Cutting Back on Spending in a Tough Economy

Each week in Moms Talk, our Moms Council — Susan Masone, Siri Heinrichs, Cristina Fowler, Christine O'Brien and our intrepid columnist Lauren Kim — takes your questions, gives advice and shares their solutions to the problems vexing all of us.

Have a question you would like to share, or just want to provide your opinion on the question of the week? Head over to the comments section to do just that.

So grab a cup of coffee and settle in as we start the conversation today with the following question:

In a tight economy, how does your family cut back on spending?

Cristina Fowler: Cutting back in our household is leading to a healthier, greener lifestyle. During the summer months we save money on our grocery bills by growing our own veggies. With the children, we plant in the spring and reap the rewards in the summer months. I also no longer purchase juice boxes. Aside from the high cost and high waste, the amount of sugar really “ignites” my children. So we have cute thermoses that we can use over and over again and fill with any beverage of our choice.

In addition, a recent commitment to exercise more has led to fewer dinners out, which means saving money on expensive meals and sitters. My husband and I also sometimes carpool to work, make our lunches instead of buying them and follow the sale signs at the local stores. While this may not seem much, every penny saved helps us in the long run.

Susan Masone: In a tight economy there have been plenty of ways that we have cut back. There are plenty of summertime activities to be done on a budget.

Examples of what we have planned for this summer are as follows:
 
-  East Windsor is hosting a few free concerts in the park this summer. 
 
-  There is a website with information about how the kids can bowl for free at the bowling alley on Rt 130. KIDSBOWLFREE.COM.
 
-  The movie theater on Route 130 has free movies one morning a week for children.
 
-  Mercer County Library host many free classes such a origami, Irish step dancing, magic acts, etc.

When the sun goes down, we go to the local parks to play tennis. And really, what kid does not just want to ride their bike, hold a lemonade stand, catch lightning bugs, camp in tents in the backyard and eat ice pops all summer? As long as the memory stretches beyond the budget, then it was a good summer.
 
Siri Heinrichs: I try to be as frugal as possible, tight economy or not. We have a budget that we follow (admittedly, loosely). I keep track of every purchase with Quicken software, which is really helpful when we say “Where did all our money go?” I can run a report and see how much we have spent in certain categories and learn where we need to cut back. I have really started to cut back with grocery spending. I print and cut a lot of coupons and try to match those up with things on sale so that I can spend as little as possible.

The purchase of a second-hand freezer this past year has helped tremendously to this end. We are very fortunate that my husband has a steady job and I can afford to stay home full time. I still take stock every six months or so to ensure that our savings has enough to cover us for at least three to four months, should he lose his job. We try to make smart decisions about purchases and not buy things just because we want them, but because we need them.

Lauren Kim: Admittedly, I am not the best at keeping costs down, but there are some strategies I use to keep my family’s spending down to a minimum. Many local restaurants have kids eat free nights (such as T.G.I. Friday’s and Moe’s) and I try to take advantage of those.

I also look for free or discounted family fun in the area. We enjoy going to the various classes and events held at the local libraries, go to discounted Tuesday movies at the local theater in East Windsor, and when I am home on summer days with the kids, I look for free fun things to do together, like visiting many of our wonderful local parks.

I try to use as many coupons as I can, whether they are store coupons, coupons for local restaurants, or ones from the KidStuff and Entertainment Books that I purchased from my daughters’ school.

And with the kids clothes, I tend to buy shirts a little bigger than they need to be, and purchase the shorts and pants that come with the adjustable waists. Doing so does help — my daughters’ birthday is just before the close of the school year, and with the few outfits they received as gifts, I really didn’t have to buy them new summer clothes this season.

I’ve also started drinking more water at home and when I eat out — doing so is a great calorie- and cost-cutting measure. (It’s sometimes surprising how much restaurants charge for a simple glass of soda.) When I go out with the kids, we try to bring our own drinks or bring our own refillable water bottles.

Christine O’Brien: When shopping for groceries, I always try to buy store brand, what’s on sale or use a coupon. I usually split weekly shopping between three stores since shopping in East Windsor/Hightstown is so convenient. Price differences for some items can be as much $2 for one regularly priced item from store to store, so it really helps to know your prices. Before we make a big purchase, we always ask ourselves if it’s something we really need. Then, we try to take advantage of sales, discounts, coupons and the option of purchasing online to try to get a better rate.