Cancel Unneeded Services and Save
Cancel Unneeded Services and Save
Once we recovered and got our lives back on schedule after having our second child, we started to look for ways to save a little more money now that we had a new addition to the family. We started to look for services and expenses we could cut from our budget.
After the winter ended, we chose not to renew our seasonal lawn service contract which saves us around $200 a month. We started making our own meals again once I recovered from giving birth and saved $300-$400 a month not eating out nearly as much. Also, with our daughter attending Catholic school, we were informed that as an enlisted military family our taxable income would qualify us for a state scholarship for her tuition. After being awarded a full tuition voucher from the state of Ohio, we are now able to save our tax returns for other things we will need in the future.
Sitting down monthly as a couple and reviewing our budget has helped my husband and I stay focused on our goals and brought us closer together as a family.
MilSpouse Money
Mission Response:
What a beautiful family photo, Mary Claire! Thank you for sharing! Welcoming a new child is a life-changing event and can mean added expenses in your budget beyond “baby costs” like diapers, supplies and child care. Mary Claire’s tip highlights the importance of re-evaluating your family spending plan, or budget, when there is a major life event. Visit our Money Ready – Create a Budget resource to learn more. The first step in the budgeting process is to know your current situation. This step is key because an in-depth look at where your money is going is the best way to know where extra costs can be trimmed. After looking at your spending, you might realize you’re spending money on multiple subscription services or spending more than you’d like on eating out, for example. Then, use your new spending plan to set limits on each category so you can put your hard-earned money to work toward achieving your goals. Use our spending plan worksheet to get started!
Communication between you and your spouse is crucial to the success of your family spending plan. Mary Claire and her spouse find that reviewing their budget monthly helps keep them on the same page. Sometimes, people find it difficult to talk about finances. Consider using the Personal Financial Values and My Rating as a Money Manager handouts as discussion tools to get the ball rolling.
