We officially decided to tighten the purse strings after reading barefoot investor again (this time with each other), and focus on setting ourselves up. Though we have already changed banks this year, I have no intention of switching again. Instead I transferred our long term saving accounts to ING and put the log in details in the family binder so we can check in on our investments as they grow, but not stalk them to watch every minor increase (guilty).
Our current bank doesn’t offer the full 3% but its close enough for us not to bother with the switch. We decided to add more to our super funds, bring on retirement.
We started to notice our life plan was changing a few months ago, and after my latest health hiccup it really planted the seed in our ‘big picture’.
So how are we saving money in the long run now?
- We are committing to avoiding the big supermarkets for 12 months. Good bye Woolworths and coles, woolies rewards and flybuys, hello Aldi, Costco, Asian supermarkets (they always have the best snacks and they’re really cheap). We also shop at local markets and have started the plans to increase the families veggie garden (but that’s another post).
- We’ve decided furniture is to be purchased from Ikea and maybe occasionally Kmart, and considering how much they both offer I guess you can assume the rest of our purchases come from theses places as well.
- Clothes… Kmart. Seriously no competition now, they’ve up their quality and I’m rocking a $6 cardigan, $8 leggings, $6 slippers with my $1 clearance singlet. Kmart’s going to stretch our families dollar over the next 12 months.
- Research, research, research! I’ve been researching for months on end of things we’re looking at upgrading or replacing. I try to avoid purchasing on the whim, So I read choice reviews, I go in store a view the product multiple times until I’m confident it’s the right fit(especially with furniture) and I sleep on it.
- Presents, hmmm. Well I already have the gifts from Santa boxed up in my garage. I purchased 4 gifts for each on of my kids from the big w toy sale online, before the sale started in store, They we’re delivered a few days later and I’m super happy with these items and they may only be things like hot wheels, shopkins and barbie but, these kids of ours will be over the moon. I had the idea that if I was feeling guilty I would add in something to read, wear, do ect…. But I thought about it some more… My kids don’t need more clothes and they definitely don’t need more books (mum has a bad habit already).
Something we’ve always done and I didn’t realise it was weird until I started getting weird looks saying it out loud, rather than replace something as soon as it breaks or dies we just go without. Our family went 9 months without a microwave because we saw no reason to replace it until we were ready to invest in a decent microwave, and to be completely honest we only purchased it after we became debt free the first time as a reward. haha.
And I would say make everything from scratch but that would make me the biggest hypocrite in the world, you see…..
Since my first P.E it’s taken me a bit longer to get back into baking, to tell you the truth my passion for baking had completely dwindled and I become more relaxed with pack food choices. When I bake now it seems to be a bigger deal now, so that’s my motivation to get back into it!
I found myself collecting recipes, even if I was just printing them off and putting them into a display folder, I was still doing something to keep that spark alive. Now 15 months on I have a nice little collection and I’ve book marked 3 recipes for this week. Big news for this house hold!
For now this is my list of what I’m currently doing to save money. Everyone’s at a different stage of their journey and trust me when I say I’ve been there and done that. I’m now realising I’m comfortable with what works for me.