Saving money feeds my soul.
My husband and I had one of our money talks. We’d just watched Anderson Cooper on CNN speak about the economic crisis in the US and had also reviewed our finances. As in business and life, you have more money when, a) you spend less or b) you make more. Currently we’re in the spend less category, already conscious consumers, we looked at how we could spend less. Eeeshk! Buy cheaper stuff? The word frugal conjures up “cheap” for me so I checked the definition: “economical in use or expenditure; prudently saving or sparing; not wasteful.” I love not wasting and I can be prudent. So we put our heads together and came up with a plan.
Our Monthly Thoughtful Savings List:
Milk: no more organic milk, save $30.00
Newspapers: read on line, save $20.00
Fruit and veggies: buy from local produce shop, save $75.00
$5 organic chocolate bars: only once a week, save $20.00
Dry cleaning: hand wash clothes, save $30.00
Lunch: take to work, save $150.00
House cleaner: down to twice a month, save $100.00
Coffee: bring from home, save $50.00
Bus to work: savings in gas $80.00
Make wine with friends: (it tastes fabulous), save $100.00
Greeting cards:create my own, save $20.00
TOTAL monthly savings: $ 575.00
Update
We realized a priority is food, organic milk is a must. The bus doesn’t work for me; it takes too long, can’t take the bad weather and I bring my dog, Billie, to the studio. I’ll be green-conscious in other areas. Being thoughtful about my purchases saves money but what’s most fulfilling is the contribution to my family, my community, and our earth. I am thrilled to create an inexpensive pasta dish with the best extra virgin olive oil or to buy a vintage tweed skirt for three dollars and wear it with a Max Mara coat that I’ve had for ten years.
What would it be like if we asked ourselves before every purchase, does this add value to my life?
Do I need this?
Can I pay cash?
I’m starting a revolution in Frugal Living, join me! Let me know how you live consciously, simply and richly.
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October 14th, 2008 at 6:16 am
Just the right kind of inspiration at just the right time. Thanks, Carrie!
October 14th, 2008 at 7:24 am
In addition to asking myself if something adds value to my life, I ask if my buying it possibly adds value to someone else's life. That has been huge for me and I learn something new everyday. I just learned about the cocoa plantations of Ghana and Ivory Coast and the way in which young children are virtually slaves in these fields. By understanding more about where products come from, I feel more open, considerate, and caring.
October 14th, 2008 at 7:34 am
I'd like to chime in on the organic milk issue. We buy it all the time, but I'm not sure it's worth it. In BC, cattle are not pumped full of hormones, which is the main thing you want to avoid. However, organic milk does not mean that cattle never receive antibiotics or other medication; instead they're briefly removed from milk production when they're dosed. So I think it makes at best a marginal difference, and organic milk may be psychologically comforting but not necessarily worth the premium.
But someone correct me if I'm wrong…
October 14th, 2008 at 7:55 am
I'm so glad you brought this up – chocolate production is an issue that more people need to know about. I'm going to check out the free trade stuff at Whole Foods – or, we might just give out stickers and tattoos that we get from the dollar store.
October 14th, 2008 at 9:46 am
The origin of products is essential! And asking if a purchase adds value to someone else's life is lovely L'Tanya, thanks.
October 14th, 2008 at 7:48 pm
I like your questions – very helpful as a sieve before making any purchase.
I also like one of your other posts where you point out that cheap can be expensive in the long run.
I'm cultivated – put me in almost any store and somehow the thing I most desire will have a big price tag – I don't plan it that way – it's just what I love.
So, I'm working on your amortization theory – letting myself spend big on some purchases knowing I'll have/love the items for years – amortizing can be my friend (still have trouble parting with the cash, though!).
October 15th, 2008 at 6:20 am
I actually feel that buying organic milk *saves* my household money each month. Organic milk — for a number of reasons — stays fresher much longer than conventional milk.
If we buy a gallon of organic, we can stretch that through 2-3 weeks, where a normal container of milk would be well spoiled.
Buying organic is more expensive upfront, but allows us to purchase less milk throughout the month and feel good about what we're buying!
October 15th, 2008 at 8:13 am
I didn't know that, thanks kc!
October 15th, 2008 at 7:06 pm
I love my brand of organic milk that I buy here in Australia… It just tastes so much better.
October 15th, 2008 at 7:07 pm
Its so strange, I find this to be true, too! Whenever I buy non-organic, I find myself throwing out off milk. Such a waste. But my organic brand seems to last so well..
October 17th, 2008 at 7:24 am
Just had to agree with the others that organic milk saves us so much money. In addition to tasting much better, it never goes bad before my family finishes a carton. It's been five years now for us and we have saved a lot. Plus, no guilt for pouring spoiled milk down the drain.
November 13th, 2008 at 2:02 pm
Or, take a look at the other side of the coin. Besides saving, how to add another stream of income doing something you love? Now, that will make you think.
January 14th, 2009 at 5:39 am
At the time of financial crises we need to come together united and try to solve the problems which are responsible for such a hazard. We need to overcome it. It is meant to bring calm to the population and markets and display government strength and stability.
May 24th, 2009 at 3:35 am
In addition to asking myself if something adds value to my life, I ask if my buying it possibly adds value to someone else's life.