Tomorrow's the big day! Not that today is any different. I'm really trying to not be one of those people who, right before starting a big diet, have a binge day. So, no online shopping, no eating out, no going to three movies tonight just because starting tomorrow I can't. That would be irresponsible, and until we get the rent check from our condo, impossible.
I promised that today I would write about our policy of accepting gifts and treats this month. Because we live in a communal house, every once in a while, someone gets a bug and decides to "treat" everyone to dinner or a movie or something. This is a lovely, generous impulse and we've all done it at one point or another in the time that we've been living together. The only problem is that none of us really have the money to do that. Everyone is either retired and on a fixed income or unemployed and on a fixed income or Tony and me, who have had no income to speak of for years. No Diamond Jim Bradys here.
The policy I've decided on for the month, then, is that we aren't allowed to accept "treats" from anyone else. In order to encourage greater fiscal responsibility in the entire house, if we can't afford to do it on our own, we don't do it. If everyone else wants to eat Chinese or go out for a movie, Tony and I will graciously decline and stay home. If we can't afford it, we don't do it.
I believe very strongly in paying one's own way in the world. I know Tony feels the same way. I've tried very hard my entire adult life not to take any handouts or help from people. I feel terribly guilty when it does happen, especially if that person didn't really have the extra money to give. I understand that generosity is a good impulse we shouldn't deny, and I am often generous to a fault myself, but I just think that, at 30, I should be completely independent. Hell, I felt that way at 20. I will admit, I lived with my mom for three months after my first divorce in order to save some money to get my own place, but I hated feeling as though I was going in reverse. Even though the place I ended up living was pretty awful (the Papa John's guy got mugged on my doorstep, and I did have to crawl on the floor one time when I heard gunshots nearby), it was still mine. And my first mother-in-law was incredibly generous with me, but I always felt as though I could never really "own" the things I was given because I didn't earn them or pay for them myself.
So the point of this month is not to embrace austerity for ourselves and take advantage of everyone around us. Tony and I have to make tough decisions. We can't have our cake and eat it, too. We can't just bat our eyes at the dinner table and flash an empty wallet, hoping someone else takes pity and picks up the check. We need to admit where we are, embrace it and get through it. In the end, I hope it will build some character for us.
Sunday, January 30, 2011
Austerity Project, day -1
Okay, so today's day -1 because we are still technically in January and the project doesn't start until February 1. I promised yesterday that I would tell you how I would track myself and my temptations and as soon as I finished the blog yesterday, the temptations started. So we'll start there.
I'm pregnant. Occasionally, that means I have food cravings (Actually very occasionally. The biggest craving I seem to have most days is to never have to think about or eat food again. Crippling heartburn will do that to you.) But yesterday, for lunch, I really really wanted Wendy's chicken nuggets. But, it wasn't worth it to me to use the gas to go to Wendy's, spend the $2 on nuggets and then whatever else I would want, and what Tony wanted, too. So I had an apple, a piece of cheese and some crackers. And that was pretty tasty, I gotta say. If I weren't doing this project, though, Tony and I would have probably blown $10 at Wendy's and never batted an eye.
So that's how it works. I'll keep track of the things I would normally mindlessly spend my money on and then feel better about not doing it. Or something like that. I think the hardest part will be that we still "need" some things for the baby (diaper cream, baby monitors, etc.) but I'm committed to wait until March to get any of it. Let's all just keep our thoughts focused on baby girl NOT coming to the world three weeks early, 'cause that would TOTALLY screw up my plan. Plus, I want it to be warmer when she gets here. I wouldn't want to go from a nice warm belly into February in Northern Kentucky, that's for sure. Heck, I don't want to go from a nice warm HOUSE into February and I'm actually equipped to regulate my body temperature.
When we do spend money, whether for groceries or gas or drugs (prescription medications, people), I'll write about it here, tell exactly how much it cost and then subtract it from my total allowance for the month. If we get any windfalls (like we win the lottery or someone starts anonymously mailing us $20 bills) I'll detail that and add it to the allowance. Any emergencies, you'll know about them, too. But just know that I have Sarge on a strict diet and exercise regimen to prevent any further vet visits. He'll be healthy if it's the last thing I do.
