Credit Wise
(featured column)

Desperate Times Call for Better Planning

by Jennifer Wallis

I heard a horrific story on the news recently about thieves stealing urns from cemeteries and selling them for scrap metal. Last week, I heard another story about crooks breaking into new homes and stealing the copper wire to sell. It seems every day there’s another story about how gas thieves are trying new tactics and siphoning gas. While it is certainly appalling to think about such actions, it also made me think about one interesting aspect of all of these stories. Creativity. What if--instead of stealing--those ill-intentioned thieves put on their thinking caps to come up with solutions to their tough financial times without resorting to ripping people off?  More...

As the financial woes of Americans seem to grow every day, it really makes me think about the far-reaching consequences of these rising prices.  The housing crisis is nothing new but shows no signs of resolution anytime soon. Gas prices are sky rocketing and the effects go deeper and wider than I ever would have imagined. Not only do ordinary citizens like you and me suffer from having to pay higher prices at the pump, we also have to pay more everywhere else, too. 

Businesses are paying more for shipping costs so they raise their prices to keep from losing more money. Therefore, we end up paying more for food, clothing, utilities, and many other items necessary to survive. It’s no surprise that we are having more trouble paying our bills on-time and canceling our summer vacations.

With the financial challenges only getting tougher, it’s time for us to get creative (in a law-abiding way, of course). How are you changing your life style just to get by and to make up for the extra cash you are paying? If you'd like to share your ideas with our readers please contact us, we'd love to hear from you!  (Reader comments received may be posted at the end of this article in the coming weeks.)

I’ve noticed myself doing some things differently and thinking about things that I probably would not have tried before. How is your life changing because of rising costs?

Transportation :  

If you’re lucky enough to live in a city with good public transportation, it can save you a bundle on gas. Unfortunately, I live in a city ranked 49 of 50 for public transportation choices. It’s just too spread out for public transportation to be practical. Lucky for me, my husband works in sales and his gas is paid by his company. I have started just driving back and forth to work and we take his car everywhere else.

When I am driving by gas stations, I am always checking prices. I make mental notes of the cheapest places to get gas and go there when I need to fill up. If I notice an especially good deal, I‘ll stop and top off my tank right then.

Car pooling can be another effective way to split costs and save money. If costs keep rising, I’m thinking of approaching a coworker that lives nearby about sharing rides to the office.

Also, I am trying to multitask and accomplish several things on one trip. My family has been planning a vacation to San Antonio this summer. We are still going but we’ve found a way to save a bundle on gas costs. My husband has to go monthly to a sales meeting in Dallas (about halfway to San Antonio ). We’ve scheduled our vacation for the day after the sales meeting. My son and I will just tag along to Dallas since gas will be paid there and back by his company, along with a hotel room. That way, our family will only have to pay for gas from Dallas to San Antonio instead of for the entire trip.

Food : Eating in is becoming a lot more prevalent in my household. When costs were lower, it was easy to fall into the rut of grabbing something from a restaurant on the way home from work instead of cooking every night. Now, I find myself cooking more and more. I usually look through some cookbooks before I go buy groceries and make a list of all of the ingredients that I’ll need for a week’s worth of meals. That way, I’m not running out to the store to pick up something I’ve forgotten.

I’m expecting a baby soon and have been looking into a few of those ready to serve meal places. I found one near my house that works out to be about $3.00 per serving. Their menu sounds delicious and the food we have tried so far has been really great. I figure that by the time I bought all of the ingredients to serve my family of 3 (almost 4), it would be more than $3.00 per serving. I’m planning a session soon so that I can buy one of their money saving packages of 12 entrees and I’ll stock my freezer before the baby comes. 

Utilities : It may be time to ask yourself if you really need all of those movie channels. My husband and I are toying with the idea of getting rid of our home phone altogether. We both have cell phones so do we really need it? I’m not sure yet.

It can also be a good time to review your utility bills and make sure that you aren’t paying for any services you don’t really need. If the weather is decent, can you turn off the air and open the windows? Try to save on electricity during the day by opening your blinds instead of turning on the lights. If you have a gas stove, grilling with charcoal or propane can save some cash. Make sure you’ve blown out the pilot light on your fireplace if you have one. No sense paying the gas bill for something you won’t use until winter anyway.

Entertainment : This one is a little easier to handle during the summer. We have a lot more options since playing outside is a natural draw for kids. We used to get together with our close friends and go out to dinner on a regular basis. Now, we meet every other weekend and cook together at each other’s house. We split up the duties and food assignments. We always end up having a lot of fun and a great meal in the process.  

I’ve also started paying closer attention to the free activities that my community has to offer. Between the art festivals, parades and free concerts in the park, there are plenty of free activities to keep us busy all summer long

I’ve also taken up another past time that is time-consuming and incredibly cheap- fishing in our local pond. Yup, I’m totally addicted. All it took was catching one big catfish and now I’m the one who is hooked. For the price of a box of worms ($4 at my local bait shop), my entire family stays enthralled for hours at a time. We always throw them right back but it’s relaxing, cheap and exciting all at the same time.

Overall: I guess I’ve found that sticking closer to home is the best way for me to save money and make ends meet. It’s a little sad that it’s taken a thing like rising costs to really get me thinking a lot about how to keep my family entertained without spending a lot of money. The good news is that we’re getting a lot more quality family time than ever before. Even though I hope that prices will go back down, I know that by getting a little more creative with the way we do things, I can save a bundle of money. Who knows? Even if prices go back down, I may keep our lifestyle just the way it is because even though I didn’t like having to make the changes at first, I’m enjoying them now. Plus, I have more fish to catch and have some new bait that I am going to try.

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Copyright © 2008 by Jennifer Wallis. All rights reserved.

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