Welcome to Centsable Savings Stories and Struggles!
I am always looking for frugal shoppers to share their stories. If you’ve ever thought about sharing your story, please email me at centsable.katherine[at]gmail.com. More details are at the end of this post.
This week we are featuring Melissa fromSaving Cents with Cents. Melissa’s story reminds me that we all can continue to learn to manage our money better, even if we were born a “saver” and not a “spender.” Thank you for sharing your story, Melissa!
My History
I have never been a big spender. My mom loves to tell the story of how she gave me a credit card when I was in high school to be able to get a few things, but I never used it. Actually, after graduating college, I just handed it back to her. (Don’t believe me? I’m sure my mom would love to tell you about it!) I have always been a saver, not a spender. Yet, I didn’t use coupons (well, besides the random restaurant coupon to a local favorite) until seven months ago, and I definitely wish that I had learned the saving power of coupons a long time ago!
My Challenge
Sometimes we don’t realize how much we need to cut back until we are forced to, even for “savers” like me. After living on a two income budget, my husband and I definitely had to make adjustments when I was laid off from my company of six years. Not only was our budget cut in half, but our little family was growing. Our son was two years old and I had just found out that I was pregnant. Panic? Yes, the thought crossed my mind, but honestly I feel that it was one of the most incredible blessings since I had struggled with wanting to be a stay at home mom, but did not know how we could afford it.
Being laid off forced us, and me, to figure out how to make it work. We immediately cut costs- lowered our cell phone minutes, turned off our home phone and cable, canceled all memberships (fitness clubs, movie rentals, Costco, etc), stopped eating out, and actually made a budget. I know, it seems that we would have already had one, but since neither my husband nor I are big spenders, we didn’t think we needed one. Not True.
Big Lesson: No matter what your income looks like, it is important to have a budget so you can see what is coming in and going out each month. I was amazed how much money we “wasted” on little things, but with a budget we became accountable to every penny we spent. We also made a plan to pay off our cars, which was a big budget spender.
What I’ve Learned
So, how did I start using coupons? In my research (Yes, research! I have four degrees and like to research EVERYTHING –it is a joke in our family) to lower costs, I learned about one of my now favorite stores: CVS. I came across a few amazing websites (like BeCentsAble) that discussed ways to save at CVS, which I couldn’t believe since I always thought the store was a bit pricey. Wow, was I wrong! I learned about Extra Care Bucks (ECBs) and how to roll them each month so my out of pocket expense is just pocket change. (My average savings at CVS is about 90%). Actually, I’m still rolling ECB from last November and hope to roll them the entire year.
I also learned how to save at the grocery store through couponing. Before coupons, we were spending about $100 each time we went to the grocery store, but now I save us between 60%-70%, and our budget is $200 a month for our family of four (that $200 includes all food, drug store, and Target, etc trips). One of the most amazing parts is that our cupboards, pantry, refrigerator and freezers are more packed now with good quality, name-brand products than we ever had before. No more cheap razors, generic toothpaste, or store brand cereal. No, we have the real thing, and many of these things were bought for mere pennies or even FREE.
Each week we feature a different shopper’s story. Centsable Savings Stories are the stories of people just like you who are working toward reducing their budgets, bargain hunting, living a more frugal lifestyle and constantly learning along the way. If you are interested in sharing your family’s successes and struggles, please contact Katherine at centsable.katherine[at]gmail [dot]com. Blogger and non-bloggers are both welcome to participate. Click here to read the stories of shoppers featured in the past.
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