Ma Field's Rules for Living Poor

This series is for my son who is living on his own for the first time.

You don't have much right now, but if you follow these guidelines you will always have enough - and before you know it you'll have more than enough.

1. NEVER SPEND ALL YOUR MONEY!!! This is the heart of living well (and within your limits). Every paycheck, take a chunk right off the top to put in savings. 15% is good, more is better, 10% is the minimum. This will be the start of your emergency fund.
Start saving with your very first check. Then it will be an easy habit to keep.

2. See rule #1 - yes, it's that important.

4. PAY YOURSELF FIRST. Prioritize your bills to reflect your needs both present and future.
That means put the money into savings right away. THEN pay your rent. THEN pay your electric bill.

3. NO CREDIT CARDS! If you can't afford to pay for it now, you can't afford it, period. NO PAYDAY LOANS OR CASH ADVANCES EVER!!!! This is legalized loan sharking and it should be outlawed in my opinion.
Remember that the emergency fund is only for necessities. Save up to buy more expensive items. (This is extra money you save for a specific purpose, NOT your emergency fund. Put it in a separate account if you can't keep it separate in your mind)

6. STAY OUT OF THE STORE! Don't shop as a sport or hobby. Only go when you need something. Know what you need. Get it and get out. We'll talk more about shopping in a later blog.

7. PRACTICE THE RULE OF THREE: Wait at least 3 days before making a purchase, have at least 3 reasons for needing it and at least 3 reasons that nothing else will do.

8. WHEN IN DOUBT, DO WITHOUT. If you aren't sure you should, you probably shouldn't. (This is good advice throughout life, by the way)

9. DON'T BUY NEW. At this stage in life, there are very few things that need to be purchased new. Come to think of it, at ANY stage of life there are few things that need to be purchased new.

10. LIVE FINANCIALLY AT 50%. LIVE THE REST ON THE EDGE. Youth is a time to take risks and think outside the box - just not where your money is concerned.

How do YOU trim costs?

I have a few rather odd ways to save money. They don't work for everyone so they hardly qualify as tips. But it got me thinkin' about the "odd" stuff we as frugal fanatics do to shave a few cents here and there. It's those oddball little things that give ammunition to spendthrifts who claim we're all crazy cheapskates. So I figured, What the heck, let's give 'em some good ammo....

I'll share a few of mine and I hope you'll be motivated to give us your "craziest" tightwad tip...

• I don't cut my hair. No, really, I haven't been to a salon in five years. My coworker cut about 4" off my hair yesterday and, other than trimming my own bangs, that's the first haircut I've had since Fall 2002. (in case you're wondering, it's down past my waist).
• I use my office's kitchen to make jelly and can food in the summer. My boss lets me have free use of the full kitchen and the blessed air conditioning. It's the only time I get to use a dishwasher!
• Speaking of canning, I pick wild berries and have my own apple tree. I glean blueberries from my in-laws after they are finished with their bushes. One year my husband Thom was working at another location that had a peach tree. Free peaches! yipee!!
• I also refuse to use pectin because the recipes call for more sugar. The yield is higher, but my fruit is free so yield is less important than the cost of other ingredients and materials.
• Yes, I reuse aluminum foil. And plastic butter dishes. And zipper baggies, depending on what was in them. (I never reuse a baggie that has had meat or poultry in it. I'd rather spend the dime than get sick!)
• I wash the heavy plastic forks, knives and spoons you buy for cookouts. One set usually lasts me all summer.
• I'll take a pork chop or one piece of chicken leftover from a meal and make soup. Then I'll add rice or pasta and make a casserole. My personal record is 7 meals from one small chicken. By the end, we were calling it "essence of chicken" soup!

So there you have it. A few things that seem perfectly sensible to me that have made some of my more luxury-minded friends wrinkle their noses in disapproval. I know you've all got some good ones out there, so let's hear 'em.

... and if you can figure out a good use for already-used kitty litter, I'm listening...

Post your comments here, or visit me at my Yahoo Group

Still at the Washboard

Just a few brief notes on the laundry detergent:

After sitting for a week in the bucket, it separated and was chunky. I was worried that it wouldn't work, or that it would leave oily spots on my clothes. After a little more experimentation here's what I discovered:

* stirring it helps some but it won't stay mixed.

*Pouring the detergent into the tub as it fills with water BEFORE putting in the clothes keeps the spots from attaching themselves to your clothes.

*Warm water melts the clumps very quickly. But cold water washing didn't leave any chunks or oily spots either.

I'm hoping to share more "fun" stuff later this weekend. My life kinda got away from me the last two weeks. Keep saving 'til then!