This Saturday will officially mark one whole year since I quit my corporate job to be a stay at home mom. While one of my long-term goals in life was to get to a point where I could eventually stay at home, it was not one of my goals for 2017. Heck, it wasn’t even on my radar for 2018. But due to circumstances at work, an opportunity presented itself, and after a lot of discussion and even more praying, B and I decided that I should take a leap of faith.
And I did.
And it has been the absolute
biggest blessing.
This past year I have been
to every single one of the kids’ class parties, I’ve been on loads of field
trips with them, I spent an entire lazy summer off with them, I’ve volunteered countless
times at their school, I’m rocking the room mom gig for Jacob’s class this
school year, and B and I haven’t once had to scramble to figure out who was
going to watch the kids on one of their many days off during the school
year. Gone is the mom guilt for missing any
of the kids’ activities, and gone is the corporate employee guilt for having to
take another long lunch or leave work
early one more time.
Can I get an amen?!
However, along with my
newfound freedom has also come new responsibility – cutting back on our
spending and watching our money even more carefully than ever. Before I get into the details, here is a little
bit of background information on Brian and me…
B and I were both born with
the gift of financial responsibility and both of us were well into our careers
before we were engaged, so we both entered our marriage with zero debt (aside
from B’s home mortgage, which is now our
mortgage for the home we built together) and decent-sized savings
accounts. Because of this, we have been
very blessed to be able to live comfortably since day one of our marriage. Had circumstances been different (lots of
debt, no savings, just out of college and starting our careers), I’m sure we
would not have felt comfortable enough for me to take such a drastic leap like
this.
Before I quit, B and I
looked at our monthly income, deducted my salary, went over our budget, decided
where we could make some cuts, and we knew that we could swing it before I ever
quit. I NEVER WOULD HAVE QUIT MY JOB IF
THERE HAD BEEN ANY UNCERTAINTY!!
Now that you know a little
bit about our financial background, I’m going to share all of the ways that we
have cut back this past year and then I will answer the question about how we’re
actually doing overall.
How We’re Saving Money
(Please note that some of these figures are exact,
but most of them are estimates and they do vary from month to month):
- Moved Olivia from daycare to Pre-K4 at her new
school. Her new school is a private
school so we are still paying tuition, but we are saving money each month
since it is no longer considered daycare. – Total Monthly Savings $323
- Took Jacob out of after-school care since I can
now pick him up in the car line – Total
Monthly Savings $112 ($135.00/month x 10 months during the school year = $1,350.00/12 months per year)
- Took Jacob out of summer camp since I can now
stay home with him – Total Monthly
Savings $108 ($130.00/week x 10 weeks during the summer = $1,300.00/12
months per year)
- Cut our Netflix DVD subscription to 2 DVDs
instead of 3… yes, I do realize that DVDs are super old-school, but
Netflix streaming doesn’t always have all the movies we want to watch, so
we do still have a DVD subscription – Total
Monthly Savings $4
- Got rid of cable and home phone and switched to
Sling TV and HD antenna – Total
Monthly Savings $100
- Got rid of Sirius XM Radio – Total Monthly Savings $13
- Got rid of Tivo Mini in master bedroom – Total Monthly Savings $5
- Brian started taking his lunch most days instead
of going out to eat every day – Total
Monthly Savings $75
- Started eating Mexican more when going out to
dinner as a family because it’s SO CHEAP!
– Total Monthly Savings $20
- Stopped ordering drinks we have to pay for and
started ordering water at restaurants more often, kids included… we still
splurge on wine, beer, and margs, every now and then, though – Total Monthly Savings $20
- Started shopping at Walmart for certain items
rather than Publix… now that I have more time I have been buying a lot of
the expensive items at Walmart (Halo Top, waffles, cereal, chips, etc.) and
only shopping at Publix for certain things – Total Monthly Savings $50
- Started shopping at Fresh Market for chicken on
Tuesdays when it’s on sale… again, now that I have more time, I can go to
multiple places for groceries if it means saving money. Every Tuesday, Fresh Market puts their
boneless, skinless chicken breasts on super sale and I only purchase from
there now. – Total Monthly Savings
$35
- Started shopping at Trader Joe’s for wine… we
used to purchase all kinds of different brands at different price points,
but now any time we’re near a TJ’s we load up on their $2.99 Charles Shaw
wine so we always have it on hand.
