Work in progress & Challenges

I think we do a fairly good job managing our money but we have a long way to go. As we often do, we recently reviewed our finances. Our childrens college funds and my husband and my retirement funds are considerably lower than it should be. Also, we are far below the Suze Orman (suzeorman.com) recommended eight month emergency savings threshold.

Not really sure these facts qualify me for writing a money management blog.  Well, we are always careful with our money and often go without or make sure we get the best possible deal when we do spend.  But, we have room for improvement. 

Firstly, though we don't have many out right luxuries like lots of eating out or high ticket purchases, I think we can trim some of our personal costs. I'm working on a deal with my husband that I'll cut my luxury costs by half if he cuts his as well.  More on this as it unfolds, I'll let you know what we work out.

Secondly, I will try to only make purchases that are absolutely necessary. Even if it's a good deal...even if I think the kids will like it...even if I know I will get use out of it...even if it's inexpensive, I won't buy it. Each shopping trip is not much but over time, those $10 and $20 purchases really add up.  I will largely be limited to produce buying.

My husband does most of the food shopping since he is near the better and less expensive supermarkets in the burbs as well as Costco.  He usually does an awesome job and  comparison shops and uses coupons I provide. However, when he impulse buys at the store, I feel like it's throwing money away. He thinks that because its food and he or the kids will enjoy it therefore the purchase is wise.  But folks, you and I know that's not really the case and so many items at Costco are pricey.

Challenge:  Getting my well meaning and hard working spouse to say no to the nonessential food items, go generic on the kids favorite cereal, and reduce spending.

The Jar of Savings

Here's the story...my dining room chairs are mostly all broken. This is our only eating space in the home, so having working chairs are important.  Lol.  I thought I'd just replace the chairs but I can't find any that coordinate.  The set is a Calligaris brand which is mid century modern.  It was never really my taste but I liked that it had a hidden leaf inside and you just pull it out to double the size.  The other day at Costco I saw a really nice set with a hidden leaf (it doesn't pull and click in one move like mine but it is stored under the table which is great).  It has eight chairs and the style is one I really like however, it's ONE THOUSAND DOLLARS!!  It's probably a good deal, but it's still a lot of molah. (I've scoured the internet including Craigslist and cannot find a set I like that is less money.) So, I've started a dining room table and chair fund. So far I added the $10 I earned from selling one set of the kids' old ice skates. It's a start.  Also, I want to teach my kids how to save up for things.  Sometimes you just have to wait to get what you want.  Sigh.

UPDATE: Clifton Acme is CLOSING - Sad news, but stock up on % off savings

UPDATE:  Acme us now discounting 30% off.  Many products are excluded including meat.  No coupons can be used. 

My husband just returned from his second stocking up trip.  He purchased a bunch of food such as store brand cereal, Kadem grape juice, balsamic vinegar, and much more.  The store's shelves are becoming bare.

So long Clifton Acme!!

Photo credit:  acmestyleblog.blogspot.com

So bummed.  One of our favorite stores for so many kosher goods is now CLOSING after 56 years!!  High rent, high prices, and competition from neighboring supermarkets are considered the the culprits of it's demise.  They will shut their doors for good next month.  The supermarket has a kosher deli and kosher bakery as it has a large Jewish population nearby.  We even had custom cupcakes done there for my daughter's bat mitzvah.  They were a fraction of the cost of Brooklyn's kosher Costco (which wouldn't even do custom colors) and local bakeries in NYC.  Check out article in the North Jersey News for details on the closing.

Currently many items are 10% off due to the closing.  This does not include the deli or meat departments. There are other exclusions as well.  We stocked up on albacore tuna (the good stuff) that worked out to be 79 cents a can!!  I suspect that as the time ticks closer to the closing date, deeper discounts will ensue.

Who am I?

Hello, everyone.  Let me tell you a little about myself and the reason why I thought starting this website/blog was a good idea.  I live in New York City with my three kids and husband.

Though my husband is not Jewish, we are living a Jewish lifestyle as Conservative Jews such as providing Jewish education for the kids via after school and Sunday classes, celebrating Jewish holidays including a festive shabbat dinner each Friday night, and having a kosher home.  The kids are busy going to religious school, scouts, and doing sports as well as homework, friends, and various other activities.  My middle child is enjoying homeschooling this year (being led by my husband) while my other two are continuing with public school.

I'm really focused on eating healthy and doing so on a budget.  In fact, saving money is my hobby and obsession--always been this way.  Lately, I've been making my own flat bread and hamburger buns as well as continuing to make challah (bread eaten at sabbath meals).  It's fun to bake and find new foods to make that we've otherwise had to purchase. Sometimes the kids help.

I get most of my produce in Lower Manhattan's Chinatown and a particular produce cart near City Hall. For the past month or two I've been able to participate in GrowNYC Winterbox, an initiative to get city dwellers to eat better quality produce. So, every Thursday I pick up a heavy bag of produce and fruit, mostly organic and mostly locally grown food.  I don't get a choice of what they give, you get what you get. But, it's great fun to try to use all the veggies many of which I have never cooked with or seldom use. It's largely been a success, though I do have a bunch of pumpkin-like squashes that I have yet to cook up. I pre-pay for the following week. It's a great deal for just $10; I suspect it's highly subsidized. The program has been so popular they've had to stop taking new members.

I have been keeping a small garden in the summer. This past year I grew lots of basil, tomatoes, and squash plus collard greens, green peppers, celery, and a few others. I'm new to gardening and trying to learn more about it.

The bulk of my food comes from Costco (especially milk, eggs, and cheese) as well as New Jersey supermarkets near my husband's office where he gets the remainder of the necessities.  He does the overwhelming bulk of the shopping (excluding produce). Not to say that we don't have to occasionally run to the market down the block for something we ran out of, but I REALLY don't like doing that. We have not been entirely successful with couponing, although I occasionally give it another try. It's had mixed results.

This blog will be largely focused on saving money. I will share what I've learned along the way (both my successes and and my failures) as well what others have shared. So please send me your advice and picks for having a fun and fabulous frugal lifestyle wherever you live. It's my belief that you can live on less and feel great doing it. So many people think its hard or they "deserve" to buy _______. Just tweak your mindset and you can!!

Money is a funny thing. For some it's a power thing, some need to spend it to feel okay with the world, some truly don't have much at all and it's a struggle to get by, some can get by but don't have much in savings or college funds. It's an interesting and complex issue and something I would like to explore. Buckle your seat belt, folks. The ride has just begun.