Monday, October 6, 2008

Becoming a Thrifty Shopper- Part 1.

This was originally posted on 5/5/08. I thought with all the talk about money in the news this would be a good time to revisit this series.

I am starting a series today on "Becoming a Thrifty Shopper". I plan to talk about the motivation behind this goal, how to start, couponing, Internet resources and some of my favorite stores.
Motivation - Getting in touch with my Frugal Side.

It seems to me like every time I turn on the news, the radio or read the paper, the main topic of conversation is this economy! Just the rising price of gas has forced us to cut spending in other areas of our budget. 4 or 5 years ago we were only spending about $40 every 2 weeks for gas for our 2 cars. We are now spending $100 every 2 weeks and we only keep it to $100 by careful planning and cutting our as many unnecessary trips as possible. (My husband drives around 30 -45 min. to work)

Currently our income is around 15k less than it was a year ago. (My husband's job in the mortgage banking industry was a casualty of the housing slump.) I know I'm not alone in this situation. There were 900 other co-workers that lost their jobs, along with my husband, when HSBC shut down their mortgage operation last year in Carmel, IN. But thankfully, our situation was different than many of them because after we got married, my husband and I set as a goal, to live as debt free as possible. And because of that, he was able to take a position earning much less, with an excellent company, in a field he is much more interested in - 401K investments.

I have to admit, during the housing boom, when mortgages were selling well, and our income was increasing, I wasn't as in-touch with my frugal side. But the economics of this time have given me a great incentive to save all I can. Really, I've always been a good shopper. I do like to get the most for my money and I LOVE to get a good deal! My family actually jokes that I can smell a sale a mile away (and I sometimes wonder if they take me shopping for my company or for my sale sniffing nose!)

Seriously, however, I personally have several motivations for being a "Thrifty Shopper". And if you want to successfully join the ranks of the coupon cutting, super saver moms, it would be good to think about why you're going to spend some of your precious time engaged in this endeavor. You need a motivation a goal or maybe several, to encourage you that your effort and desire to cut your family's spending is worthwhile. Because it really is!

I will pick up next time with some of my motivations for frugality and a bit about how being frugal has helped us accomplish some of our financial goals. What are your motivations? Why do you feel the need to cut this are of spending. Feel free to comment below.


Anonymous said...

It's not just the saving "nose", we like your company - - however - - - the saving radar is nice to have around :o)
I have to say that with 2 college bound kids, I am wishing that I had started being frugally "aware" earlier in life. But they say better late than never. . . so it's off to cut more coupons before work.
Also - Can I suggest you share what's most effective in living frugally?perhaps rate some of the ideas (have to do, do if you have time, etc) For those of us who work and want to cut expenses?
Later lil sis!

Candace said...

Thanks! It seems like you've "got" the first post - motivation! You really need that "want to"! I guess for us it's also been some "have to"! =)