What are some tips on how to cut back on expenses to be able to afford childcare?

Answer

I recommend you buy or borrow from the library "Smart Couples Finish Rich" by David Bach. I save all of my articles on money, here is one that I have cut and pasted below:

10 ways you mindlessly waste money

1. Stuff you can't live without Life in the 21st century is so hectic we've convinced ourselves that we absolutely must have all kinds of gadgets and services to "make life easier" -- for which we pay a mind-boggling number of access fees, download fees, activation fees, subscription fees and usage fees. Does call forwarding "make life easier?" Does your Internet-enabled, interplanetary, supersonic cell phone-pager-communicator? Or do they just "cost more money?" And who uses call forwarding anyway? I'd like a congressional inquiry into call forwarding. Meanwhile, add up all those things you've signed up for -- the ones that cost "just $9.95 a month!" -- and figure out which ones you really can live without.

2. The silent 'upgrade' I recently reserved a rental car over the phone and got the astonishing rate of $138 for a week. But when I got to the airport, the rental-car guy blithely handed me a bill for $184. I didn't want to make a fuss (especially since my driver's license had expired, and I didn't think they'd understand about that). So I threw a small, discreet fit and got 30 bucks taken off the bill. Lesson: Take the bait, but not the switch.

. . . and speaking of switching . . .

When did you move your $4,500 balance to that new low-interest credit card? And when does that low-interest rate zoom back up to 19%? Repeat after me: "I have balance-transfer amnesia." Read the fine print. Tattoo important dates on your arm.

3. Memberships you never use Harvard recently released a study that conclusively proved that signing up for a gym membership is an effective way to prevent exercise. Not only are you spared from ever again touching a treadmill, you're paying just $29 a month for the privilege. The same thing happened to me when I signed up to pay $3.50 a month for access to the Consumer Reports Web site. Why? Do I need minute-by-minute updates on Whirlpool appliances?

4. Double-dipping When my uncle decided to quit donating money to a certain charity, he sent them a letter saying so. A few weeks later, he got a letter back -- soliciting more money. The magazine industry has raised double-dipping to an art form. Have you ever noticed that two minutes after you subscribe to any publication they start begging you to renew? Most of the time, the renewal notices start before you've gotten your first issue!

5. The package 'deal' My friend Caroline took the package deal the phone company offered her because, for $49.95 a month, she got every possible telephone service known to mankind. What a deal. Until she realized that with taxes and FCC line charges she was paying almost $70 a month -- just for basic service. Plus, as she admitted, she didn't really need satellite three-way calling to Mongolia. She broke up the package and now pays only $33 a month.

6. Shopping delusions Oh, the price you pay when . . . • You buy an outfit that makes you look like Shania Twain, except, sadly, it doesn't -- and, even sadder, you never wear it. • You're possessed by the notion that you were born to ski (or golf, or fence or yacht) -- and you invest in all the necessary accoutrements forgetting that you cannot afford a financial outlay equivalent to the GDP of France. • You buy that incredible designer suit because it's 75% off! Yet nothing in your life requires a suit! How dumb is that!

7. Supersize spending The Big Gulp mentality has taken over. Why join one fitness center when you can pay an extra $50 a year and have unlimited access to ALL the fitness centers in the known universe? And what’s with the unlimited yoga class card? You buy it in a frenzy of determination to Do Yoga Every Day, but you don’t, and those sneaky yoga people know it and chant “Om Shanthi” all the way to the bank.

8. Refusing free money Whatever your employer gives you, by way of matching retirement funds, a flexible spending account or free annual checkups -- take it! It's a waste of money not to. "Your brother has full medical and dental coverage," my mother said to me, "but does he go to see the doctor or the dentist? Nooooooooo."

9. Bulk spending, slim savings I'm not saying you'll never eat that half a steer or the whole 10-gallon vat of soy sauce. But buying in bulk only saves you money if you consume in bulk. Sooner or later you'll end up getting so sick of that five-gallon jar of artichoke hearts that you throw half of them away. And then never buy them again. Which is sort of a way of saving.

10. Sins of omission The sweater you ordered from L.L. Bean that’s all wrong. The nifty shelf organizer you found online that doesn’t fit in the closet. Did you ever, um, like, y’know, return them? Quick question: Why is it easier to toss $40 than to put a return label on the box AND DRIVE TO THE POST OFFICE?

DOES ANY OF THIS ADD UP TO A HILL OF BEANS?

Answer

Here's another article:

50 ways to trim your budget

Housing and utilities If you're struggling with an unaffordable mortgage or rent payment, moving to a cheaper place or getting a roommate may be options. Otherwise, some ways to lower your housing costs include: • Refinance your mortgage to get a lower rate or to switch from a 15-year mortgage to a 30-year loan. • Raise your deductibles on your homeowner's or renter's insurance. • Challenge your property-tax assessment (see "How to fight your ballooning property tax bill"). • Eliminate premium channels from your cable or satellite TV service. • Drop the pay TV services altogether. • Reduce phone extras such as call forwarding or call waiting. • Cancel your land line in favor of cell service (or vice versa). • Seek a cheaper long-distance carrier (try SaveonPhone.com or LowerMyBills.com ) or switch to Internet calling if you have high-speed service (see "Time to ditch your land line for VoIP?"). • Investigate whether bundled service (phone, high-speed Internet and television) might save you money. • Wash only full loads of dishes or clothes. • Use a clothesline and use your dryer just to soften air-dried clothes. • Use shades, blinds and drapes to regulate your home temperature: Keep them open in the winter to let in light and drawn in the summer to block the sun's rays. • Install a programmable thermostat so your home is heated or cooled only when you're actually there. • Don a sweater in winter and shorts in the summer so you're not overheating or cooling your house. • Douse unneeded lights and turn off TVs, computers and other electronics when not in use Rob Seiss of Pearl River, N.Y., said he's constantly nagging his family to turn off the lights and TV. He also turns down the thermostat at night and when his family is on vacation.

