Money Saving Mom®

Guest post from Lisa of About Proximity

Once a year, my husband and I choose a month to practice financial fasting. Fasting is to willingly abstain from something… and we practice financial fasting to intentionally work toward not spending extra money.

Here are a few of the things we do:

We go through all our stockpiled foods and seek to use it up.

We focus on using our leftovers and digging deep into our freezer. We might work together to make a big batch of homemade waffles and freeze them. Our grocery bill decreases for the month, because we are using what we already have.

We choose all activities that are free for the month. 

We visit the library for books, music, and movies. We go hiking and exploring. We make all our treats and snacks at home. On the weekend, we also pick family activities that complete a house project, like organizing the basement or raking leaves.

We use up all our free toiletry samples.

We go through our cupboards and make sure nothing has been sitting unused. If it has been sitting idle, we put it to use. We also go through drawers and use up any idle cleaning supplies, candles, or craft supplies.

We organize our house. 

We gather anything for donation and take it to one of our local secondhand stores. Anything not in use, but worthwhile, we might sell or give to someone who can use it.

My husband and I have a family finance meeting. 

We gather all our monthly bills and review their costs. We cancel anything that is unnecessary, and adjust anything that we are paying too much for. Doing this on a regular basis ensures that we are not missing anything that might waste our resources.

We do without.

If we run out of something in that month, before we purchase a replacement, we ask if can do without it or wait until the month is completed. For example, if we run out of lined paper, can I use the back of old documents for writing or drawing? Is there a homemade version we can make to replace what is out? Can I take time to mend or repair something that is broken?

We gather all our loose change and deposit it into our family giving bank.

When the bank is full, we choose where and for what cause to send our money.

A financial fasting month does not mean you won’t spend any money. It just provides an opportunity to be very intentional about what money you do use.

This intentional time also allows you to use the resources you already have and might have forgotten about. We find these months to be beneficial because it helps our family be intentional in everyday life throughout the year.

Lisa  is a freelance writer from Holland, Michigan. She blogs about placing yourself in the proximity of renewal at About Proximity. She works with the Global Team of 200 of the organization Mom Bloggers for Social Good. Her favorite thing is to encourage others. She laughs daily with her husband, and kids Ellie and Josiah. 

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Guest post from Jason of Work Save Live

As a budget coach (and someone who’s been working my way out of debt for the past six years) I’m not willing to paying more for something than I absolutely have to. While many of my family and friends believe my wife and I are “cheap”, I’ve become comfortable knowing that we’re simply “frugal” and do our best to make the most of what God has entrusted to us.

Whether your looking to save some money on a big-ticket purchase or just trying to find deals for holiday gifts, here are a few ways to avoid paying retail.

1. Ask for a deal.

Businesses want your sale and they’re typically willing to earn it. Do your research before you head to the store: browse competitor’s websites, search ads, shop around on Amazon, and come to the table prepared to negotiate.

2. Shop at the end of month, quarter, or year.

Most businesses have monthly, quarterly, and yearly sales goals — so by shopping at the end of these periods, you’re more likely to get a great deal.

If you’re dealing with a sales rep that isn’t willing to budge on the price, ask for a store manager or department manager as they’ll have more power to negotiate.

3. Be the king/queen of Black Friday.

Black Friday is quickly approaching, and as most of you frugally-minded shoppers know: it’s a great time to get a bargain!

With the power of the internet, nearly every major store’s ads are available a few weeks in advance. Search all of the ads and get a game plan ready for your attack.

Of course I should add a caveat here: don’t go overboard. There’s no reason to buy something you don’t need just because it’s a good deal!

4. Take advantage of online banking.

The banking industry has evolved with the onset of tablets, cell phones, and increased internet use.

Online banks are becoming the standard, and their high-interest CDs and Savings Accounts, low fees, and reward debit cards are giving consumers much more incentive to leave their traditional brick-and-mortar banks.

5. Buy refurbished or floor models.

You can save a bundle of money if you buy used and refurbished tech gadgets. And if you’re searching for other big-ticket items such as couches, refrigerators, TVs, or kitchen tables, buying the floor model or searching the “scratch-and-dent” section will save you at least 10-30%!

We were able to save $200 on our refrigerator even though the scratch was on the side that is now covered up by our counter!

What are your tips to avoid paying retail?

Jason is a financial advisor and Dave Ramsey-trained counselor who blogs over at Work Save Live. He aims to educate his readers on a variety of financial topics while sharing his family’s journey out of debt and a weekly delicious recipe.

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