As a dedicated minimalist, I set a goal to save my family $1,500 for one month. I already do many of the common money saving activities like couponing, buying in bulk, taking books from the library and taking the bus. At the beginning of 2015, I lost one of my part time teaching jobs which led me to scramble for additional ways to save money. In a nutshell, here's how I succeeded to save an additional $1,500 in one month.
Activities for Children
1. I used gogetfunding.com to raise almost $1,200 for my son's chess scholarship fund in one month. This site allows you to raise money for any kind of need - personal or professional and the backers pay their desired amount directly through the site. Unlike crowdfunding sites, it takes a much smaller commission and there's a small fee that goes for paypal. You have a better chance of increasing your funding and goal amount when you upload a video. Having my son speak about his intentions for using the money appealed to more people.
Total amount saved monthly for chess lessons: $200.00
After doing considerable research, these are the top three sites* that charge the least in fees for monies raised for personal purposes.
1.www.gogetfunding.com
Signing up is free.
PayPal fees: The standard is 2.9% + $0.30 per transaction. There is also a 4% fee on funds raised.
2. www.gofundme.com
Signing up is free.
The site will deduct a 5% processing fee from each donation. An additional fee of 3% will also be deducted.
3. Youcaring.com
Signing up is free.
The site will deduct a 5% processing fee from each donation. An additional processing fee of 2.9% and $0.30 applies.
Sites like Kickstarter.com and Indiegogo.com are not recommended since they are geared to specific professional projects.
*Depends on the currency
Child Care
2. I paid $20 a month for shortstop babysitting service at our local Jewish Community Center, which gave me an additional two hours to work out at the gym from Monday to Thursday. Although I was required to stay at the facility, I could also work on my laptop and "buy" work time if need be. One does not need to be Jewish to partake in these services, and your local JCC might offer these services as well.
There are several organizations across the nation that offer a similar service. The YMCA which offers free child watch as part of their member benefit.
Total monthly amount saved $30.00
Other ways to reduce childcare expenses
Home daycares tend to be much cheaper than schools. One way to reduce the home daycare's hourly rate is by setting regular hours. When I first researched home daycares, I asked if it was possible to lower the hourly rate from $7.00 to $5.00 if I committed to sending my child from 20-40 hours weekly. One way to defray the costs of childcare, is to apply for CCIS (Child Care Information Services). Google CCIS and the name of your state to find out if these benefits are offered.
Nannies of course, are the most expensive. When my youngest was an infant, my nanny doubled as a house cleaner and I was able to get more for my dollar.
Transportation
1. Instead of taking taxis, I downloaded a mobile app service from Lyft.com, which is an independent, reliable and cheaper car service. As a first time user, I also got a $10.00 coupon. I only use taxis occasionally.
Total monthly savings: $40.00
2. Because I don't have a car, I rely exclusively on public transportation. According to the American Public Transportation Association, riding public transportation can save people $9,242 annually. A monthly bus pass is $97.50. Having a car entails multiple payments including the following:
•$400-500 for monthly car payments (depending if the car is new or leased). The price would be considerably lowered if one is buying an older model.
•The average premium for monthly car insurance as reported by Forbes.com in March 2013 was $126.83 a month while certain states such as Ohio and Maine have the lowest national averages: $77.17 and $81.92 respectively.
•Gas - depends on use. The average price of gas per gallon in the US is $2.39.
•Monthly maintenance - Experts maintain that one should allot anywhere $200-$500 a month for unexpected and routine repairs but of course, this also depends on the wear and tear of the vehicle and the age of the car.
Total approximate monthly savings: at least $500.00 (if not more)
Clothes
Our community a "Kinder Kloset," which is much cheaper than a thrift store. Each item is only .25 cents. It was in this way I was able to purchase brand name including a warm winter toddler coat, dress, a winter coat for myself, and seasonal clothes for my toddler.
Kinder Kloset exists in many places across the nation. Simply Google "Kinder Kloset" along with your state to see what's available in your area. The price may not necessarily be .25 cents for each item, but the cost will be significantly lower. Another important resource is consignmentmommies.com where you can find name brand bargains or you can sell your own items.
Approximate cost of savings: $250.00
In short, I was able to save over $1,020 which surpassed my monthly goal. A little bit of savings can go a long way.