"Now, I don't just sound like my father," Seiss said. "I am my father."

Transportation Buying used cars and driving them for years is a great way to reduce your lifetime transportation expenditures. But there are other, more immediate ways to save, as well: • Raise the deductibles on your auto-insurance policy. • Get all the discounts you deserve, such as good-driver, good-student and multiple-car discounts. • If you're driving less, tell your insurer; you may get a cheaper rate. • Cancel collision and comprehensive insurance on cars older than five to seven years. • Investigate carpools and public transportation, and see if your employer offers any subsidies. • Bike or walk as often as possible. • Avoid repair bills by maintaining your vehicles properly with regular oil and filter changes. • Group your errands and, if you have more than one car, use the vehicle with better gas mileage. "Just because you have a gas-guzzling SUV," said Kevin Schilling of Kansas City, Mo., "does not mean that you have to drive it to the store to pick up a gallon of milk."

Food Dining out consumes about half the average family's food expenditures, so eating in more often is one of the fastest ways to trim your budget. Other ways to control costs include: • Bring lunches and snacks to work. • Cook once, eat twice: Double whatever you're making and freeze the excess for a later meal. • Make at least one or two meatless meals each week. • Avoid over-packaged, over-processed and highly advertised foods. The closer a food is to its natural state, the less it tends to cost. • Buy fruits and vegetables in season. • Cruise through your fridge daily to use items before they go bad. • Give up a vice (smoking, drinking, soda, salty snack foods). • Use the weekly grocery store circulars to see what's on sale and plan meals accordingly. John and Carla Robertson of Denton, Texas, have turned meal planning into a family affair, soliciting input from their three kids, ages 7, 4 and 1.

"Every weekend we sit down and make out the next week's menu," John Robertson wrote. "We refer to old menus for meals that we enjoyed, and we put together a lunch and dinner menu for the entire week. We also plan on cooking extra at some meals so that the leftovers can be used for lunches a day or two later."

Marcia Spires of New York City has another tip: Avoid recipes that require you to buy exotic ingredients you're unlikely to use again.

"I'm a lazy cook on a budget," Spires declared. "I look at the elaborate recipes in magazines and count the ingredients (are they capital intensive?) and the number of verbs in the instructions (are they labor intensive?). Too high a score and I skip to the next page."

Personal insurance and retirement You might be tempted to cut back on your 401(k) contributions to pay off debt, but that's not a good idea, if you can possibly avoid it. Most companies with 401(k)s offer matching funds, so failing to contribute means you lose that free money. You also don't want to drop disability insurance, which protects you should illness or accident prevent you from working. Here are better areas to look for savings: • Consider "refinancing" your term life insurance; rates have dropped in the past decade so you might be able to qualify for a lower premium. • If you have a long-term disability policy, investigate the savings if you opt for a longer waiting period to reduce premiums (if you have an emergency fund or other income to bridge the gap). • Suspend contributions to annuities and other accounts that don't offer matching funds or tax breaks. • Make sure you got proper tax credit for last year's retirement contributions if your adjusted gross income was under $25,000 (for singles) or $50,000 (for couples). The retirement tax credit of up to $1,000 for lower earners is one of the most overlooked tax breaks, said MSN tax columnist Jeff Schnepper in "10 big deductions too many people miss." If you deserved this break but didn't take it, it's worth amending your return.

Health care Medical costs are rising at a rate much higher than general inflation, while employers are asking their workers to shoulder a bigger share of the expense. You can fight back if you: • Buy generic drugs. • Look for free and low-cost clinics (see "A survival guide for the uninsured"). • Use urgent-care clinics rather than emergency rooms whenever possible. • Ask for discounts when you pay cash. • Carefully review hospital bills for errors (see "10 ways to avoid outrageous hospital overcharges"). • Monitor insurance claims to make sure they get paid. You'll find more information in MSN's "Save on health insurance" section.

Clothing and services Professional organizers say most people wear just a fraction of the clothes they own. If that describes you, consider easing your budget by selling stuff you don't wear and being more careful when you shop. You can also trim what you spend on personal care and other services. For example: • Find out what looks good on you and stick to classic styles that won't look weird next season. • Inventory your wardrobe and buy pieces that work with what you already own. • Avoid dry-clean-only clothing. • Make hair appointments at beauty schools, rather than full-priced salons. • Drop your health club and form a walking or jogging group with friends. • Hold a clothing swap with friends. • Ask friends and relatives for hand-me-downs. • Give kids a clothing allowance or offer "matching funds" for what they want to buy. • Check out consignment and thrift stores for lightly-used items. "I always go once a month to a thrift store not far from my neighborhood," said Rebecca Kelly of Holiday, Fla. "On Wednesdays, they have 50% off all the clothing. It takes a good two hours of time, but I’ve averaged (spending) about $30 per child, per season. If I were to buy the same clothes at a department store, I would be WAY out of my budget."

First answer by Lkysmy. Last edit by Lkysmy. Contributor trust: 953 [recommend contributor]. Question popularity: 18 [recommend question]