Frugal

Recession-Proofing: It’s Not About How Much You Make

February 26, 2009 /

Editor’s note: With many American families feeling the pinch of the current recession, more and more people are turning to the internet to find ways to survive on one income.  Some are even learning how to get by on no income due to a recent or impending layoff of their family’s breadwinner.  What would you do if you or your husband lost your jobs?

In this series, we’ve been talking to moms and dads about the measures they are taking for recession-proofing their families.  What can you do now to ensure that a financial hardship would have the smallest possible impact on your family’s well-being?  This week, Amy is giving us her take on how she recession-proofed her family.

The following is a guest post written by Amy, from The Finer Things in Life.  Amy is a Tiny Town coach’s wife and mom of three littles who is convinced that living a life rich in The Finer Things will bring much more fulfillment than anything money can buy.   

It’s not about how much you make.  It’s about making that amount, however large or small, work for you.  My husband is a teacher and coach in a small town.  Without getting too specific, his salary qualifies our kindergarten daughter for reduced lunch prices at school.  It’s not a lot of money, but it’s working for us.  We chose to live on this income.  We chose for me to be a stay at home mom.  We are thriving.  In the event that your income is reduced for whatever reason, maybe some of what works for us might just work for you, too.

1.  Ditch the Joneses.  They are not your friends.  They will tempt you to spend money that you don’t have on things that you don’t need.  Surround yourself with like-minded frugal friends.  Make it a game… who can find an item for the least expensive price?  Network and help each other save money.

2.  Learn the power of contentment and gratitude.  Truly, we have so much.  Our vehicles are old, but they are paid for and run well.  We don’t budget for big vacations, but there are many activities we can enjoy as a family for free.  Don’t waste your time worrying about the latest and greatest that you don’t have; rather, focus on your many blessings.

3.  Swallow your pride. If you shy away from second-hand stores, clearance racks, or garage sales, get over yourself!  My daughters are constantly complimented on their fashions, and I’m always willing to report that we receive fantastic hand-me-downs. Without a doubt, I have spent less than $300 TOTAL on children’s clothing in the last 6 years.

4.  Just because you have it doesn’t mean you have to spend it.  In the days when we both had jobs and no children, we did our best to live on one income while saving the other.  That made my transition home so much smoother.  Even now we usually have extra at the end of the month.  Sure, we could use a new (fill in the blank) but we could also save that money.  We choose to save.  We refuse to be caught with a new TV but no money to pay for an unexpected emergency.

5.  Take up a “lost art”.  Don’t know how to cook?  Learn!  Can’t sew a button?  Figure it out!  So many things that we pay for can be done at home, saving countless amounts of money.

Last year we planted our first garden.  While much intimidated by my proven black thumb, we were pleasantly surprised at how easy it was to produce crops of potatoes, peppers, tomatoes, and even pumpkins.  I smile every time I pull tomatoes and peppers from the freezer to add to soups or casseroles this winter. Not paying store prices for mediocre veggies is definitely a Finer Thing!  We plan to expand our garden this summer.

6.  Use your talents for profit.  Even if you have no desire to start a home business, you can make money from home.  While I would never want to commit to running a daycare, we do have a couple of sweet preschoolers who stay with us a few days a week.  They are very little extra work for me, and my son gets a kick out of having playmates at the house.  The extra cash I make from babysitting really adds up!

Another idea… if you’re cooking for your own family anyway, why not make a few extra meals for someone to pick up on their way home from work?  It’s amazing what people will pay for convenience!

Living happily on one (smallish) income is possible.  Focus on the Finer Things and thrive!

How have you recession-proofed your family?  Are you thriving on one income?  What recession-proofing tips do you have for other moms? Let us know in the comments.  Read about how Phoebe recession-proofed her family, and get a great checklist for determining needs vs. wants for grocery shopping.

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30 Comments

  • Sherry

    February 26, 2009 at 5:33 am

    Great article! We are going to attempt a garden this year. The kids are super excited. 😀 I’ve been making more and more things from scratch besides being thrifty it is healthier for our bodies, too.
    I was hoping to make a little extra money with selling meals here, but unfortunately in our state we have to have a seperate kitchen to do it. Ugh! 🙁

  • Frugal Girls!

    February 26, 2009 at 12:16 pm

    Thanks so much for the wonderful tips! My latest frugal trick has been making homemade laundry stain remover and homemade bubble bath. I also recommend growing food in your yard if you can. Last night I picked 125 ruby red grapefruit off my tree! 🙂

  • Peter

    February 26, 2009 at 11:47 am

    Love #6. Anytime you are good at something, there is a way to make money off of it. I think the concept is to think small. For instance, don’t try to pay all your bills with one move, maybe do a few things that adds up to the sum at the end.
    Great stuff!

