 |
|
 |
 |
|
|
Forum
-> Household Management
-> Finances
amother
|
 Sun, Jun 22 2014, 1:38 am
Bh my DH has 2 jobs but right now we are looking into buying the apartment that we are currently living in. In order to make the payments on the house we have to cut back.
Ive already decided to cut back the hrs of my cleaner to 6 hrs a week and to buy only one magazine a wk and borrow the rest. To eat more fish during the week. My Dh already buys in bulk cheap meats and other food stuff when there is a sale here.
I need more advice.
TIA
| |
|
| Back to top |
 3
 0
|
aussie2
|
Sun, Jun 22 2014, 2:11 am
I am sure other ppl will have better ideas as honestly I kind of have the same question myself. (not making it during expensive months.. yom tov, bein hazmanim etc.. and can't seem to find the money other months to save up for these expenses)
However, maybe try reading parts of the Mesila book. It discusses in there how you should try and make the most 'painless' cut backs. Meaning one person may not mind eating cheaper meals and another finds their kid must have music lessons and that is ok. sometimes it is not the most obvious things that are worth cutting back as you don't want to feel deprived. However, being that this is not because you are not making it financially and rather using it to save up for a house.. may be a little different as you know that this is something temporary and exciting..
Good luck!
| |
|
| Back to top |
0
0
|
amother
|
Sun, Jun 22 2014, 2:26 am
| aussie2 wrote: | I am sure other ppl will have better ideas as honestly I kind of have the same question myself. (not making it during expensive months.. yom tov, bein hazmanim etc.. and can't seem to find the money other months to save up for these expenses)
However, maybe try reading parts of the Mesila book. It discusses in there how you should try and make the most 'painless' cut backs. Meaning one person may not mind eating cheaper meals and another finds their kid must have music lessons and that is ok. sometimes it is not the most obvious things that are worth cutting back as you don't want to feel deprived. However, being that this is not because you are not making it financially and rather using it to save up for a house.. may be a little different as you know that this is something temporary and exciting..
Good luck! |
Op here my kids don't do anything extra and we weren't making it financialy before this came up.
| |
|
| Back to top |
0
0
|
abby1776
|
Sun, Jun 22 2014, 11:08 am
|
The obvious first place to cut is the cleaning woman.
| |
|
| Back to top |
0
11
|
out-of-towner
|
Sun, Jun 22 2014, 11:16 am
Unless you are talking about canned tuna, fist isn't cheaper than meat. You need to learn to make more meals out of other proteins, eggs, lentils, beans, tofu exc.
Buy lettuce and check it, a lot cheaper than pre-checked stuff.
Look in second hand stores or cheaper places such as Target for kids clothes and Payless for shoes. Kids grow out of things so fast (especially Shabbos shoes which they only wear once a week) that it isn't worth it to buy expensive stuff for them.
Maybe tell us a little more about your current lifestyle so we can help you more.
Hatzlacha!
| |
|
| Back to top |
0
8
|
November
|
Sun, Jun 22 2014, 11:18 am
|
When we were in real need of cutting back after my husband lost his job, I kept track of our grocery receipts and averaged out how much we spent on groceries. Then I tried to spend less.
| |
|
| Back to top |
0
1
|
|
amother
Seafoam
|
Sun, Jun 22 2014, 11:21 am
Deleted.
Last edited by amother on Sun, Jan 24 2016, 8:38 pm; edited 1 time in total
| |
|
| Back to top |
3
1
|
zaq
|
Sun, Jun 22 2014, 11:57 am
Might help if u gave a bit more detail about your overall sitch. 6 hrs a week sounds like an awful lot of cleaning help to me--when I was in my hardest stage of life with very small children, a F/T job, and a dh who worked 90-100 hours a week (and bringing in very little money for all that), I had a cleaning lady for 2 hours once in two weeks. I was lucky enough to have a very good library near work so I never, ever, spent money on books or magazines We never had fleishik during the week--only poultry Shabbos and YT, and then only the cheapest cut we could find, beef a few times a year as a special treat. We ate a quasi-ovo-lacto-vegetarian diet during the week, lots of milk, yogurt, grain-and-legume combos, casseroles, that sort of thing. Fish meant mostly cannned tuna and canned salmon, with frozen fillets being mostly for YT. Most of our food was made from scratch or as scratch as you can get living in a concrete jungle. My kids wore hand-me-downs if I was lucky enough to get them, and they didn't have a whole lot of clothes. I did at least one and sometimes two loads of laundry every single day and air-dried them all. For a long, long time I cut the kids' hair myself--they were fortunately young enough not to mind.
