Lost job - How to cut expenses?

[lisakramer]

So I lost my job. Thankfully my DH makes more $$ than I did, so it's not the worst possible scenario. But it's still not good.
I'm applying for unemployment and hope that will come through, but it won't make ends meet even if it does.
I know all the normal tactics for cutting back, no eating out, buying generic, cut bills, etc.. But what are some not so common tips you have for making our $ stretch even further?
I honestly don't find that coupons help very much because I either don't buy much packaged food, or I buy generic.
DH won't get rid of cable unless we get to the point that we honestly can't make the house payment or something like that.
Appreciate the input -
Thanks!

 

[busy mom]

First, hugs to you. My DH was unemployed last year, and I feel your pain. But we did fine, and you will too.

One suggestion is to call your cable provider and tell them you are thinking of cancelling due to job loss. I did this, and they were very understanding and actually deducted money from our monthly fee. We use Directv.

For the holiday's, we really cut back for the kids and they were fine. We cut out all of the "fluff" gifts just to fill the floor around the tree and asked them what they really wanted, and that's what they got from Santa. My husband and I put a $25 limit our our gifts to each other and got fun little things that really make us happy (candles, candy, tea, etc...). It was a wonderful Christmas.

The whole job loss experience made our family closer, and our kids were never resentful when we had to say "no" to something that was really not a necessity. It made us realize how much we could easily do without.

Hang in there...

 

[HeatherC]

So sorry to hear this. Hope you will find something very quickly.

A couple ideas that may help you....

Call your mortgage company and ask them if you could skip a month. If they do, put that money aside for unexpected expenses. Could also do the same with credit card companies.

Call your insurance co....car and homeowners And see if raising your deductible will cut your monthly payment.

Plan every meal. Makes a huge difference budget wise. For example, buy a ham for like $10. One night have ham dinner. Then make a couple quiches, ham and potato soup, etc. and freeze them. This way you have four or five meals from one.

This works great with chicken, ground beef, turkey, soups, stews, etc..

Plan errands so you use less gas.

Cable...can you do a cheaper package...drop home phone line, etc..

Oil, gas, eleectric...may be cheaper to either ask for a monthly budget plan OR if you are on one, may be cheaper to pay as you go. We did this with our oil company. We were on a budget plan, but decided one year to pay as we go since we installed pellet stoves. We now buy 100 gallons at a time and find we are saving a lot of money this way....even including buying pellets. Butyou have to figure it out for your circumstances.

Car Payments....figure out if it is cheaper to trade car in and do 0 perecent finance. Or...downsize to cheaper cars. If you aren't driving far, tell insuramce company....may qualify for low mileage rate now.

Hope some of these ideas are helpful!

 

[mrsklamc]

Check out "The Complete Tightwad Gazette" from the library. She's got it ALL in there.

 

[dakcp2001]

Planning meals, and never go to the store without a list. Take an inventory of all your spending, look at the debit card statements and credit card statements and you should be able to see where some of the superfluous spending occurs. For us, we spend too much ion food and too much at Target. I can't go to Target without a chaperone, because I bring home everything I fancy. Try not to eat out.

 

[dakcp2001]

Check out "The Complete Tightwad Gazette" from the library. She's got it ALL in there.

lol, get it at the library, don't buy it. I read this when I left my job to go back to school years ago and I can honestly say I would never do most of what this lady does. But I did pick up a few tips and it was helpful to see how some people manage with less.

 

[Styx Fan]

My DH was unemployed from 11/08 until 11/09 and I am a SAHM. It was rough, but since we had little debt going in, we made it through.

Stay out of stores unless it is absolutely necessary. I found it so much easier to not spend if I wasn't looking at "stuff". If I wasn't in the stores I didn't feel as bad.

If you exchange Christmas gifts with other adults (parents, grands, siblings, etc) tell them now you won't be taking part this year. Consider not buying for nieces and nephews this year, also. Or really downsize how much you spend. Kids get so much at Christmas, most won't even really miss it.

Make the library your best friend. Most have movies and music in addition to books and magazines. In our area we can use pretty much all of the other area libraries as well. Go on line and check out what they have...you may be able to have it held for you and sent to your local library. You may have to wait for something, but if you hold enough stuff, there is always something arriving you want. Some libraries won't hold or send out new releases, so stop by them when you happen to be driving by on your way elsewhere.

