I'll be switching up Thrifty Thursday in 2022 to align with our one income goal. The piggy bank is back! Rather than just list where I made use of our time, money, and resources, I'd like it to actually be a resource for others. With better planning for the blog, I'll share our process and options to still live a great life, but with only my income being used to cover all living expenses, travel, entertainment, and gifts. Money is already separated for "life goal" stuff like college tuition, the bathroom, and new patio. However, my earnings need to cover the sinking fund deposit for irregular timed expenses, or quarterly, biannual, or annual regular scheduled. Things that support life like care maintenance and insurance, property taxes and insurance, a plumber or HVAC specialist too needs to come from my paycheck.
This may mean more DIY, looking ahead at where we can reduce a cost, and cutting out all stupid spending. I know many of you already live on one income. Some of your household incomes are much higher, and some lower than ours so nothing we do necessarily works for you or you will want to, but hopefully we'll learn ideas from each other. You may find some of my strategies are no brainers because that's been your norm. Other times you may think my penny pinching is miserly or the opposite, is still spend thrift. We're all different and I just want to challenge myself and learn.
If you ever read any or just snippets of the Tightwad Gazette, you may have seen Amy describing that most often thrift crosses over being good stewards of time and natural resources. That's part of my challenge as well. So what went in this week, other than Christmas, to economize and keep money in our pocket? I used a combination of saving remnants and shopping ahead to save money later in the year.
- Bought 1 pound of popcorn kernels that should make the equivalent of 10 batches of microwave popcorn. Healthier and cheaper. I've been lazy that's all. DD2 and I had a batch Tuesday night and it was so much tastier than microwave bagged popcorn.
- Froze the remaining ham my SIL sent home and a pound or so of meatballs. Too much food was at risk of being thrown, and now I have more meat options for January's meal plan.
- Made a treat canister for DD1 to bring for her friend getaway. Again, saved waste and I love being able to send a little love with her. She has terrific friends.
- Saved multiple plastic bags from various gifts or food storage that normally would have just thrown as alternative poo bags.
- Saved the remaining wine from wine box. I had a glass Monday and may tonight, but I'll freeze for cooking whatever is left in the box tomorrow. Risotto anyone?
- Bought three gifts for others at 50% clearance.
- Bought a Christmas nut mix for DH for January football. Equivalent mix, non holiday themes, was about $3 more. Nuts make a nice snack for him.
- Researched recipes to use frozen olives. This Bucatina pasta sounds delicious. Lesson- throw nothing until you've scoured the internet for ideas to use something up. I'll use some of the olive stash for future pizza as well.
- Tucked away gift money into the sinking fund. With our big house projects, we will be gifted enough. This will go towards gift budgets over the year.
- I have a 3rd paycheck month that also was higher since insurance and FSA was not taken out. We talked ourselves out of justifying another take out and it will all go towards savings.
Puttanesca sauce for your olives. Using Kalamata type would kick the flavor up a notch.
ReplyDeleteProbably but I've got a random Mediterranean assortment to use up. Kalmata are part of one.
DeleteWe have some money goals for 2002, which I will be blogging about in a day or so. Sounds like you had a good week. I wish you all the best in transitioning into a one income household.
ReplyDeleteI'll be sure to follow your journey too. Good luck on your goals.
DeleteIt seems like we all tend to reevaluate our finances at the end of the year. TheHub could retire if he wanted to, but I am not sure he will ever fully retire. Meanwhile, other than our routine monthly expenses we hope to put most of the earnings into our retirement portfolio and savings accounts. Right now our needs are very small and our wants are virtually non-existent . We have sat aside a budget for travel (covid permitting) since two of our sons live on different coasts, and we would like to visit them. And if anyone can think of a central location, I could eek out a bit from the travel budget for a blogger meet up.
ReplyDeleteWhy did spell check change eke to eek. SMH
DeleteSpell check has been giving me unasked for help. I think my husband will do something new, but very part time. He's sick if sales and lazy colleagues and unrealistic customers, and crap GM.
DeleteGreen olives or black? I have a great recipe for black. Actually, the recipe calls for kalamata, but I just use black. Do you want the recipe?
ReplyDeleteBoth. It was an assortment.
DeleteI am planning to do some renovations in my basement this spring and have been setting aside funds for that project for awhile now. I'd also like to do some landscaping in the backyard and some of that will be diy. The basement is beyond my skills.
ReplyDeleteLiving on one income has been the norm for me all my life. My transition came when I retired and my income dropped by 40%. I had been tracking my spending (and I know I overspent when I was working and could) and had determined I could manage. This pandemic has actually helped in that regard since I'm more thoughtful about my spending habits.
My thriftiest move this week was not to go shopping for anything at all. I did renew my Costco membership online.
With one still in college, and a House needing major updates and repairs, we're finally able to try this. Have you been your one wage earner? That had to be stressful at times running a family and household with only one wage.
DeleteI'll be intrigued to see how your plan works out over the year (as will you I don't doubt). I'm sure you'll sail through it though!
ReplyDeleteIt shouldn't be difficult, but it will be! The not being tight fisted and enjoy life, balanced with smart shopping is what I need to do.
DeleteI have many goals for the new year. I do not think you are cheap, I thin k you are very reasonable.
ReplyDeleteI feel like I sometimes cut the wrong corners. I really need to be smart this year and next.
DeleteSounds like a great week. I love homemade popcorn (lazy teens prefer microwave), but popcorn is definitely something I prefer with a ton of butter, which is not the healthiest. ;-)
ReplyDelete