Tomorrow, a few more rules about accepting gifts and treats and we'll be ready to go.
I'm pregnant. Occasionally, that means I have food cravings (Actually very occasionally. The biggest craving I seem to have most days is to never have to think about or eat food again. Crippling heartburn will do that to you.) But yesterday, for lunch, I really really wanted Wendy's chicken nuggets. But, it wasn't worth it to me to use the gas to go to Wendy's, spend the $2 on nuggets and then whatever else I would want, and what Tony wanted, too. So I had an apple, a piece of cheese and some crackers. And that was pretty tasty, I gotta say. If I weren't doing this project, though, Tony and I would have probably blown $10 at Wendy's and never batted an eye.
So that's how it works. I'll keep track of the things I would normally mindlessly spend my money on and then feel better about not doing it. Or something like that. I think the hardest part will be that we still "need" some things for the baby (diaper cream, baby monitors, etc.) but I'm committed to wait until March to get any of it. Let's all just keep our thoughts focused on baby girl NOT coming to the world three weeks early, 'cause that would TOTALLY screw up my plan. Plus, I want it to be warmer when she gets here. I wouldn't want to go from a nice warm belly into February in Northern Kentucky, that's for sure. Heck, I don't want to go from a nice warm HOUSE into February and I'm actually equipped to regulate my body temperature.
When we do spend money, whether for groceries or gas or drugs (prescription medications, people), I'll write about it here, tell exactly how much it cost and then subtract it from my total allowance for the month. If we get any windfalls (like we win the lottery or someone starts anonymously mailing us $20 bills) I'll detail that and add it to the allowance. Any emergencies, you'll know about them, too. But just know that I have Sarge on a strict diet and exercise regimen to prevent any further vet visits. He'll be healthy if it's the last thing I do.
Tomorrow, a few more rules about accepting gifts and treats and we'll be ready to go.
Saturday, January 29, 2011
The Austerity Project
Well, long time no see! Things have been...busy...around the Coutsoftides house. We have been working hard, we've been pregnant (still are, in fact), we've been stressed, we've been happy. Usually all in the same 10 minute period.
But now, it's time to get serious. Baby girl is due in seven weeks. Our checking account is dwindling more quickly than I ever thought possible. (Backstory: Tony and I have been living on our savings account, plus a little from the business, for nearly two years now. NOT EASY. The business is doing well, but the electric company probably isn't going to start accepting loose change to pay the bill any time soon, so we have to be very careful the next few months.)
Every month, it seems, the budget flies out the window. Tony needs a root canal. Our medical insurance doesn't cover maternity care, so we have to pre-pay for the birth and everything that goes along with it. (Not that I'm complaining - we are getting a heck of a deal, but $400 a month is still pretty steep.) Sarge got sick and racked up $1000 in vet bills. We've been taking some hits, in other words.
So we find ourselves at the tipping point. We know that the business will only continue to grow, but we can't pay ourselves enough yet to cover all our monthly expenses. The savings account is nearly non-existent. So what are we to do?
The answer, it seems, is nothing. For an entire month. At least.
I'm going public with this (which any of you who know me will understand is very difficult because I'm usually loathe to admit that I'm struggling with anything, especially my finances, which I view as incredibly private. But at a certain point "We're doing just great!" starts to make you feel like a fraud.) to keep us honest. I want to chronicle the next 28 days, tracking all our expenses and temptations to make sure that we don't give up and spend ourselves into bankruptcy.
Here's the plan:
1. Tony and I have already paid our bills for February - mortgages, car payments, etc. We know exactly how much is left in the account. It's enough to cover mid-month bills and roll over a bit for March. I'm not particularly inclined to reveal what that is, just because the number gives me the shakes. It's that low.
2. Our budget for groceries is always $400. In the hostel we operate here, we split the grocery bill five ways, but Tony and I front the money and then are reimbursed weekly. We just have to make sure our 2/5 share doesn't exceed $400. Shouldn't be too hard, even though we eat every single meal at home - breakfast, lunch and dinner 365 days a year. No free office lunches here.
