I just wanted to give a response on the budgeting article. I realize that sometimes recording every receipt is a pain, but I found out some interesting things when I actually did it. I recorded my husbands and my income to the penny. Then I recorded all the expenses from our bank statements and ATM receipts. Then I recorded any cash receipts (against the cash withdrawn). What we found astounded us. We had spent pretty much all of my net checks and an extra $6,000 of his checks on unnecessary expenses.
Too tired to cook after long days, we found ourselves saying, “Lets just stop at a restaurant”, “Oh lets just run through fast food for lunch or breakfast” or “How about a soda or coffee?” Well all that added up.
I am now not working, we are rarely eating out, and with one less income we are actually able to put more in savings than we did before. My husband does not mind my staying home (I have always worked) so I get some odds and ends done around the house that he does not have to try and do when he gets home now, so he feels less stress.
I plan on trying to work from home at some point, but it is not necessary to survive. I help with minor repairs around the house, painting, mowing the yard and such with all my new found spare time. You never really know HOW MUCH you are spending until you take a GOOD HARD LOOK at it.
Thanks for your website. It is what inspired me to check out our lifestyle spending.
One thing most people don’t realize is just how much money can be saved by staying home and not working. Meals eaten out alone can cost thousands. Just doing stuff around the house like painting the house, garage saleing, bargain grocery shopping can make staying home worth it. not only that but all the day care costs, gas, second car maintenance and repair, insurance and payments really add up. A lot of people don’t add up the true expense of working. There are times women could save MORE money by staying home than by working. It really pays to check and see if all those hours working really are bringing in more money.
P.S. We love your comments but any time we mention certain subjects we get swamped with comments from readers who are feeling defensive. One of those subjects is women working outside of the home. We are not making a statement about women working outside of the home in this article. We are talking about knowing what is happening with your money and how, sometimes, your working isn’t helping with your income as much as you thought and may actually be hurting you so please try to keep your comments along those lines.
Thanks so much!
For more easy and practical ways to save money and get out of debt, check out Dig out Of Debt and learn more about how to keep more of your money.
photo by: Tracy O