No more spending $10-$15 per bottle. – Total Monthly Savings $35
- Started buying gift cards on Raise for every day
use. Raise is an app that you can
use to buy gift cards at a discount and sell gift cards you are not going
to use. B has started purchasing
gift cards for all of our frequented places (Starbucks, Old Navy,
Carrabba’s, Five Guys, Chipotle, Chick-Fil-A, etc.) when he can get them for
a good discount. The gift cards are
purchased for anywhere between 5-25% off, so we save money on the things
that we’re already going to purchase.
See my detailed post about it here to see how you can get started
and save $5 off of your first purchase! – Total Monthly Savings $20
- Started using coupons for things we already buy
– Total Monthly Savings $10 (I obviously need to step it up in this
department because this number could be a lot higher!)
- Started using cash back and rewards apps (Ibotta,
Fetch Rewards, Ebates – see this post here) for things we already buy – Total Monthly Savings $20
- Started buying more things (stocking up) when
they are on sale Total Monthly
Savings (not really sure how to calculate this)
- We are now buying fewer nonessential items and
waiting for sales/deals when buying nonessential items – Total Monthly Savings (not really sure
how to calculate this either)
Total Savings Each Month – $950 (+ whatever we're saving on the last two items)
How We’re Making Extra Money
- We got lucky with the timing of the raises at
Brian’s job because they switched from giving raises in the fall to giving
them in the spring this year, so he got two back-to-back raises, one in
fall 2017 (right before I quit) and one in spring 2018 (right after I
quit).
- If we’re not using gift cards from Raise, we pay
for every other expense with credit cards that earn points and give cash
back. This can be a dangerous game
for anyone who is tempted to spend beyond their means, but B and I are
always very careful to only spend what we can pay off each month and
therefore, we don’t ever incur interest.
Instead, we pay every balance in full each month and accumulate
points that can be redeemed for cash back.
We don’t use any credit
cards that don’t have some kind of cash back or rewards program. If you do, you’re leaving money on the
table!
- I have more time to focus on my blog now, so
I’ve started dedicating more time to affiliate marketing and sponsored
content. This blog post has been
viral on Pinterest for several months and it has been generating a decent
income in affiliate sales, so this has been very helpful financially. Other collaborations with brands also
bring in income and/or save us money on the things that we would have
needed to buy anyway. For example,
this month we are saving almost $250 because we’re getting our Christmas
cards for free due to a collaboration I was able to snag. Post is coming soon!
- I was also recently accepted into the Mediavine
family. In case you’re not familiar
with them, they are a full service ad management company for content
creators like me. All of the ads
you see on my blog are now managed by them and I am now making more money per
day with Mediavine than I made in an entire week with Google Adsense. Fingers crossed that my passive income
continues to grow each month!
- We had a yard sale back during the summer that
generated a nice lump sum for us to put away.
- Brian has been focusing even more on stocks/trading/investments
and they have been generating a decent income although there are no
guarantees for the future.
- We switched banks for a higher interest rate on our
savings account.
- We started selling things we don’t need on ebay
and FB (CDs, toys, various household items) which has generated a small
side income.
On Travel, Experiences, and Other
Frivolous Purchases
Vacations and experiences
(concert-going, football games, date nights) are very much a priority for our
family so we make sure to set aside money each month for those. We made it to several concerts this year
(Taylor Swift, Justin Timberlake, Dave Matthews Band, Ed Sheeran, etc.) and
continued to purchase season tickets for the Georgia football games as we always
do, so our experiences were not compromised when I quit since they have always
been factored into our budget.
