How a One-Year Cheapskates Club Membership Saved $89,000!
Well after joining the Cheapskates Club last year my life has changed so much, and for the better.
I decided to keep a little a diary with me 24-7. Every day I noted in it how much money I spent and then on Sunday night I would add everything up. To my horror I was spending more money than I actually earned!!
I wrote my first goal in my diary: to spend less money!! After the first week I did just that.
Before going to bed every night I checked all the appliances, lampshades, pilot lights etc. and turned them all off at the wall saving a few dollars every week.
I made lunch for my husband and daughter and put it in the fridge before going to bed every night saving approximately $30 a week.
Every morning before the family got up I pulled all the curtains so they had no need to turn the lights on! I made a pot of tea for my husband and I so the kettle wasn't being used three and four times in the morning, saving another few dollars.
The kids love helping me do everything so twice a week we sort the washing out and I do three loads of washing. If there is more, that has to wait till the following week.
We fold the dry washing straight away to avoid any excess ironing.
I stopped buying all the fancy detergents, washing powder etc. and now only use the "Cheapskates" brand (mainly vinegar and the cheapest washing powder I can find).
Every Monday I cook for the week. I freeze all the dinner snacks and some of the lunches. I do the $20 challenge (Bare Bones Groceries) three times a month. Yes, I said three times.
I put $25 petrol in my car every Tuesday (as that is the cheapest day) and I plan where I have to drive so not to waste my petrol and I walk whenever I can.
As I do a lot of sewing and my friend is a hairdresser she styles my family's hair and I make all their clothes (a huge saving). Another friend grows all her own vegies so I do some sewing or babysitting for her in return for free vegies and eggs.
When grocery shopping I always go alone and have my list with me. I buy the cheapest whenever I can.
After doing all these things for a year it just comes naturally now.
In the first three months I cleared my credit card and cancelled it as the interest was 19%.
In the second three months I cleared a second credit card and cancelled it also. I went to the local bank and got a 0% credit transfer so I was actually paying the loan off and no interest.
I am saving $75 a week and continue to pay the same amount every week, but I now put it off my mortgage instead of credit card debt and I have knocked four and a half years off, with a saving of a whopping $89,000 in interest.
I have also paid for a four week holiday to Europe next month and I have enrolled my five year old into a private school. All the fees etc. are in a savings account just for her schooling.
May I say if I can do this anyone can. I used to be a shopaholic. Now I am addicted to saving. I love it. My husband and kids love it too as I am a nicer person as I have no money worries anymore.
For me the trick is to:
*Track all money
*Plan ahead for everything
*Write down all my goals
I love the Cheapskates Club and will be a member till death do us part. You have helped me save so much. Thank you for being the best teacher ever.
Dawn Donaldson
I decided to keep a little a diary with me 24-7. Every day I noted in it how much money I spent and then on Sunday night I would add everything up. To my horror I was spending more money than I actually earned!!
I wrote my first goal in my diary: to spend less money!! After the first week I did just that.
Before going to bed every night I checked all the appliances, lampshades, pilot lights etc. and turned them all off at the wall saving a few dollars every week.
I made lunch for my husband and daughter and put it in the fridge before going to bed every night saving approximately $30 a week.
Every morning before the family got up I pulled all the curtains so they had no need to turn the lights on! I made a pot of tea for my husband and I so the kettle wasn't being used three and four times in the morning, saving another few dollars.
The kids love helping me do everything so twice a week we sort the washing out and I do three loads of washing. If there is more, that has to wait till the following week.
We fold the dry washing straight away to avoid any excess ironing.
I stopped buying all the fancy detergents, washing powder etc. and now only use the "Cheapskates" brand (mainly vinegar and the cheapest washing powder I can find).
Every Monday I cook for the week. I freeze all the dinner snacks and some of the lunches. I do the $20 challenge (Bare Bones Groceries) three times a month. Yes, I said three times.
I put $25 petrol in my car every Tuesday (as that is the cheapest day) and I plan where I have to drive so not to waste my petrol and I walk whenever I can.
As I do a lot of sewing and my friend is a hairdresser she styles my family's hair and I make all their clothes (a huge saving). Another friend grows all her own vegies so I do some sewing or babysitting for her in return for free vegies and eggs.
When grocery shopping I always go alone and have my list with me. I buy the cheapest whenever I can.
After doing all these things for a year it just comes naturally now.
In the first three months I cleared my credit card and cancelled it as the interest was 19%.
In the second three months I cleared a second credit card and cancelled it also. I went to the local bank and got a 0% credit transfer so I was actually paying the loan off and no interest.
I am saving $75 a week and continue to pay the same amount every week, but I now put it off my mortgage instead of credit card debt and I have knocked four and a half years off, with a saving of a whopping $89,000 in interest.
I have also paid for a four week holiday to Europe next month and I have enrolled my five year old into a private school. All the fees etc. are in a savings account just for her schooling.
May I say if I can do this anyone can. I used to be a shopaholic. Now I am addicted to saving. I love it. My husband and kids love it too as I am a nicer person as I have no money worries anymore.
For me the trick is to:
*Track all money
*Plan ahead for everything
*Write down all my goals
I love the Cheapskates Club and will be a member till death do us part. You have helped me save so much. Thank you for being the best teacher ever.
Dawn Donaldson