Living On Limited Income

My family of four has been living with a limited income for over three years (ever since I had kids) and I would like to think I’ve become a bit of a pro at it. On our single income we have managed to pay off all my medical bill debt, buy a new house, a new car, and take the family on a nice vacation each year. It was hard work, but these days it seems so simple. Prior to becoming a one income family my boyfriend and I were both working full time and had no debt whatsoever.  Daytrips to Seattle and Portland were normal, and buying new clothes for myself with each paycheck was a must.

The hardest thing for us was building a savings account for emergencies.  We are still adding to that fund, but we have a full mortgage payment, and car payment saved up. Most importantly we need some extra money for medical bills. We are not married, so I am not covered on his insurance. Thankfully I’ve only had to go to the doctor once, but for strep throat it was $120, plus another $40 for the prescription!

 I started out couponing when my son was first born. I was completely overwhelmed with all the coupons, and had no clue what I was doing. It took me a year before I mastered it. I’m no “extreme” couponer, but most things I buy are on coupons. I found it easiest to find a few blogs that follow coupon deals and every few days check in on them to see if there are new deals posted. I’ve managed to cut our grocery bill in half this way. We started shopping at the bread outlets, and buy a few loaves at a time and stick them in the freezer. I buy meat when it’s reduced for quick sale and package it up for the freezer when we get home.

One thing that took me a long time to understand was just because it’s a really good deal, doesn’t mean you should buy it. Do my kids need every single little people play set just because I can get them for $5 at a consignment store? No.  I am just now getting rid of all the unnecessary toys in my house. It’s hard! I have made lists of what the kids will need, and how many presents they will get for Christmas, and I stick to it. I shop the Target toy clearance, usually in August, and in late January/early Feb.  I buy clothes a season ahead of time when stores are starting to clear out merchandise for the next season.

Since we have become a one income family my priorities have really changed a lot. No more fancy coffees for me.  If I don’t need new clothes I don’t buy them.  We cut down our cable bill by getting rid of the extra add on package we don’t need.  We switched to a pay as you go cell phone, since we don’t really use it on a regular basis. This has allowed me to use the extra cash on more important things such as: Preschool for my son, Tee Ball, and our family vacations.

Living on a limited income has been a challenge, but I’ve managed to control my spending, and budget the important things in with a little work.  Anyone can do it, it’s hard to get started but I think it’s important.
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About the Blogger:

I’m Renea P. I’m a stay at home mommy to a one year old girl and three year old boy. I love spending time with my family, couponing, crafting, and doing fun activities with my kids.