who's a super mom now?

Now that I have an addition to my family (aka: cutie-patootie baby) and money is a little tighter than before, I've been perusing sites catered to stay-at-home and working part-time mommies, looking for ideas to help make my money go further. The author of moneysavingmom.com is starting an "eat what you've got" challenge. Simple enough. Just try to use up the food that's in your pantry, minimize what you buy at the grocery, save money. I can do that. Of course my family can't do without a few staples, like milk, fresh produce, and fresh bread, but I would love to clean out my food cabinets and start fresh all over again. So, since goals that are written down are more likely to be actualized, here are my goals:

1. Start date: officially January 1st, but I can use up items in my pantry now, if I choose.

2. Duration: as long as it takes to clean out the cupboards. Afterwards the goal will be to maintain a pantry with a minimal amount of food to last through the week and/or month.

3. Output: make breakfast, lunch, dinner, snacks, desserts out of what we have on hand and only purchasing what is absolutely needed to supplement our meals (ex: eggs for breakfast but can also go with items on hand for baking muffins).

4. Cost: I know what I could easily spend, but let's say my goal is to spend no more than $50/week on groceries. I know that may seem high for a weekly grocery bill for two adults and an infant who's exclusively breastfeeding (solid foods around the corner), but I base that on two factors; a. my dad spend $100/week on groceries for 2 adults and 3 growing children (and this was only 15-20 years ago) and b. I want to pocket what we don't spend and put it towards paying off debt.

5. Exceptions: we should be allowed to treat ourselves. One meal per week either eaten out or as take-out. Cost of meal does not count towards grocery bill nor can it be pocketed towards debt goal either (since I could easily spend $10 - $40 for a meal out). Entertainment spending goal can be created at another time.

So, I'll do my best to document our progress. It seems like a good resolution for the new year and like an obtainable goal. Other goals for the year:

A. Save up for next Christmas. I've done this one in the past with a generally successful outcome. I save up all of the loose change we collect throughout the year and make presents for family members only and holiday cards for everyone else. This year I'm counting on the sentimental factor to help us out since we have a baby (ie: customized photo calendars or photo mugs perhaps?). A small item that can be massed produced will cost less than previous years gifts (food baskets) and shipping costs will be cheaper, too. The rest of the saved money will be spent on our daughter and anything left over will either be saved for the next Christmas or be used to pay off a bill.

B. Pay off 50% of our student loans. This is a big one, because the bulk of our debt (and likely yours too) is student loans. Damn me and my other for getting a college education and damn the bureaucracy for making obtaining a higher education so expensive. My other and I worked while going to school, had daily living expenses to pay, and ended up with a large bill to show for our combined 2 bachelors and 2 masters degrees. Once this is all paid off we can seriously save up for a down payment on our own white-picketed American dream.

C. Begin and contribute to a college savings account for our daughter. I want her to hold a part-time job while in school, but I also don't want her to be burdened with years of debt that will postpone other life goals that she will want to pursue.

D. Take mini-vacations with my family. We just got a Zipcar membership and we have big plans for the car. Staycations galore (well, maybe not galore, but hopefully once a month) that will include seeing local sites and events only accessible by automobile. Being stuck in the city can make one feel claustrophobic. Of course we will take advantage of what the city has to offer, but it would be nice to drive somewhere too.

Wow! What a long post. But what a big year we have ahead of us. I hope you have goals that you'll work towards in 2010. I say goal rather than resolution because resolutions are meant to be broken and goals are meant to be realized. Happy New Year everyone!