothes last longer this way.
- Barter. This can be done in many ways. You can barter childcare with friends, meals for cleaning, etc.
- Let your kids' grandparents know that you want clothes for your kids' birthday and Christmas gifts. Your children will not suffer, and most of the time, grandparents still find a small toy to give. Small children do not care about the cost of the toy.
- Shop garage sales for clothing, or look online at used clothing. I now occasionally shop thrift stores if I have the energy. However, thrift stores tend to be more expensive than garage sales or online websites like Craigslist. Make sure to re-sell what your kids have outgrown.
- Give. EVERY SINGLE TIME I gave away my kids' outgrown clothes, we would miraculously be blessed with someone giving our kids hand-me-downs.
- Baby Gear: We used cloth diapers, not the fancy cute ones but the old fashioned kind. They are the cheapest. We used them because I have severe allergies, but we did the math and learned that we saved over $2,000 by buying cloth and washing them ourselves! You don't need a changing table; use a changing pad. We also found that we almost never used the cribs. That is a more personal decision. If you are going to use a crib, find a used one. We found one that had pretty much never been used for about 25% of the cost (and then didn't really use it much). Look at thrift stores or garage sales if you are going to buy baby gear. Check with United Way. Many local fire stations give away new car seats. While nursing your baby is significantly cheaper than formula, this is a very personal decision. For us, it was something I wanted to do anyways, and as a side note, it saved us a lot of money.
- Food. For our now mostly adult family of 4 (adolescent boy who eats more than we do, and three adults, two of whom are gluten and dairy free), we can get our grocery/toiletries/cleaning products down to $200 a month without coupons!!! We do not do this every month because we do not have to do so, but when we want to save extra this is the easiest way to do so. How?
-No cereal for breakfast. Cereal and milk are expensive. You can still get your dairy, just not in an expensive bowl of cereal. Oatmeal is ridiculously cheap compared to cold cereal. Pancakes, muffins, French toast, eggs and sausage are about 20% of the cost of a bowl of cold cereal. These items make breakfast for about .30 a person.
-No packaged snacks. Bake on the weekends so you have snacks for the week.
-Make home made soup for lunches. If you add home made banana bread, your lunch will be less than .50.
-No juice. Fresh citrus fruit is healthier and significantly cheaper. Drink water. Your body will thank you.
-Only purchase produce that is in season. You can get crazy deals at times. When I do, I buy in bulk and freeze extra for winter.
-Meal plan around the on-sale items at the local grocery stores, and cook from scratch. Pasta, rice, and potatoes are very cheap. We can get a 10 pound bag of potatoes for $4. Buy meat in bulk when it is on sale and freeze it in family portion sizes. A few months ago, we found whole chickens for .60 a pound. I bought enough to get us through several months. We have also at times bought meat directly from a farmer. Chicken, turkey, and pork are significantly cheaper than other meats, but make sure you are getting enough iron if you are not a big beef eater. Rice and bread are fortified with iron, and spinach is a great source of iron. There are many meals you can make for $1-$2 a person that are nutritious and can include meat. We tend to eat dried beans and lentils for protein at least a couple meals a week. Rice with dried beans, seasoning, and veggies is less than .50 a meal. Look back at my .60 a pound for chicken. You do not need to eat a pound of meat a day. A few ounces is sufficient nutrition if you are also getting other sources of protein. So, even if you eat meat with your meal, you can keep your dinner easily around $1 per person even if meat is more than that .60 a pound.
-So, breakfast around .30 a person, lunch at about .50 a person, and supper between .50 and $1 a person yields you $156-$216 per month for a family of 4.
-Make your household cleaners. Because of my severe allergies, we rarely buy cleaning products. Occasionally I will buy some at the local dollar store. I add grapefruit seed extra to water for sanitizing my kitchen. This is not only completely safe, it's insanely cheap. Baking soda also makes a great cleaner and is very cheap. Vinegar is another great household cleaner.
-I have found great cosmetics at the local dollar store. We also purchase our soap and shampoo at the local dollar store. If you cannot find what you like there, match coupons with sales at other stores. Also, your skin will thank you to take a break from cosmetics on the weekend. - Learn to cut your own hair. If 4 people are getting hair cuts every month, even at the cheap salons, this is at least $60 a month, which is $720 a year. Our daughter and I had long hair for years because you do not have to go get it trimmed and styled terribly often. I would cut her hair, and I cut my own bangs for years. My husband cut his own hair, and we cut our son's hair for many years. There are DIY videos to learn this hack if you are unsure of yourself.
- Stay out of the stores, and if you have to shop, carry cash only. This saves on gas and eliminates extra spending.
- Transportation. Get by on one car or learn to take the bus or carpool. Even economical cars cost over .50 a mile to drive by the time you add insurance and wear and tear on the vehicle. Live close to work; you will be shocked at how much this saves in vehicle expenses!
- Use cloth napkins and rags instead of paper napkins or paper towels.
I recognize that some of these are extreme. For us, when we initially cut back to one income, we were significantly less stressed using these money savings hacks than we would have been with my husband trying to completely make up for my lost income.
What are ways you have found to cut expenses so you are not financially stressed when you are not able to work as many hours as you once did?
What are ways you have found to cut expenses so you are not financially stressed when you are not able to work as many hours as you once did?
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