Push your DH to go down to the lowest cable of all it you need it for reception. We never had anything but extreme limited basic until last week. think all the networks (abc, nbc, etc), local access channels and maybe WGN. Saved a ton of money over the years.

If you have a land line and cells, consider ditching the land line. If you have data plans on your phones and can get out of the contracts, ditch the data plans. Fun to have, but really not a necessity.

If you like sporting events, try out a local college team. We have a school of about 20,000 near by. They have a killer basketball team. Cheap tickets and great ball.

Avoid putting anything on credit cards unless you are someone who already pays them off every month. Even then, consider switching to cash for the time being to make sure you don't over indulge.

Of course, I don't know your individual situation, so I'm not all of these apply to you. But they are things to consider. Just keep reminding yourself that living lean for a while will help you in the long run, and it's just for a little while.

Good Luck!

 

[elaine amj]

For me, planning does the trick. I set up a spreadsheet.

Write out what you have coming in.
Then add up your fixed expenses (musts like mortgage, electricity, taxes, etc)
Then add up your semi-fixed expenses (cable, cellphone, etc)
Then what you have left is discretionary.
**don't forget savings to put aside if you can manage it**

Then figure out what you need to do to stay within that. Money is rather elastic....you tend to spend whatever you have. So make sure you have a strong sense how much you have.

e.g. if you know you only have $200 a month for entertainment, you can then make choices - do you:
- eat out at $100 a meal 2x that month
- rent $5 videos and buy $5 in snacks and have a movie night at home 20x a month
- go on a cheap weekend getaway in a $70 hotwire hotel, $50 gas, eating 4 meals at Subway (and the like), hike, picnic and do free tourist things.

Hope all goes well! Remember, you can easily live in a smaller budget - you just have to adjust how you think about things a little.

 

[PrincessSuzanne]

I'm not so sure couponing wouldn't help, at least a little. Most of the coupons I use are on hygeine items, laundry soap, fabric softener, TP, papertowels, garbage bags, cleaning supplies, pet food. there is only 2 of us, but I manage to have about $25 to $50 every 2 weeks, it may no seem like alot, but it's better than nothing.

Dh's company is closing in January, so I am stockpiling a few things, most specifically TP and papertowels, and laundry soap, fabric softener. I just wish they wouldn't do it when it decides to get cold, because we don't generally have a gas bill otherwise, but we will manage. Between his unemployment and his Army Reserve pay, we should be fine.

 

[Bete]

Start out with watching Extreme Cheapstakes on the Learning Channel; this program is an eye opener. I can't do everything they suggest but I am using some ideas.

Make a budget and see where your money is going and make sure there's enough to cover the priorities. If you can't cover your bills then you need to make radical changes until it gets better. Once you put it on paper you will see what items can go easily.

Stretch your meat and make more casseroles. Use rice, pasta, pilaf, and other grains and cut way back on the meat. You can do this with soup, too. Make soup into a casserole. Add grains and more vegetables to the soup with a touch of meat. Learn to like eggs-cheaper source of protein. Eat more bread it fills you up. Learn to drink tap water. Skip the wine or whatever. You have to dig deep into yourself if you are going to cut back.

Combine all your road trips using the car. Don't keep wasting gasoline. Limit your trips everywhere. If you have a doctor's appointment, don't just go to the doc's. Do your shopping, too that day. The same holds true with the dentist trips. Your husband already in work may be closer to go to the stores than you. Learn to ride your bike to go places. Watch gasoline prices and try to buy on the low end of prices. Don't wait until the gas tank is way low then you have to buy on the high side sometimes.

Cut back on luxuries. I don't care what they are. Get a cheaper cell phone plan, for example. If you have a landline phone it may be time to pull the plug on it. Go to a cheaper computer wifi plan, too. No more renting videos or going to the movies. Find free things to do. Make your gifts or make services (like a massage) a gift for those special times. You can not spend on new cars, or vacations or expensive toys like the latest TV.

