Earlier this year my wife and I both found out we wouldn’t be getting raises at work this year. We both work for the same company, and its budget year starts on July 1st. That means the earliest we could possibly get another raise won’t be until July 1, 2010!
Don’t get me wrong, this is much better than losing our jobs, or having to take a pay cut. So by no means am I trying to complain. It’s just that since we’re also having another baby this year, we’ve decided it was time to take a hard look at our monthly expenses to see if there are areas we can cut back.
We need a new car
What makes this task even more important is the fact that we’re going to need a bigger vehicle before the baby comes. We currently have only one car—a Chevy Caviler. Sure it’s a four door, but it’s already too small, especially for road trips.
If needed, we could get a luggage rack for the roof for some extra space on longer trips, but I don’t think the baby’s car seat is going to fit well in the backseat along with Olivia. They’ll literally be side-by-side, and nothing would stop Olivia from touching, bothering, or sticking things in the face of the baby. Not ideal…
Since we’re going to need to get a larger vehicle, and we’re not getting a raise, and we’re going to have another mouth to feed… well hopefully you can see why we’re looking at ways to cut expenses.
We’re going to look at everything
As we look at ways to cut expenses, we’re going to look at everything possible! From cutting coupons, to canceling subscriptions, to changing our cable package, to the food we eat, to our entertainment choices. Nothing is going to be too sacred to consider cutting or changing in order to save money.
That doesn’t mean we’re going to radically change our lifestyles if we don’t have to. It’s just that we’re going to consider everything. If we can cut just $10 per month in ten different areas of our lives, that’s a savings of $100 each month! More than enough to cover the cost of formula for the new baby.
In the coming days and weeks, as I discover new ways to cut costs in our budget, I hope to share them here. Since I know a lot of dads are in situations similar to mine, it’s my hope that sharing my cost cutting ideas can inspire you to find ways to save money in your own budget.
We need your help
While I hope to come up with some great ways to save cash each month in my own budget, I doubt that I’ll think of every possible way to save money all on my own. That’s where you come into the picture.
If you have an idea or tip for saving money, please share it with us! The easiest way is to leave a comment below. Or you can send it to my @dadtrek Twitter account. I plan on compiling your tips and ideas into a future blog post.
So thanks in advance for your help. Together I’m sure we can really find some creative ways to better our families by saving money each month!
Tags: Budget, Expenses, Finances, Money, Save Money
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