Penny Pinching Goodness.

[Mrs-M]

Penny pinching goodness is nothing new (that's a fact), but as tough economic times continues to tighten it's grip and rear harder on it's reins when it comes to the hardworking, I can't help but wonder what sorts of penny pinching journeys other SL folk are coddling (these days) to help numb the pain and discomfort of steadfast financial strain.

[herbgeek]

I'm not a big fan of the term "penny pinching". To me, it conjures up dark images of curmudgeons counting every coin, and focused on the negative of life missing all its juice, joy and fullness. The term brings up scarcity and lack to me. That's not how I want to live.

That said, with this economy, and my being unemployed, I've had to make somewhat different prioritizations as to how I spend my time and money. We focus more on free activities, which is easier in the summer with lots of free concerts, and picnics, and hiking and kayaking we can do. I'm learning how to dehydrate and vacuum pack foods from the garden to enjoy later in the fall. I'm enjoying the flowers in my garden, and having time to appreciate them. I spend a lot of time with my pets, getting to know all of their idiosyncracies. I joined a hiking club, so I have something to do once or twice a week out of the house while hubby is working that doesn't cost me anything. I spend my money on small, regular indulgences (like good tea) I can enjoy every day, rather than large purchases. We watch streaming movies via Netflix- I've never liked going to the movies much anyways because people are so ill behaved there.

I try to focus on the positive aspects of having all this time available to me instead of focusing on how few jobs there are in my field to apply for. I make intentional choices on where to spend the limited cash. While I AM saving money, I don't really consider it "penny pinching". There's no joy in that for me.

[Bastelmutti]

We are very lucky to have steady jobs, so we are basically continuing to pay down debt (mostly a student loan) and "pinching" here and there (mostly on groceries and eating out) to be able to give our kids some activities we want them to participate in.

[treehugger]

Pinching pennies is a constant focus. I watch every penny like a hawk (in too many ways to bother listing here) and we still have trouble making ends meet. It's exhausting.

Kara

[Gardenarian]

For us, it has been cutting out the big things - travel, new home stuff (we could really use a new refrigerator, and the fan over the stove has been broken for months), camps and workshops for dd (she did Girl Scout camp this year, which was well priced.) We have always bought most things (clothes, furniture, etc.) second-hand.
DD wants to take horseback riding, and it just seems like too much of a luxury - but I hate to deny her. She has been doing very well homeschooling and is working at least 3 grades ahead of her age.

I don't miss the big things that much - I really enjoy taking day trips more than going on a big vacation - but daily penny pinching (when you have to think twice before buying an ice cream cone or a used book) would drive me nuts. I had enough of that in college! That is why we are so frugal in most areas - so we can live easily day-to-day.

[Mrs-M]

Herbgeek. I totally agree with you Re: the connotation surrounding penny pinching, but IMO, penny pinching has such a pleasant ring to it! IMO it reverberates no-nonsense seriousness. (Buckling down for real). No half-measure involved...

Love everyone's pinching remedies. For us it's getting by with one vehicle (most inconvenient at times, but), eating at home, being conservative as to frivolous extras, and being wise and smart when it comes to shopping.

Coming to terms with how much you have to work with from day to day, month to month (IMO) is the first and foremost important issue (conservative side/aspect) a family can practice. (Knowing ones spending power and purchasing clout- and living by it definitely takes the bite and stress out of living).

[Gardenarian]

Eating at home, definitely. I dislike restaurants, so this is an easy one for me! I'm always surprised when I read statistics on how often people eat out. I feel like I never know exactly what I'm getting in restaurants, and I prefer very simple food.

[Mrs-M]

Gardenarian. One thing I find about bought (already made food) is, it doesn't sit well with me. Somehow I feel heavier and more full after eating restaurant food, and as far as fast food goes, it usually comes out just as fast as it goes in. Most likely my body reminding me who much it appreciates home-cooked/prepared goodness.

[Rosemary]

Eating well at home is one of our primary savings. Although we have tested all foods now from our allergy elimination several months ago, we still are not eating out much. I prefer it that way... food at home is much better, and a lot cheaper. (Example: one of our more costly dinners - we can all eat wild Alaskan salmon, with a great salad and fresh, local vegetables, for a grand total of about $9 - or $3/person. In a restaurant, one entree of farmed Atlantic salmon, with inferior sides, would cost at least $15, plus tax, plus tip.)