Conserve on energy. Don't leave lights on and not be in the room. Get everyone to use the same room to watch TV or whatever. Try to watch TV in the dark or with a night light. Start getting light bulbs with lower wattage. Limit your computer and/or video game time. Go to the library and use the computers there. Don't take baths and don't take long showers. Lower your heat valve on your hot water tank, too. Do your wash on a lower setting to use less hot water and less water. Lower your thermostat if you are in the heat mode or raise it if you are in the A/C mode. Wear warmer clothes or even a coat to stay warm. Blankets help, too. You can probably raise the thermostat on your refrigerator a little. When cooking in your oven, use the whole oven and cook many things at once together.

If you buy any services like snow removal or cutting grass that all has to end; do it yourself. Get you hair cut less often or better yet learn to do it for yourself. I don't give hubby a full cut, but with good trims we can skip half of his hair cuts yearly. You don't have to maybe quit your TV cable, but downgrade what you get and save some money that way. Wash your own car.

Don't buy anything if it's not on sale. Preferably, cut way back on spending. Learn to buy clothes and shoes on clearance, for example. You don't need the latest and greatest.

If you haven't learned how to do it yourself for home repairs start learning. The library can help you a lot, here. Getting advice from others can be good, too.

Try to do odd jobs for money like pet sitting or pet walking. Babysitting can help, as well. Consider doing housekeeping for someone. Caregivers are needed everywhere. You may be able to do a home job depending on your skills.

Your husband may have to pick up a part-time job. Take on whatever job there is around you. Don't get choosy. Flipping hamburgers gets you some pay. Retail at Christmas is an easy way to get work for right now. You never know if they won't keep you part-time afterwards if you are a good worker.

I think communicating with all the companies that you have to pay to each month may help. Maybe, you can even refinace your home to a lower interest rate. I have gotten loyalty credits for our satellite and wifi and phone services.

I know these tactics work. It's just a question of how much you can change to get where you need to be. Good luck.

 

[dealia]

I love the web site called money saving moms. Also, All You magezine has a site and you can sign up for the circular round up. It is simular to the grocery game but it is free. And remember CASH IS KING!. I use the envelope system. Espeacially at Christmas time. I find it easier that way if there is not any more cash in the weekly expense envelope we are done for that week and have to make due with what is on hand.

 

[BelleBeautyandtheBeast]

If you use fabric softener sheets, you can cut them in half and still get the same result and a box lasts twice as long.

Same goes with detergent, you can use half as much with the same result.

You can used a little vinegar in the fabric softener holder of your washer instead of expensive liquid fabric softener.

You can quickly, easily and cheaply make your own laundry detergent with Washing Soda, Borax and Fels Naptha. There are lots of recipes on the internet.

Only run full loads of laundry.

Turn your heat down an extra degree or two and throw on another layer of clothing.

Years ago when in a similar situation we asked family to help and ate dinner once a week at my parent's house and once a week at my ex's parent's house. This helped reduce our food costs plus we got to spend time with family (free entertainment).

Time yourself in the shower and see how fast you can shower. I have my own personal race going on with this lol. Also saves water. My family thinks I am nuts.

You can make all your own cleaning supplies for dirt cheap. Check out food.com for recipes. There are recipes for everything in food.com, even stuff that I would normally buy in a can like sweetened condensed milk.

I cut my sponges that I buy at the store in half.

Basically look at everything and try to get creative on how you can reduce how much you use or the cost or both.

Have fun seeing how much you can save!

 

[BadgerGirl84]

Join the "No Buy" board for November.

 

[Marionnette]

So I lost my job. Thankfully my DH makes more $$ than I did, so it's not the worst possible scenario. But it's still not good.
I'm applying for unemployment and hope that will come through, but it won't make ends meet even if it does.
I know all the normal tactics for cutting back, no eating out, buying generic, cut bills, etc.. But what are some not so common tips you have for making our $ stretch even further?
I honestly don't find that coupons help very much because I either don't buy much packaged food, or I buy generic.
DH won't get rid of cable unless we get to the point that we honestly can't make the house payment or something like that.
Appreciate the input -
Thanks!

Well, the obvious decision would be to cancel the vacation in your signature.

The next thing to do would be to compare what you have in your emergency fund with whatever you will receive in unemployment compensation. How long will this amount carry you?

Next, go over your recurring bills. List them all. Look for the "fat" in them. Get rid of it.

