The Whole Buffalo

September 2008 - Posts

• Bun in the Oven, No Bread in the Bank

  I will never forget the day I found out we were expecting. We had $75.00 in the bank (checking and savings combined, mind you!), had just quit one of my part-time jobs (and was only a few days away from being fired from my other) and was holding a positive pregnancy test in my hand.  Actually, I was holding 3 positve pregnancy tests - what if the first two were wrong?  My husband was thrilled, terrified, amazed... I was nauseous.  And terrified.  It would still be another 10 months or so before we really got a handle on our finances but, looking back, there were plenty of ways I could have used our nine months of preparation for our daughter as nine months of preparation for a better life.  And these hints are....  * Get your affairs in order :  IMMEDIATELY!  Wills, life insurance, living wills, appropriate health insurance, college funds if you're feeling ambitious - if your child is anything like Maggie, you'll be lucky to have five minutes to yourself again!  You are about to be entirely responsible for another human being - it's time you started being entirely responsible about yourself.  * Get ahead - and stay ahead : Even if it's $10 more on your minimum payments or $20 more towards your car payment, this is a great time to accelerate your attempts to get out of debt.  I worked until I was a full nine months pregnant and only went on maternity leave because I was terrifying my boss (and perfect strangers!) with my gigantic baby belly - our income did not suffer at all.  Financially, this is an awesome time to sock extra money away and to make tremendous progress on what you owe.    * Live in the future : If your family, like mine, is a dual income household, there is daycare looming.  I pay (approximately) $800 a month (OUCH!) to make sure my daughter is in good hands while I am at work and our current household income is less then it was when I was pregnant, due to recent job changes.  Starting TODAY, start paying for "daycare".  You will have to do it soon enough, best to get used to it.  Start pricing daycare in your area, get recommendations, interview providers - and open a savings account to sock your day care money away in.  This is a great way to adjust to your new financial situation - and to save money.  Sooner rather then later, that money will be going to someone else, take advantage while you can!  * No need to upgrade :  We were living in a one bedroom apartment when we found out we were expecting.  We are currently living in a one bedroom apartment today, with our 13 month old toddling around in it.  However, in our initial holy moly we're pregnant panic, we started sourcing two-bedroom apartments IMMEDIATELY.  Adding a new member to your family will require additional space.  It will not require an immediate move, renovation, or home sale.  Seriously.  You do not need to move to a mansion for an infant and one child does not require a minivan.  Stay put and assess your situation on the other side of your pregnancy - your wallet will thank you!  * Think less - not more : In our closet, we have bins full of adorable baseball onesies and cowboy pajamas for the son we saw on our ultrasound.  Readers of this blog will know we had a daughter.  Ultrasounds lie.   Show restraint.  We also have multiple vibrating bouncy chairs to soothe colicky infants to sleep.  Our daughter slept through the night at three weeks old and rarely burped, let alone screamed with gas pains.  Elaborate breast pumps (used three times)?  Check!  Boxes of bottles that our daughter disliked!  You betcha.  Until you meet YOUR child, take it easy.  A reliable car seat, a week's worth of onesies, and a box of newborn diapers would have gotten us through the first two weeks.  I wish I had realized that before I took all of the tags off!  * Take care of yourself! : First and foremost, please slow down and take care of yourself during this incredibly exciting time.  Whether you have a busting baby belly, a completed home study, or an extremely pregnant and cranky spouse, you are an expectant parent!   Enjoy these fleeting moments and you will be in the best shape possible to take care of your new addition!   Please share any other tips you might have - I only have one kiddo at home and know there are more experienced parents out there!     Posted Sep 16 2008, 07:15 PM by MeghanWhitmer with 3 comment(s) Filed under: future, cheap, savings, broke, scared, debt, pregnant

• The Best Things in Life are Free

  The Best Things in Life Are Free         This afternoon, my husband, daughter, best friend and I went to a baby dance party hosted by a club in our town.  Tickets were not inexpensive ($12 per person/non walkers were free) but we thought it might be a fun event for our daughter and a good chance to get to know people in our community.  It was not.  Maggie clung to my legs in horror at the blaring music and flashing lights while cliques of parents swarmed around us, their children running here there and everywhere.  Never a big dancer in my heyday, I stuck to the sidelines and we all left after an hour, $36 dollars poorer and a bad taste in all of our mouths.  You live you learn, right?  Well... no, not really.  It seems like the biggest money waster in our family is "instant entertainment": the $20 or $30 we flush down the toilet every weekend when we run out of ideas and end up hitting the mall, a restaurant... or yes, a baby disco.  So I've been brainstorming to try and figure out ways not to just "pass the time" but to have memorable weekends without having to cash in.     * Invest in yourselves: If your child is old enough, why not enjoy the waning days of summer and have a lemonade, homemade cookie, iced tea, etc. sale?  This is also a great opportunity to teach your children about business models.  Let them "invest" in themselves and purchase raw supplies, set prices, and see what you end up with!  At the very least, this is an all day activity that brings the whole family together, and you might make a couple extra bucks!     * Rediscovery day:  My daughter has so many toys that old favorites sometimes cycle their way to the back.  I love to dig out friends we haven't seen in a few months (or years, depending on the age of your child) and see what new activities we can enjoy with them.  This is a hint I remember from baby-sitting and it works wonders, even with my toddler.     *  Revive your patriotism:  (Almost?) every community in America has soldiers defending our country overseas and they need our support!  Why not have your artistic minded children create a care package with heart felt letters of thanks and colorful pictures.  With a little research, you should be able to find a local man or woman from your area who would love to feel the support of home!  This also will teach your children the importance of giving back in their community.     * Hit the Net: If you're reading this, you have access to the Internet and access to all sorts of information on free (or low cost), local activities for you and your family to enjoy.  I like to Google my towns name with, kid's activities, cheap and see what comes up.  We've hit farmer's markets with free petting zoos, learned about low cost days at children's museums, and are planning on hitting the hayride/farm stand circuit soon from this resource.     * Go 'sailing: Garage sale-ing, of course!  Give each family member a crisp $5 bill and see who can make the best find at a local garage sale.  We're being inundated with ads for all sorts of sales this weekend (actually, I'm almost sleepless over a sale I've seen advertised for next weekend.  I can't wait!!!)  If you only bring the amount of money you're going to spend, that makes it VERY easy to stick to your budget.  OR you could plan your own garage sale.  Although we live in an apartment, I am drooling over using a friend's front lawn to get rid of all of our excess clothes, toys, books, DVDs... (we haven't always been frugal... sigh).  The money will go straight into savings and I will finally be able to see the floor in some of my closets!  Actually, are there any readers in the New York Metro area who have a lawn to lend ;)!     What are your tips for keeping weekend spending under control?  I'd love to hear your hints! Posted Sep 13 2008, 06:24 PM by MeghanWhitmer with 3 comment(s)