Fitting the Baby into the Budget

 

Wouldn’t it be a wonderful world if we didn’t have to worry about money? The reality of the matter is that when a new little baby enters our homes our expenses go up and our income likely goes down. For most young couples making ends meet was already a stretch, and now with a baby it seems almost impossible. With careful planning, we are confident that you will be able to meet your goals.

 

We are going to give you some tips for trimming your spending because living within your means is so important, and you should avoid consumer debt. We must also say that poverty is a state of mind, not a level of income. It doesn’t matter how much you make you can always present yourself clean and well pressed and no one will ever know the difference if you don’t let them see it in your eyes. Take some ideas from the Prosperity Paradigm.

 

Tithes and Offerings

 

The number one rule for stretching a slim budget is paying a full and honest tithe and being generous with your other offerings.

 

Include some prophet quotes or scriptures here.

 

It is our experience that the Lord will not allow any person to go without the necessities of life when they have been honestly paying their tithing and that the windows of heaven really do open and pour blessings upon us when we sacrifice to pay generous offerings.

 

Story about Mary Fielding Smith, "will you deprive me of the blessings of paying my tithing?" Or other personal stories would be better if we have them. My stories are all from the Baltics.

 

Budget

 

It might be better said that you fit the budget around the baby rather than fitting the baby into the budget. The Lord gives us nine months to prepare for a little one. He will enlarge our capabilities when we do His work, which includes bringing His children into the world. We must do our best and he will take care of us. In some families the word budget is avoided at all costs, and in other families budgeting is simply a way of life. I (Carrie) look at a budget as something that appears restrictive but actually is liberating. Having a budget gives families choices. Debt is the restrictive factor that takes away choices. Everyone needs a budget be it for $1000 a month or $10,000 a month. The world is full of abundance. Let your mind be clear and believe that there is enough, but when your budget needs to be trimmed here are some ideas.

 

Budgeting Tips:

 

• If you are saving for something special put it in a separate account.
• Sit down together on a regular basis and go over your budget so that both you and your husband are on the same page.
• Hold a budget meeting at the beginning of each year and plan out your expenses. Then when you want to make an emotional decision let the plan kick into place.
• Involve both husband and wife. One of our friends said, “I enter and keep track of expenses, and once a week my husband and I sit down and talk about what is going on with the budget. My husband is the one who pays the bills. For us having each person take part in the finances makes it a team effort and keeps us on a checks and balance system.”
• Have a long-term plan.
• Make your budget reasonable.
• Have a cash allowance for each person so that you can have incidental expenses (lunch out, a new shirt, etc.) without getting after each other. It is better for marriages.
• Use credit cards wisely. If you must have a balance for an extended period put it on a 0% card. Keep a line of credit open for the sake of your credit score.
• Remember to distinguish between needs and wants. You will find that your needs are really few.

 

Many of us who live on a tight budget have turned thrift shopping into a hobby. My husband says that it is hunting for women. We can get the same thrill of the catch. Budgeting can either be the dread of your life or an enjoyable game. The rest of this chapter consists of other fun money saving ideas that will help you stay within your budget. Try something new. It just might become one of your favorite sports.

 

I want to take a look at the ideas for The Five Lessons a Millionare Taught Me by Richard Paul Evans.

 

Grocery Shopping Tips:

 

• Have whichever spouse is better to sticking to a list do the grocery shopping.
• Before making a purchase ask yourself if it is a want or a need. If it is a want wait a week and see if you still want it and then if it is in the budget purchase it.
• Use cash. One of our friends said, “I take my weekly grocery money in cash, and that way I’m more careful and don’t go over it. I have to take a calculator to the grocery store and add up the food I put in the cart. When I reach my limit, sometimes I have to take less important things back to the shelf to get more important things.”
• Create a menu and shop strictly for what is on the list.
• Have food storage of foods that are non-perishable that you buy when they are on sell.
• Only go down the isle if it has something that is on your list.
• We have a great friend (not personally) called the Grocery Guru. Each week online, he tells the best deals for the week. He always has great tips.

 

Garage Sales

 

If you are willing to swallow a little pride, go garage selling. You'd be surprised who you see out there. One of our friends said, “before I discovered this secret, I was shocked at the toy prices in the stores and was struggling with how to get educational and fun toys for my daughter on our small budget. But now I am hooked.” We would like to give the following pointers:

 

Never take the asked price, talk them down to a lower one. They are expecting that!