But what worked for me may not necessarily work for you. You might have no wash machine, 10 kids including newborn quadruplets, all of whom are lactose-intolerant and allergic to eggs, and fish may be cheap where you live. I suggest looking at the many, many frugal-living websites and books online and in the library. Start with "Penniless Parenting" by our own Seraph (her blog name is Penny). Look for the "Cheapskate" series of books by Jeff Yeager and the Tightwad Gazette by Amy Dacyczyn, and work your way from there.
One big principle most experts mention is "plugging small leaks". A LOT of money gets wasted by little things, like not turning off lights and appliances when not in use, buying groceries when they're not on special, not comparison shopping and not buying the size that costs the least per unit, as well as buying the size that's cheapest per unit but is too big for you to finish before it goes bad.
One pre-YT I was talking to a friend about YT menus and I said I didn't know what I'd be making because it depended on what would be on special at the supermarket. She said she had a set menu for each YT and she made that regardless of what was on sale or in season. She liked this because it was easy--she didn't have to plan anything, having planned it all long ago. But economical it wasn't.
Now if I want to make cream-cheese cake for Shavuot, you'd better believe that by Rosh Chodesh Iyyar I'm scanning the flyers for specials on cream cheese and other ingredients to buy and freeze. Of course, cream cheese is not only expensive but also really unhealthy, so I don't make cream-cheese cake any more; I look for recipes that call for cottage cheese, farmer cheese, or yogurt cheese instead, and may make only half the recipe. I often make only half as much crust as the recipe calls for and sometimes leave out the crust entirely. I often reduce the quantity of sugar and oil in called for in recipes, which makes the dish not only cheaper but healthier.
| |
|
| Back to top |
1
9
|
amother
|
Sun, Jun 22 2014, 12:11 pm
| zaq wrote: | | Might help if u gave a bit more detail about your overall sitch. 6 hrs a week sounds like an awful lot of cleaning help to me--when I was in my hardest stage of life with very small children, a F/T job, and a dh who worked 90-100 hours a week (and bringing in very little money for all that), I had a cleaning lady for 2 hours once in two weeks. I was lucky enough to have a very good library near work so I never, ever, spent money on books or magazines We never had fleishik during the week--only poultry Shabbos and YT, and then only the cheapest cut we could find, beef a few times a year as a special treat. We ate a quasi-ovo-lacto-vegetarian diet during the week, lots of milk, yogurt, grain-and-legume combos, casseroles, that sort of thing. Fish meant mostly cannned tuna and canned salmon, with frozen fillets being mostly for YT. Most of our food was made from scratch or as scratch as you can get living in a concrete jungle. My kids wore hand-me-downs if I was lucky enough to get them, and they didn't have a whole lot of clothes. I did at least one and sometimes two loads of laundry every single day and air-dried them all. For a long, long time I cut the kids' hair myself--they were fortunately young enough not to mind. |
New amother.
How are you managing now?
| |
|
| Back to top |
0
0
|
amother
|
Sun, Jun 22 2014, 12:24 pm
Op here. I have four kids all in school. My Dh works with fish so for me its cheap. I do every now and then go to 2nd hand stores for cloths. Cutting down on the cleaning lady from 14 hrs a wk to 6 is a lot and unfortunately I cant do the heavy cleaning myself cause of back and knee problems. And if I do do the cleaning ill have to go spend even more money on a chiropractor.