Do you have subscriptions that are on auto-renewal? Cancel the renewals. Gym membership? Drop it.

How about credit cards that have an annual fee? Get rid of them before the next year's fee is applied.

Carrying a balance on your credit cards? Do a balance transfer to a lower rate so that you save a little on the interest. Pay as soon as you receive the bill, not when it is due if you carry a balance. It helps to keep the compounding interest a little lower.

Check your husband's health insurance. Make sure that you're both covered fully now that you're no longer working. The last thing you need will be to have to pay for an uncovered illness.

Speaking of health insurance, fill any prescriptions before you're no longer covered by your employer.

 

[brymolmom]

Doesn't sound like DH is totally into it and honestly it likely won't be very effective unless you are BOTH on board 100%.

Here's what I would do:
- Cut back to basic cable (we don't have it at all - but if we did) or at the very least, get rid of premium channels, etc and go with a much lesser package.
- Cut way down on cell phones if you are not under contract. Get rid of data immediately...get rid of unlimited - share one cell.
- Agree on pp with plan every meal - have DH pack lunches and snacks for work. Plan less expensive meals - no need for meat and potatoes for every meal. How about just pasta with a salad one night? Pancakes and sausage are an inexpensive meal. Cut down on how much meat you eat - portions are usually too large anyway - make your usual one meal into 2 by just having more sides - veggies, etc.
-Write down every expense and stick to a tight budget. Don't even carry cash on you over $5 unless you have a specific thing to buy from the budget.
- Write down what you 'usually' spend for the holidays (make sure to factor in baking costs, xmas cards, New Year's eve champagne, etc PLUS all gifts) and then cut it in half or quarter. No need to bake $$$ - just choose one cookie and bake a couple batches. Since you'll have a bit of extra time without working - try hand making some things for gifts. Maybe going thru old photos and making a collage or something similar that people never take the time to do.

Best of luck finding something soon.

 

[OLT2004]

Wow!
All Great Ideas...I made Notes!

Not just for "Hard Times" But Day To Day...

 

[lvillotta1]

I am a Dave Ramsey fan. Create a strict budget and stick to it. Read his book The Total Money Makeover. Clean out the house and sell things on Craiglist or EBay. Become a minimalist. Live bare bones,eat rice and beans and yes cut cable now. Do you have CC debt? Dave talks about having a 6-8 month emergency fund so if there is a job loss you have money to fall back on. Many couples live on only one salary and bank the rest if good financial decisions have been made from day one. Sell a car,use public transportation. Shop at Aldi's and price match at Walmart. Use coupons. CreTe a stockpile of food that you could live off of for 1-2 months. Turn your thermostat way down or up depending on where you live. Only shop when you need food. Otherwise stay home and do not go to the mall and other places that you will spend at. By staying home you can save thousands of dollars. Immediately write down all your bills and what you owe. Pay the most important ones and then the less important ones just pay the minimum. Set up a strict grocery budget and cook from scratch. No more eating out or going out. Use a cash system or envelope system. Put in x amount money into various categories every 2 weeks and when that is gone it is go e. Stop using all debit and CC now. I could write a book.

Single of 2,debt free and 6 months emer fund fully funded.

 

[Mrs. Bradbury]

When we went through some especially difficult financial times a few years ago, I stopped going to my hairdresser. The lady I went to for years was beginning to charge almost $50 for a haircut every 6 weeks, which I had been OK with paying because my hair is curly and she knew how to cut it. That was just for a haircut - not shampooing or styling. I would go there on my lunch hour and she would wet it with a spray bottle and I would leave there with wet hair, to air dry.

Once it got long enough to pull into a ponytail, I was home free. I looked on the internet to learn how to trim it myself. I can honestly say that I don't think I will ever pay anyone to cut my hair again. I'll be the little old lady with a bun or a braid; I'm OK with it and so is my husband.

It's funny that in my late 40s I have long hair for the first time in my life.

FWIW, I decided at the first gray hair to go gray naturally, so coloring it will never be an expense either.

 

[mrsklamc]

You could always go to a great clips or super cuts for a quick clean up too.

 

[Dish]

You could always go to a great clips or super cuts for a quick clean up too.

Yep. Sometimes Great Clips has awesome discounts and you could also use your Supercuts coupons there.