 

Make sure while you are there that the toy is not broken and is safe. Don't buy things that have safety requirements such as cribs, car seats, and strollers. These things are a dangerous area - as you don't know what kind of condition or recalls they have.

 

Think about what the product will look like cleaned up. Whether it looks brand new or not - we would recommend taking it home and cleaning it off. Make sure you get rid of any germs. But there are some toys that with a little bit of soap will look brand new too.

 

Don't buy everything. Think ahead of time what things you want for sure - maybe you are looking for a baby monitor or a musical toy. At all garage sales you hit, look for those items. In the mean time, browse for an incredible deal. It is easy to get caught up in the great deals and end up buying more than you really wanted. One idea is to take a budget - a set amount of money you can spend and then you’re done! That technique works well for bargaining, too.

 

Coupons

 

We have friends that think coupons are the way to go. If you have more time than you do money they are a great way to save. Our coupon loving friend said, “I have a coupon holder in my purse and get coupons off the Internet, in the mail, out of newspapers, etc. You’d be surprised how much it all adds up. Even if you shop on the Internet, you can often times find “coupon codes” as they call them for % off the price or free shipping if you buy a certain amount.”

 

Price Match and Adjustments

 

Another way to stay within your budget is through price match and adjustment. Certain stores will price match any of their competitors sell items. One of our friends takes all of the ads for the week. She figures out what she wants and circles those items in the ads. She goes to the store that price matches and voila, she gets the best deal. This works with non-food items as well and many more stores have policies that allow price matching on non-food items. Price adjustments are a little different. Many stores have a policy that if the item you buy goes on sell within one week and sometimes two, they will adjust your price accordingly. You don’t even need to bring in the item, just the receipt. One of our friends keeps her recent receipts in her purse. She said, “If I happen to be in or near the store, I take my receipt up and ask them to check for any price adjustments. Every now and then I get a fun surprise and save quite a bit of money that I see as a bonus because I wanted the item anyway!”

 

Shop Clearance

 

Shopping for kids can be expensive. It can really add up! We walk straight to the clearance rack and see what is available. This often times means that we shop a year in advance. We shop the end of summer clearance sales for the following year. It is just as fun to pull out those new clothes the next year! The money you will save by shopping at the end of the season is well worth storing those new cloths for next year. You would be amazed at the prices I find on the racks of many popular stores – even under a dollar sometimes!

 

Shop Online

 

Retailers and individuals are willing to sell products at unbelievably low prices on line. One of our friends had a good experience. She said, “Recently I needed some new clothes for my son and was frustrated not being able to find anything on sale – I just needed some basic overalls and jeans, which tend to not get the real low clearance that I like. So I browsed e-bay and got a pair of jeans, overalls, 3 shirts, and shoes for the same price (including shipping) as one pair of overalls would have been! The clothes I got were nearly new. It was a fun deal!” We have another friend that buys a “lot” of maternity cloths each time she gets pregnant. (It is essentially a whole new maternity wardrobe all from the same seller.) After she has the baby she turns right around and sells those same cloths online. It saves her a fortune because she sells them for about the same price she bought them for. May we offer a word of warning? You have to be careful to look at the seller’s feedback and read their descriptions. Also, don’t forget to add in the price of postage to figure if you are really getting a deal.

 

Babysitting Coops

 

Babysitting can add up fast. We solve this by working together with our friends. Do swaps with a friend and take each other’s kids so you can get your haircut, workout or go shopping. A more elaborate thing is to set up a babysitting coop where you have specific locations/times to drop your kids off during the week and you also take a specific time in the week to take kids. They are lifesavers!

 

Take advantage of what’s free

 

You don’t have to make a lot of money to provide activities (and meaningful ones) for your kids. Kids love to go to the park or weekly library story times. If you are up for it, take them to McDonald’s play-land. Have playgroups with friends. Go for a hike or a picnic. Drive up the canyon and see leaves. Do an art project. Look into “free days” in your community. Some zoo’s has free days in there off-season and maybe even year round. The Children’s Museum has free days too. Ski resorts have free ski days. Just look around and you will find it! Kids really don’t have to be as expensive as you may think (until they get into college). Many things that are thought to be “musts” really aren’t. We should take advantage of the fact that kids don’t care what brand their clothes are. It is fun to buy a very cute outfit once in a while, but kids don’t need too many outfits. Hand-me-downs are great.

 

A wise grandpa said that it doesn’t really matter where a child sleeps or what a child wears as long as the child is loved. They need love, and that comes from your emotional budget, not your monetary one.