My Dh buys meat in bulk for really cheap. A few times a year there is a massive sale on all meat fish and food stuff and cleaning supplies etc.
| |
|
| Back to top |
0
0
|
asp40
|
Sun, Jun 22 2014, 12:54 pm
|
Honestly, if you are barely making it now with renting, I would be wary of buying. Buying requires you to have a large down payment as well as money for repairs and everything else that comes with ownership.
| |
|
| Back to top |
0
12
|
SRS
|
Sun, Jun 22 2014, 1:03 pm
|
It really does not sound like you are in a good position to buy and take on the liability of a mortgage and the responsibility for the big repairs that are sure to hit if, after working 2 jobs, things are too tight to make the mortgage payments. I would recommend cutting back and saving up, but not rushing into buying until you have a budget that supports a mortgage payment.
| |
|
| Back to top |
0
3
|
Dev80
|
Sun, Jun 22 2014, 1:06 pm
I'm also always wondering how we can cut back but haven't taken SUCH practical steps, some things we do implement:
-cheaper/less snacks for the kids (for lunches) [we were spending a lot on snacks that weren't necessarily healthy, so we've gotten better and it for sure saves us]
-not putting off buying essentials, meaning if you know you'll need diapers by Wed but are doing a shop on Mon try to get them then since that trip on Wed will probably mean you'll spend more (being generally more organized with shopping/lists can help you save in that sense)
-cut back on Shabbos guests if you are making big meals....I definitely spend more time/effort on guests as dh and I appreciate simplier and healthy foods but for guests I make things like kugels, crisps, deli roll, etc. Maybe limit it to 1-2 shabbosim a month instead of four (or scale back as needed)
-think twice before buying - toys, clothes, shoes since you know this is a temporary situation (although as the poster before me said there may just be more expenses coming up!)
-if you're in the USA you can get a lot of products at dollar stores/amazing savings (deodarent, toothpaste, toothbrushes, socks, etc)
Just some ideas but lots of luck I hope you have much success!!
| |
|
| Back to top |
0
2
|
cookiecutter
|
Sun, Jun 22 2014, 1:08 pm
| SRS wrote: | | It really does not sound like you are in a good position to buy and take on the liability of a mortgage and the responsibility for the big repairs that are sure to hit if, after working 2 jobs, things are too tight to make the mortgage payments. I would recommend cutting back and saving up, but not rushing into buying until you have a budget that supports a mortgage payment. | I wholeheartedly disagree with this. If it costs, say, 10% more to pay a mortgage than it costs to rent, you will pay more for two, maybe three years but rent continues to rise and soon the payments will be equal. After that your payment stays the same until the mortgage is paid off. If you keep renting because you can't afford it, then in three years you'll be paying the same amount anyway and not only will you not be able to afford it, but you'll also know that it will continue to rise.
| |
|
| Back to top |
0
0
|
amother
|
Sun, Jun 22 2014, 1:08 pm
| asp40 wrote: | | Honestly, if you are barely making it now with renting, I would be wary of buying. Buying requires you to have a large down payment as well as money for repairs and everything else that comes with ownership. |
Since Op is living there already, she probably has an idea of what repairs are needed.
| |
|
| Back to top |
0
0
|
MaBelleVie
|
Sun, Jun 22 2014, 1:09 pm
| cookiecutter wrote: | | I wholeheartedly disagree with this. If it costs, say, 10% more to pay a mortgage than it costs to rent, you will pay more for two, maybe three years but rent continues to rise and soon the payments will be equal. After that your payment stays the same until the mortgage is paid off. If you keep renting because you can't afford it, then in three years you'll be paying the same amount anyway and not only will you not be able to afford it, but you'll also know that it will continue to rise. |
A homeowners needs a cushion to pay for unexpected repairs as well as routine maintenance. It's not as simple as making the monthly mortgage/taxes/insurance payments.
| |
|
| Back to top |
0
5
|
mummiedearest
|
Sun, Jun 22 2014, 1:21 pm
|
just chiming in on the mortgage discussion. the week we moved into our house, the water boiler broke. we had to replace it. that's not cheap. since we moved in a few years ago, we've had to convert the heating system from oil to gas (dh spent many nights "babysitting" the oil system, which would randomly turn off. he'd literally sleep in an office chair next to the boiler room and wake up when he heard the safety turn it off. then he'd try to coax it back on. fun, fun.), replace the ceiling of one room, and redo part of the roof. the drainpipe of one sink has fallen off TWICE(I kid you not) due to shoddy workmanship in installing that line. two outlets don't work because a previous owner destroyed those lined, and it's a few hundred dollars to install new ones. the back porch has needed to be repaired a couple of times. b'h, dh and I are pretty handy and handle a lot of these problems ourselves. but there is always something to fix, and it's not always possible to do yourself. and we've had contractors just stop showing up. converting the heating system took five months due to the plumber's nasty attitude. homeownership ain't easy or cheap.
