6 months after we moved out here, the economy tanked and my hubby’s business took a massive hit. We had to quit paying on our credit cards and let 2 cars and hubby’s motorcycle get repossessed. It was awful feeling knowing you had a very, VERY successful business and in a blink of an eye it could all be taken away. But we kept at it and Hubby’s business was one of the few small cabinet shops to pull through. A lot of friends of his had to close their doors and walk away after years and years of being in business. We did everything we could to make it through and the best part is our children never knew we were poor. Today when I talk about the bad days, they are shocked. That I am thankful for.
During that time, I found ways to be frugal and live on cash only. Something I had never done in my entire life and something my hubby had to relearn. If there was no cash for it, then it wasn’t happening.
Now here we are 2013 and I have been looking back at all the stuff we spend money on that we really don’t need right that minute. First off, my hubby loves to spoil me and sometimes it’s very hard to say no when he wants to buy new boots (my obsession) or when he wanted to buy me an expensive camera because I said I would like to photography classes. And if a computer or TV breaks, we have to replace it ASAP. These are all things that could have been bought as christmas presents and he wouldn’t be struggling to get me something now. Hubby can be very extravagant sometimes, spend a $1000 at one time and not even blink. That shocks me.
We are still on a cash system, but have not been frugal at all. We eat out too much….way too much! And every time we go to the store the kids want drinks, snacks or toys. Hubby is constantly buying tools or other things he says he needs.
So with that said we have taken another hit. Now we need to cut back our grocery spending to just $500. I was spending anywhere from $800-$1000 and still listening to everyone complain there was nothing to eat. They also are in a phase of everything needs to brand name. My family also had an aversion to leftovers. Some family members would have a cow if they didn’t have a freshly prepared meal. I don’t even want to know how much money I threw out with all the leftovers.
Well change is coming. I am getting back to basics. The snacking all day is out! The sodas all the time is out! The fast food lunches is out!
We are self employed! We don’t have a 401K or retirement plan. We have only what we have saved. And since my hubby turns 40 next year and isn’t getting any younger. 2014 is my getting back to being frugal and saving year.
Time to break out the Dave Ramsey book and refresh.