3. We have a few prescriptions and over-the-counter medications we take on a regular basis, plus it is cold and flu season, so I'm allotting $150 for medications and potential doctor's visits. I feel that's generous. (Note to Tony: STAY HEALTHY. Note to self: STAY EVEN HEALTHIER!)
4. Tony and I have $49 in cash and two $25 gift certificates for restaurants. That's our fun money for the entire month. We are not allowed to spend anything beyond that. AT ALL. Basically, no dining out, no shopping, no movies, no nothing.
5. Because we don't drive very much, I'm allowing one fillup of the car. That averages $45 with our Kroger fuel points.
In summary, we have $550 for groceries, $45 for gas and a little fun money. And 28 days to NOT spend it. Anything we don't spend gets rolled over for March, because I have a feeling this is going to be a half-year of austerity.
Tomorrow, I'll let you know how I am tracking us and our temptations. Oh, and if anyone would like to play along at home - perhaps we're not the only ones facing a time of sweating it out - let me know. I'd love the company.
But now, it's time to get serious. Baby girl is due in seven weeks. Our checking account is dwindling more quickly than I ever thought possible. (Backstory: Tony and I have been living on our savings account, plus a little from the business, for nearly two years now. NOT EASY. The business is doing well, but the electric company probably isn't going to start accepting loose change to pay the bill any time soon, so we have to be very careful the next few months.)
Every month, it seems, the budget flies out the window. Tony needs a root canal. Our medical insurance doesn't cover maternity care, so we have to pre-pay for the birth and everything that goes along with it. (Not that I'm complaining - we are getting a heck of a deal, but $400 a month is still pretty steep.) Sarge got sick and racked up $1000 in vet bills. We've been taking some hits, in other words.
So we find ourselves at the tipping point. We know that the business will only continue to grow, but we can't pay ourselves enough yet to cover all our monthly expenses. The savings account is nearly non-existent. So what are we to do?
The answer, it seems, is nothing. For an entire month. At least.
I'm going public with this (which any of you who know me will understand is very difficult because I'm usually loathe to admit that I'm struggling with anything, especially my finances, which I view as incredibly private. But at a certain point "We're doing just great!" starts to make you feel like a fraud.) to keep us honest. I want to chronicle the next 28 days, tracking all our expenses and temptations to make sure that we don't give up and spend ourselves into bankruptcy.
Here's the plan:
1. Tony and I have already paid our bills for February - mortgages, car payments, etc. We know exactly how much is left in the account. It's enough to cover mid-month bills and roll over a bit for March. I'm not particularly inclined to reveal what that is, just because the number gives me the shakes. It's that low.
2. Our budget for groceries is always $400. In the hostel we operate here, we split the grocery bill five ways, but Tony and I front the money and then are reimbursed weekly. We just have to make sure our 2/5 share doesn't exceed $400. Shouldn't be too hard, even though we eat every single meal at home - breakfast, lunch and dinner 365 days a year. No free office lunches here.
3. We have a few prescriptions and over-the-counter medications we take on a regular basis, plus it is cold and flu season, so I'm allotting $150 for medications and potential doctor's visits. I feel that's generous. (Note to Tony: STAY HEALTHY. Note to self: STAY EVEN HEALTHIER!)
4. Tony and I have $49 in cash and two $25 gift certificates for restaurants. That's our fun money for the entire month. We are not allowed to spend anything beyond that. AT ALL. Basically, no dining out, no shopping, no movies, no nothing.
5. Because we don't drive very much, I'm allowing one fillup of the car. That averages $45 with our Kroger fuel points.
In summary, we have $550 for groceries, $45 for gas and a little fun money. And 28 days to NOT spend it. Anything we don't spend gets rolled over for March, because I have a feeling this is going to be a half-year of austerity.
Tomorrow, I'll let you know how I am tracking us and our temptations. Oh, and if anyone would like to play along at home - perhaps we're not the only ones facing a time of sweating it out - let me know. I'd love the company.
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