| |
|
| Back to top |
2
2
|
SRS
|
Sun, Jun 22 2014, 1:24 pm
| cookiecutter wrote: | | I wholeheartedly disagree with this. If it costs, say, 10% more to pay a mortgage than it costs to rent, you will pay more for two, maybe three years but rent continues to rise and soon the payments will be equal. After that your payment stays the same until the mortgage is paid off. If you keep renting because you can't afford it, then in three years you'll be paying the same amount anyway and not only will you not be able to afford it, but you'll also know that it will continue to rise. |
I have owned both homes and apartments. In the apartment, the condo fee was pretty steady for years on end and then, boom!, special assessment that shot it up over 20% for the next number of years. Building needed major repairs. By the by, the homeowner's fee, is directly affects your property value and ability to sell it. I can tell you about a house that required little maintenance that wasn't covered by a warranty that was part of the purchase except for one very expensive replacement within 6 months of moving in that is not covered by warranty and cost some major dough.
Yes, general home costs go up. Yes, generally rental costs go up. Yes, buying generally lowers your taxes. Yes, renting is generally a bad long term plan. But here and now. . . if you can't support the purchase of a home on one single income, you are looking at a situation that isn't good. And if you need 6 hours of household help a week (down from 14), it sounds like there is a lot going on and that might need to take precedence.
I love home ownership, but home ownership is a long term benefit that needs financed in the short term. I don't think it is wise to make big purchases based on the fear of increased costs, rather that make a decision based on current readiness.
| |
|
| Back to top |
0
1
|
amother
|
Sun, Jun 22 2014, 1:38 pm
| mummiedearest wrote: | | just chiming in on the mortgage discussion. the week we moved into our house, the water boiler broke. we had to replace it. that's not cheap. since we moved in a few years ago, we've had to convert the heating system from oil to gas (dh spent many nights "babysitting" the oil system, which would randomly turn off. he'd literally sleep in an office chair next to the boiler room and wake up when he heard the safety turn it off. then he'd try to coax it back on. fun, fun.), replace the ceiling of one room, and redo part of the roof. the drainpipe of one sink has fallen off TWICE(I kid you not) due to shoddy workmanship in installing that line. two outlets don't work because a previous owner destroyed those lined, and it's a few hundred dollars to install new ones. the back porch has needed to be repaired a couple of times. b'h, dh and I are pretty handy and handle a lot of these problems ourselves. but there is always something to fix, and it's not always possible to do yourself. and we've had contractors just stop showing up. converting the heating system took five months due to the plumber's nasty attitude. homeownership ain't easy or cheap. |
OP here. Bh my dh is an electrician and all over handyman so he can fix anything that goes wrong. 6 months ago the upstairs neighbor sold and the new owner changed the heating and water from fuel to gas so the owner of my house paid that. The mortgage on this apartment will be the same as paying rent so thats not so bad. right now we are getting together the money for a down payment which we need to have by the end of this week.Dh is under a lot of stress from this. Hopefully we will get it.
| |
|
| Back to top |
0
1
|
| Related Topics |
Replies |
Last Post |
|
|
When they go back to Yeshiva
|
20 |
Sun, May 12 2024, 4:14 pm  |
|
|
1mo not gaining, not back to birth weight
|
2 |
Sun, May 12 2024, 1:51 pm |
|
|
What is this cut/style called
|
0 |
Sun, May 12 2024, 8:54 am |
|
|
To hold back or not?
|
42 |
Sun, May 12 2024, 8:30 am |
|
|
2nd cut Brisket vs square cut roast vs deckel
|
0 |
Thu, May 09 2024, 8:07 pm |
|
|
Imamother may earn commission when you use our links to make a purchase.
© 2024 Imamother.com - All rights reserved
|  |
 |
|
 |
|
|
