In order to save, you have to have a gap between what you spend and what you earn. There’s no way around that. You can earn more, you can cut your costs, or both.
Everyone is interested in big ways to save money, but those suggestions are limited: buy a used car, live in a less expensive neighborhood. There just aren’t that many big ways to save.
However, there are endless ways to save in smaller ways, and they add up.
Creating financial margin is also about what you don’t spend money on.
Here are some of my spending choices. They aren’t recommendations for anyone else, though perhaps it will get your mental juices flowing about ways you can create more financial margin for yourself.
Things I don’t buy/spend on:
- We don’t go out to eat.
- I buy most of the ingredients for our meals at a discount and plan around them.
- I make almost everything from scratch.
- I don’t order takeout, no matter how tired I am.
- I don’t buy ready made freezer food.
- I don’t buy premade snacks.
- I don’t buy premade desserts or bakery items. The exception is sliced bread and pitas for school lunches, and sometimes Shabbos challah.
- I don’t serve desserts during the week.
- Takeout coffee or tea – I don’t drink coffee but I keep some in the house for visitors. I don’t buy creamers or flavored syrups.
- Soft drinks, soda, lemonade, sweetened tea – we drink water and buy seltzer for Shabbos. I make and preserve our own juice.
- Salad dressings – I make our own.
- Condiments or spice blends – I make them.
- Bottled water – when at home drink tap water. I have a filter but where I’m living, we have decent quality water. We fill water bottles to take with us when we go out,
- Disposable dishes – I primarily use them twice a year when I have lots of guests for Sukkos and Pesach, but very little during the rest of the year.
- Paper towels – I use rags and wash them.
- Hair cuts – I give haircuts for the entire family
- Hair products like hair oils, serums, styling gels, hairspray – I buy shampoo and conditioner.
- Hair dyes
- Scented bath products – epsom salts and some essential oils are all we use.
- Skincare products: toners, cleansers, serums, exfoliators, face masks, sunscreens – I don’t use any of them.
- Hand and body creams – I use shea butter and castor oil to make my own salves.
- Cosmetics – I don’t use more than lipstick on a regular basis; my sister gifted me with high quality makeup before our second child’s wedding and now I have a lifetime supply.
- Makeup wipes – soap and a washcloth does the job.
- Nail polish – I don’t use it other than to label pans.
- Beauty treatments – facials, botox, fillers – nope.
- Manicures/pedicures – you can learn to do these for yourself if you care about them, but I don’t.
- Scented candles, room fresheners – I don’t like artificial smells; we have an essential oil diffuser which is really nice but even that I rarely use.
- Cleaning products – I stick with the basics: dish soap, laundry detergent, oxygen spray for clothing, and toilet cleaner. Once a year for Pesach I use a heavy duty oven cleaner. I made my own citrus cleanser/degreaser, but generally baking soda (bought in bulk), vinegar (bought in bulk) and elbow grease do the trick for just about all cleaning.
- Floor wipes – I didn’t even know this was a thing until I took my mom shopping and she wanted them. I use a squeeze/sponja stick and washable rag to clean the floor.
- I rarely use the dryer – I hang clothes outside to dry, and pay attention to the weather in the rainy season to take advantage of sunny days and do lots of laundry then.
- Dryer sheets
- Gym membership
- Workout equipment
- New or leased vehicles – we buy used cars that we pay for in cash.
- Full service car wash – I don’t wash the car myself because our parking space is too far from my house for our hose to reach. Once a year I get a full cleaning done at the car wash. There are self-clean paid options for in between washes.
- Scented sprays for the car
- Vacations – we see our home as a place to enjoy being together. We don’t fly to destinations; we don’t stay in hotels. In the US we did yearly camping trips but since moving here have only done that once. (We’re talking about reinstating those.) We do paid day trips; for example, the older boys to a water park; the younger kids to an indoor amusement park. We have many hikes, picnics, and trips to the beach.
- Cleaning help – I’ve never had paid cleaning help; we clean our own house.
- Renovations – We’ve framed walls, replaced kitchens, put in a new bathroom, put up fencing, built decks, patios and pergolas, and tiled walls and floors. We do the work ourselves, so the costs are in time and materials. Still a big outlay though nothing compared to what it would cost to hire the work out. The exception that we pay for is plumbing and electricity.
- Catering – I’ve self-catered every family gathering, bar mitzva, l’chaim, engagement party and sheva brachos meal for over three decades.
- Impulse spending – when I go into a store, I get what I came for and don’t get distracted by things that look interesting.
- Shopping as a hobby or therapy – I don’t go shopping to make myself feel better or because I’m bored.
- I don’t shop to get an ingredient that I’ve run out of – I try to plan ahead but if I run short, I adjust my plans and use what I have.
- We don’t smoke, drink or gamble, so no expenses on any of those things.
- Jewelery – I have a minimum amount of real jewelery, and don’t have a desire to add to it. I occasionally buy some inexpensive costume jewelery to add some pizazz.
- Purses, handbags – I only use one at a time, and replace it every couple of years. I buy new because I look for something specific, but it’s not expensive.
- Magazines – I don’t buy them. A friend occasionally passes a pile of hers to me when she’s finished.
- Very limited afterschool activities – once the kids are home, I don’t want them to go out for more activities.
- Kids clothing – I buy as much as I can used, though not infrequently the ‘used’ clothing is new with tags from second hand sales.
- Kids toys – I buy toys infrequently; when I buy, I get good quality that will stand up to a lot of use and last for years, and can be used in different ways to maximize the play value.
- Kids books – I usually get from library sales or from community book exchanges. Occasionally I buy new books when it’s something I want to have; I bind or cover them with contact paper to keep them in good condition.
- Home decor – I stay away from the ongoing purchase of whimsical, seasonal items.
- New furniture – I buy good quality used items and maintain them.
I try not to look at what others have, and not compare myself to anyone.
A really strong principle for me is when I don’t have money for something, I won’t buy it. I don’t say, it’s a necessity so I’ll get it and figure out how to pay for it later. A friend many years ago told me she could never live like this, that it was too hard.
Sometimes this has been hard but it kept us out of debt even at times that would have financially sunk most people. And by keeping that commitment to living within (and below) our means, as our income went up, it made it possible to put aside larger sums of money.
Avivah
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