  • Shellie

    February 26, 2009 at 11:49 am

    Well, you are one step ahead of me! Well two to be exact. I’m doing a 3 part series on my blog about our current economy. Part 3 is how to recession proof your life. I think I’ll link to this post for more ideas for people. But Part 1 (which posted today) is What Happened to the Economy in Plain English. If you or your readers are interested:

  • Jen@Balancing Beauty and Bedlam

    February 26, 2009 at 7:30 pm

    I didn’t see the “what if your husband lost his job” but it’s ironic that I came to this article today at 11:26pm since tomorrow is my hubby’s last day. The amazing thing is that we’re ready. We had a heads up that it was coming since his company was bought out and moved out of state, and since the day we found out, I have been “acting” as if he was already unemployed. We already had a emergency plan in place, but now I am actually “throwing a party” with the kids instead of living in a panic stricken state.
    Living within and under your means at all times is a blessing!! Living debt free allows us to go through a recession and unemployment with out total chaos taking over. I go into so many of the ways we do it on my blog so I don’t want to take over in the comments, but it is such an encouragement to find other like minded frugal women in blog world. (but….remind me of this in eight months if my hubby still doesn’t have a job. 🙂

  • Trixie

    February 27, 2009 at 11:26 am

    Hello,
    Great post! It truly is more about how we choose to live on the salary we have rather than always needing to make more money. My husband and I are pretty frugal. We do this partly because its so much fun finding creative ways to do things for less and partly because it allows us to live very comfortably on a small amount of money.
    We save the difference between what we earn and what we spend so we will have a safety net in the case of an emergency or a job loss. I liked what you said about not being caught with a new TV but no money for an emergency. My husband and I feel this way too. It boggles my mind the number of people that have so many nice, newer possessions (including vehichles and homes) and cannot pay their heat bill or buy food.
    Take Care,
    Trixie
    http://farmhomelife.blogspot.com/

  • Abbi

    February 27, 2009 at 1:46 pm

    Great post! We also enjoy doing the things she mentioned above. We are a family of 6 who are thriving on one income. Though I have found various ways to add a little to the income by doing various jobs which I find to be fun (teaching music lessons and doing wedding flowers) at home.
    I think her 2nd point on being thankful is such an important one! When we are truly grateful and appreciate what we have we are much less likely to be seeing things that we want.

  • shel

    February 27, 2009 at 2:36 pm

    Good article! I am especially inspired that you were able to grow some good veggies with your black thumb;-) This is one of the things that has prevented me from trying to grow my own, because I even killed a cactus plant before! I would like to try growing some things on my patio (in pots). Thanks for the inspiration.

  • Stephanie

    February 28, 2009 at 7:08 am

    Excellent article Amy! Having a good attitiude and being content goes a long, long way too! I have been guilty of being discontent, and living on one income has me worried a lot. I have to learn to let it go and just trust God. We have been a one income family for a little over a year and I am still struggling with it!
    Thank you so much for the reminder and inspiration that this CAN be done!

  • BarbaraLee

    March 1, 2009 at 6:13 am

    That is like living in our grandparents era. The problem is too many people are spoiled and lazy.
    It shows big time. This is one family who lives like grandma & grandpa.

  • Amy @ Finer Things

    March 1, 2009 at 10:03 am

    Sherry — Oh, I wish there was a way for you to make some cash off of meals… you’re SUCH a good cook! Can it be done “unofficially” by word of mouth for friends and neighbors?

  • Amy @ Finer Things

    March 1, 2009 at 10:07 am

    @Jen — You are so right! What a blessing that you are able to celebrate and keep a positive attitude in an otherwise very stressful time. Good for you to have a plan in place. 😉

  • Amy @ Finer Things

    March 1, 2009 at 10:20 am

    @Stephanie — I find that discontent festers if I look at too many magazines or surround myself with people who “have more” than I have. Stop it! 😉 Cling to your frugal friends… even if those friends are your bloggy friends!

  • David

    March 10, 2009 at 10:26 am

    Fast food restaurants are a great source for free napkins, salt, pepper, sweetener, ketchup, sugar, coffee creamer, etc. I buy the cheapest item on the menu, then fill my to-go sack with everything I need. It’s not stealing as long as you buy something.

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