Monday, November 5, 2007 Frugal Changes we have made Posted in Living on One Income Copy of post I put on old blog last December. – Updates in RED I did a balance sheet yesterday – or state of the nation. I am thrilled with our family’s accounts!!! We have had a tight two years with our goal to be mortgage free in 7 years. We have had a few hiccups – needing a new car & needing a new bed this year. We also really need a new dishwasher (now brought) & fridge – (She is still hanging in there!). We have a bit of spare funds and we have decided to put that money towards fencing the bottom paddock – I will so love to get the sheep & goat fenced in that area – so it’s a toss up new fridge – when I can use old beer fridge for a bit longer – new dishwasher which we can wash dishes by hand or more fences….. I think more fences will win. Abbey & I would dearly love a dairy cow mmmmmm & I would love to raise a few pigs…………… Update – bottom paddock fenced There has been no one contributing factor to our savings, lots of little things & all the family involved. v     Realising we needed to run a cheaper car to work (Brent found this hard) v     No wasteful expenses on things – eg eating out – we have lunch before we go or take a snack pack v     Having good communication talking monthly of our finances v     Tracking every single cent we spend (I use Microsoft Money as that’s what a computer came with) v     Cutting back on leisure activity ie going to stockcars …scrapbooking, quilting..movies …. v     Using cash & eftpos only – I found it too easy to use credit card for things even though we had no credit card debt – it is just too easy to use on things.. v     Converting price of item to how long Brent would have to be at work to pay for it – this is very powerful! v     Making the choice we would rather have Brent at home more than work – We are planning Brent will take 3 weeks unpaid leave in February – not that he will be having a holiday – more a change – he will build next stage of cattery & fix up a few vehicles that he plans to sell. (He has lots of big boy toys bwg) v     Big Boy Toys no 1 – stock car is nearly ready to sell v     The kids on their expense & clothing budget – they get a nice amount each month & they have to live within or more importantly below their means. v     Using the library instead of buying books (I found this hard) I was such a snob & didn’t like reading books others had read. v     Finishing a project before starting a new one eg quilts (I found this hard) Still find this hard v     Stopping monthly movie sky tv channel – not going to the movies but instead paying $7.00 to hire a movie over sky (no late fees this way BWG) MM somehow when kids were sick we signed up again with skymovies – we are now watching these more than hiring them v     Getting library books out for 5 weeks – this has limited the overdue fees I used to get. v     Opening up a bank account just for food & petrol – this has really made me stick to my food budget most weeks – still an area I have to work on! 2007 I will get kids more involved with this account & budgeting for our food. Still an area I need to keep working on! v     Not buying magazines unless we use pocket money we get weekly So as you can see lots of little things tweaking & tightening the purse strings where we can. Yes at times the emerald green monster appears & we all want to spend So 2007 will be our third year of getting off the bus and living differently from others so we can live differently when we are older. I must say I am driving Brent & the family nuts with my grand plans… I have been reading (from library) all of Robert T Kiyosaki books – making everyone play Cashflow 101 living, breathing finances BWG Powerful stuff!!!! And it has been the small changes that are making BIG differences. • Post A Comment! • Send to a Friend! Comments Monday, November 5, 2007 - Untitled Comment Posted by Anonymous Hi mate. I love all the pics of your family in action on the farm - the geese look so much fun to this suburban girl! You have challenged me with your financial stuff too - that is my weak area & given that we are totally in the red from our trip, I could sure use some advice in getting the entire family on track again. Have a great week - hope this yuk weather up here hasn't hit you too! Cate • Permanent Link