With regard to our Disney World trip earlier this year, that trip was already paid for before I quit my
job, so that didn’t affect our budget for the year at all. We all know how expensive a Disney trip is,
so that would have been a tough one to budget for, and that’s why we are
already thinking about a 2020 Disney trip.
It’s never too early to start saving!
With regard to our beach
trip, we still went and did everything we would have done before I quit my job,
but we did try to save money where we could.
For example, we did downsize our condo for the beach this year to save
money. Instead of getting our usual two
bedroom condo, we just booked a one bedroom and the kids slept on the living
room floor in sleeping bags. They’d
prefer to sleep in sleeping bags anyway, so it just made sense, and it didn’t
decrease our overall experience in any way.
As a matter of fact, I think this was one of my favorite beach trips
ever! And we were still able to save a
good chunk of money!
With regard to our mountain
trip that we take every year, we are very fortunate to have family members who
own a house in the mountains and they graciously let us stay there for free. Therefore, we were able to take a trip this
fall and not have to pay for a place to stay.
How We’re Actually Doing
While making all of these changes
has saved us a decent amount of money each month, it honestly hasn’t affected
our overall quality of life very much.
We are still going out to eat, attending concerts, going on dates, traveling,
and having fun… we’re just being smarter about saving money wherever else we
can. I honestly don’t miss that third
DVD from Netflix, the Sirius XM radio, the Tivo Mini, the more expensive wine
(TJ’s is the best anyway!), or any of those other things we cut back on… well, maybe I miss having cable a tiny bit. But only this time of year because I can’t
watch Hallmark Christmas movies. Haha. I’m perfectly content with my Christmas music
or Christmas movies on Netflix anyway!
Don’t ask me to give up Netflix!
For me, one of the harder
things has been curbing my shopping. I
definitely wasn’t a shopaholic or anything like that prior to quitting my job,
but when I saw something I wanted I would buy it without thinking twice. Now that I’m not working, I’m way more
intentional with my purchasing.
If you’re a long-time
reader, then you know that 2018 has been the year for me to simplify, and even if
we hadn’t gone down to one income I had already planned to be more intentional
with my purchases. Not buying tons of
new stuff has significantly cut down on clutter and excess, and this whole
experience has changed my overall mentality for the better. There is less to tidy up each day and I feel
like we’re no longer drowning in clutter.
That has done wonders for my mental state.
And let me go ahead and say,
I haven’t stopped shopping altogether. I
will always and forever love fashion and I will always and forever buy a few
new pieces each season, but putting this simplifying mentality in place has
helped me to realize that I should only purchase things that I absolutely
love. I no longer purchase anything if I
just kind of like it or am on the fence about it. If I don’t love it to pieces, then I do not
waste money on it. Simple as that.
My biggest struggle overall has
been just knowing that I’m not contributing as much financially as I used
to. I’ve always been a very independent
woman. I have had a job since I was 16
years old and I have never relied on my parents or a man for money, so sometimes
that guilt does creep up, but that also adds fuel to my fire to continue pursuing
my blogging career. I’m making more
money as a blogger now than I ever did when I was working full-time at a
corporate job, so having this extra time has literally paid off. And let me also say that starting your own
business from nothing and actually figuring out how to make your own money from
it is so much more rewarding than making
money at any corporate job!! Or at least
that’s how I feel, anyway. :o)
Bottom line, I’m loving this
opportunity to stay at home and I thank the Lord every single day that I was
given this chance. I feel like my sanity
is more in tact because our house is cleaner than it’s ever been, B and I no
longer have to waste precious weekend hours cleaning and doing laundry, we no
longer have to scramble constantly to find someone to watch the kids when
they’re out of school or unexpectedly sick, and I’m no longer in a CONSTANT
state of rushing.
I feel like I’ve been given
the gift of time – more time with Brian, more time with my babies, more time to
get things done around the house without sacrificing time with my family, and
more time to pursue my dreams – and to me, that is the ultimate gift.
Now if I could just figure
out how to replace my entire
corporate salary with blog income I’d be a happy, happy girl!
Baby steps… :o)
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