Keeper of the Home is hosting a challenge this month, of extreme savings. I'm new to that blog, but it looks like a great challenge!

Here's how to join in.

We started the Dave Ramsey program last year, and it was going well. We were into baby step #2, after getting current on our bills, and saving $1000 for an emergency fund.

Then life happened (husband broke his rib coughing from pneumonia, was out of work for six weeks; we had a baby, Baby X had many tests and was hospitalized for high blood pressure; we found out we had to move but could not find a new place to live, and our car was totaled when husband dear hit a tree.) (And if that doesn't convince you that God always provides, I don't know what will. We don't have any credit cards, but managed to make it without starving, being repossessed, or becoming homeless. This also happened during that time.)

BTW: Here's how we saved $140 on our car insurance - we canceled it for this car. The car actually still drove, but it was worth less than $500, (1991 Honda, no A/C, 275,000 miles) and both side windows were broken out. I used to work at an autoglass place and I know it would cost more than that to replace the glass, let alone the door panel.


We also had to buy husband dear new glasses because his flew off when he hit the ditch (prior to hitting the tree) and they were nowhere to be found. We replaced it with a $400 car we named The Hamster because it is white and brown and has a round back end.

Fortunately, we were current on our bills and had $1000 saved up! Also we had our tax refund so that helped a great deal. We have not, however, saved anything since our move. It's been one game of catch-up after another.

My goal is to save up $1000 quick, then segue into the rest of the Ramsey program. We don't have any credit cards, but do have a lot of medical debt, a small student loan, and owe $5300 on our minivan.

$1000??? The month before Christmas? When we haven't been able to save anything for the last four months? That's just crazy talk!

Currently, we spend as a percentage of our take home income:
24.5% Rent
20% Groceries and household
12.5% Car Payment
6% Car insurance
9% Gasoline
21.5% Utilities

The remaining 6.5% is spent on a multitude of miscellany, which is an alliterative way of saying huh? Some goes to church, some to buying things for the kids' school and my Sunday School class. More than enough went to McD's during Monopoly madness. New shoes for a couple of kids. Some clothes. You get the idea. To be fair, we bought a new dresser and side table at a garage sale ($40). I spent $30 on fabric and patterns last month for Christmas presents and Saints costumes. I still want to get most of Christmas done for the kids this month as well, which will be a challenge now that we aren't going to be buying toys made in China.

We'll see how far I get! Somethings better than nothing, right?

Sidenote: Husband dear is not quite on the same page as I am on this. So we ate Chinese food last night and I'm $17 behind in my month of savings! Ack!

BTW - we spend 20% of our income on groceries and household, including all W*Mart purchases, such as diapers, toilet paper, laundry soap, etc. What do you spend? Is that way out of line? We have 9 people, but one doesn't eat directly. Four children are in diapers or pullups overnight. 2 are in diapers full time.

Labels: Frugal, Month of Savings