Our garden is another source of savings. This year I harvested about 13 pounds of organic strawberries - this would cost over $50 in the store, but my input was about $10 for plants 4 years ago and about an hour of weeding every year. And in the meantime, I've given about 5 friends strawberry plants to start their own gardens.

We really try to limit recurring costs, such as:
* we never water our lawn, for environmental as well as cost reasons
* we have a basic cell phone plan and basic phones. No need to be on the internet more than we already are. No land line.
* anything that gets replaced is more energy-efficient, and we've added insulation and insulating window coverings. If I compare recent gas & electric bills to our first year here, 6 years prior, I find that we are using about 20% less energy, but the house is a lot more comfortable, because of the changes and upgrades we've made. Again, this is for environmental reasons as well.
* Most of our family activities are free or close to it. Hiking, camping, biking, going to the library, volunteering at the cat shelter, potlucks with friends.

Mrs. M, I think the term "fast food" is a misnomer. I don't consider it to be food at all! I really wish there were some way to not be exposed to junk food absolutely everywhere we go, because it is very difficult to try to help a child understand that it is not necessary or desirable to eat that stuff. The health implications alone of those foods can invalidate years of penny pinching in other ways.

[Wildflower]

We watch every penny these days. The biggest money saver for us was downsizing to one car, and then overall driving much less. Also reaping the bounty of our garden harvest and canning the excess has been very helpful for our grocery budget. And we are eating much less meat these days. Replaced all of our very old appliances a couple years ago, plus replaced the drafty old windows and doors on our house - this has been very helpful for our utility bills. We are also very conservative with water, using rain barrels to water most everything except our edibles. We enjoy the free things in life the most. Walking the dogs, going to the library or park with the grandkids, listening to good music, watching the birds, enjoying the breeze. Life is good, albeit we are lacking financially these days, we are rich otherwise....

[mira]

I am always in a "penny pinching" mindset. It must be unconscious. My boyfriend calls me stingy and doesn't empathise with my dislike of spending money :)

Both of us work part-time hours for a meagre wage, yet we get by fine and can even afford to travel. Our rent is relatively cheap for the area we live in because our apartment is not in the best aesthetic condition, so that's probably the largest "sacrifice".

[Mrs-M]

Love hearing from you Rosemary, Wildflower, and Mira, and great lists.

Rosemary. You're right, fast food really isn't food at all, it's simply a filler. Question for you. Is your water use restricted through the use of a water metre?

Wildflower. I'm always amazed over the deficiency surrounding penniless activities among families today. Such a bounty of possibilities that revolves around natural (cost-free) alternatives, yet I see few capitalizing on them.

Mira. I think every household needs a penny-pinching leader in it's midst. I think it's healthy, provides restraint (which I seldom see nowadays), and provides balance. Stay on your course.

[Spartana]

I LIKE penny-pinching! No, I LOVE penny-pinching!! To me it feels like the sweet, sweet taste of freedom. Voluntarily living on a small amount (even if you can afford more) just suits my spartan personality and I love pinching pennys when and where I can. It's a fun game to me to see what I can do without in my life and not only be satisfied and have my needs met, but be actually much happier and more fulfilled than if I was spending more. Pinching pennys has taught me to really get value and enjoyment out of the free and low cost things in life - the no cost bike ride and hike and game of beach volleyball, the .10 cent coffee I made at home instead of hitting Starbucks, the .25 cent bean salad for lunch, and the free DVD borrowed from the library, the free internet from the library (where I'm at now!), the antenna TV instead of cable, the thrift store clothes, and budget travel camping trips. All great IMHO. All much better than anything I could spend more money on.

[frugal-one]

Interesting to note that I retired earlier this year and have not been taking anything out of savings. My DH commented that we had more money in the checking account in August than the month before. I guess I am "hard core" about buying what we need on sale/thrift store/yard sales/free box. I only buy new when I have no choice or to bring a wardrobe together with one needed piece. I find it all a game and enjoy many of the free things in life. As Spartana said.. the sweet taste of freedom!!!!!

[Mrs-M]

Soothing additions Spartana and Frugal-one. It's unfortunate that the term "penny pinching" tends to connotate such miser-like tightness and cheapness. I like to look at penny pinching as simply being a way in which to reduce spending and when possible, do things on a more wise budget. I know in speaking for myself, penny pinching affords me completeness.