From Anna Matsunaga http://activerain.com/momentum, and www.veritymom.com applicant

This is the blog I wrote for my application blog for a paid blogger/mom position with Verity Credit union.  Please let me know what you think and go to www.veritymom.com to vote.  This will be a position that gets lots of media and web presence and I would like to use it to help other moms and families, promote the credit union and also to enhance the image of Realtors in the community.  Please read on.

Let's face it when you have a family, you always need to pinch pennies, but with recent changes in the economy in many areas ( likely yours)  it's becoming even more important to make your money count.

This becomes especially important if it makes the difference between whether you can stay at home with yoru children or not or if you are working full time away from kids and home and want to be able to provide them with the best possible childcare.  So how do we do it?  Let's explore some ideas, of course no one blog could give you all the answers and if it could, well it would simply be too long for a busy mom to read.... so here goes.

Before you start to try to pinch pennies more than you already are, take inventory.   You have a much better idea what would be a realistic goal and it helps you be encouraged as well since it is easier to measure your progress.  Take a month or at least 2 weeks and keep track of where you spend pretty much all of the money that goes out of your household. 

To do this get a large manilla envelope for your car, one for a desk or work area at home and a section of your purse where you put reciepts.  Be sure to mark them with what they are for if it is not obvious at the time of purchase.  Also check all of your accounts and find out what your balances are and also importantly what the charges are for maintaining them and whether or not they are interest bearing.

Doing this is like weighing at the beginning of a diet and keeping a food diary.

Once you have this done, just like with the diet you will immediately see some areas that are obvious as far as needing improvement.  Start there and make a goal of 3 changes that will make a difference right away.  Keep a notebook or log of your progress and your spending including when you are tempted the most to break with your goals also track your sucesses, even if it is as small as ordering water instead of coffee when you ate out or perhaps better yet planning ahead more so you did not have to eat out just to have dinner before 10pm. ( I've been there so I'm pretty sure you have too!)

Ok, you say this is not fun. 

My answer is no pain no gain.

But because I want you to be successful here are some ideas to make it more fun.....

1. Pick a "budget diet" buddy.  Find another mom who wants to slim down her spending and strengthen her family finances.  Share your goals over tea or coffee ( at home if you want to save)  and hold eachohter accountable.  Call her if you feel the desire to splurge.  Share ideas.

2. Find substitutes.  You know how it's easier to stay with healty eating if you can substitute a healthier item for a less healthy item?  Well...this principle works here too.  Did your "money diet" journal show that you spend lots on expensive dinners?  Could you and your husband go out for just dessert instead? (ok that would maybe ruin your ACTUAKL diet, so it could be just coffee or tea too, you really just wanted to go somewhere with no kids to talk right?)....point is with out a budget healthy substitute you will likely not be able to stick with your plan.

3. Do "cheat".  Like the diet, if it is all deprivation then it will not work as if you do too much deprivation you will end up gorging ( splurging) and go off your diet entirely.  Decide ahead of time a few small spending indulgences you will allow for you and your family.

4. Reward yourself.  Set a goal.  Once you reach it have a reward waiting.  It could be something you can purchase or have saved for....however like with the diet it's best not to reward yourself with food ( in this case actually spending)  It is better to reward yourself with something like an afternoon off.  Having a friend over or something like that.  However be sure it will motivate you, if that means spending that's ok, just be sure you've earned it first.

5. Make yourself accountable.  When you tell others that you are going to ( you fill in the blank it could be lose weight, work out, or improve your familiy's bottom line) it helps because if you have the right kinds of friends they encourage you and because you want to save face.  A conversation could go like this...." Hey Sally, this is Anna,  I just wanted to touch bases with you to ask for your support......Well I have made a goal to improve our family finances and for part of that I am looking for ways to spend less, so for one I'd love any of your ideas, also would it be ok if when we go out we go to a Matinee and skip the popcorn and pop? ( hey that WILL help your actual diet!)  This helps take the pressure off later when your friend calls and wants to do something that is costly, if they still do you can remind them of your goal and they will be much less likely to be offended.

6. Involve your family.  Find out something the whole family wants, but does not have the money for.  Start a jar and add money to it every time you DON"T spend on something that was really unneccessary, ask them to do the same.  Explain the other benefits and sincerly and with out judgement listen to their ideas.  People support what they help to create and what has a real and tangible benefit to them.

7. Look for painless ways to save.  Take your bank for instance.  Look for interest bearing checking and or savings. ( ie like the Cartwheel savings @ Verity Credit Union)  Look at your credit cards, could you close one of the accounts so that you were paying one less annual fee, or better yet could you find one with out an annual fee?  Also be sure you keep track of your accounts ( it's easier than ever with online banking) so that you do not lose money with overdraft fees.

8. Use the following things to help you when thinking of spending money. 

     a. Is it a purchase that can wait?  If so wait a week or even a day.  Often at that point you will find that you don't need it.

     b. When you're weak think "this week"  What does that mean?  Ask yourself if you will use it this week or at least once a week.  If the answer is no.  Wait to buy it, again often you will find you did not need it.  If you do, you will feel more sure of the purchase because you thought it out.

      c. Always compare.  Often if you compare products and services you will find that you can get the same thing for less.

When you use these ideas you will find that you are slimming down your budget and making for a beautiful and strong financial future for your family. 

Want more actual recipes and exercizes that will help you accomplish this?  Stay tuned to "Saturday Market"  for more ideas.

 Please see my application video on Youtube http://www.youtube.com/watch?v=izh_Q-BtGSA and go to www.veritymom.com to vote.

Anna Matsunaga, Verity Mom applicant and Realtor with Team Momentum of Keller Williams Realty.  I would love to have your feed back...and your votes.  Thanks in advance for your support!

 P.S. Please also feel free to repost this blog!

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