Is $500 a month enough?
okay I recently quit my job to stay home with our 8 month old. at the time we thought we could afford it but now are thinking twice! my husband is paying all the bills out of his account (rent, utilities, ect) putting $500 a month into a checking account for me to buy groceries,diapers, toiletries, prescriptions ($25 month) and whatever else we need plus gas for my car. Its a little tight and I was wondering do I just need to find some money saving ways or are most families of 3 spending this much (or more) a month? I would really like to know what others are averaging a month and any tips on saving on groceries or household items is welcome! The point is for me NOT to have to work so I can raise our son not daycare , plus if I did work alot of my salary would go to childcare and for our family we want to try and not put him in daycare.
Asked By: horsedance5 - 4/30/2010
Best Answer - Chosen by Asker
Good for you! Staying home with your baby is the best thing you can do for your little one. We have made the same decision, and without knowing your location (which would determine prices), I would say $500 is definitely do-able - but not without planning and some willpower when shopping... More
Answered By: Sarah - 4/30/2010
Additional Answers (9)
Get a job. In this economy both parents have to work.
Answered By: Michael - 4/30/2010
I would say just for groceries and such that would be fine, but if that's supposed to cover gas too, then I don't think so. I live in FL and gas is like 3 bucks a gallon here. But to save on groceries, we buy most of our stuff at Superwalmart. Food is less expensive there than a regular grocery store. Also check the... More
Answered By: Anita Blake - 4/30/2010
There are two of us and I spend about $75.00 a week in groceries. That includes dog food (about $15 a week) and cleaning/laundry supplies. I clip coupons, and I really do save a lot of money. Between the coupons and the grocery stores sales I save roughly $30 a week. That really adds up over time. You could also... More
Answered By: Elley - 4/30/2010
500 for a month i don't think so. My family uses up to 350$ a week on petrol, groceries and toiletries, but we have a 5 member family. you should check if your on the best intrest plans at the bankif not change it. Tyr and find the cheaper items while shopping, and dont buy things you son't need, my sister does this... More
Answered By: Annie - 4/30/2010
well you can do it on $500 a month but it will be a little tight, depending on how much your husband makes a month. just write out a budget for your family, like write down exactly how you wanna spend the 500, set out at least 175-200 for groceries, 100 for gas (depending on how much you drive, at least 150 for diapers... More
Answered By: mollie's mommy - 4/30/2010
I personally think you may want to look into sitting down with your husband and writing down a strict budget, and work on ways to save money. Don't buy so much that you don't need, start an interest building savings account, and put so much into it a month. Also, purchasing things in bulk, such as the bigger boxes of... More
Answered By: Erica - 4/30/2010
I think it's enough and you can make it work. You may need to buy generic rather than name brand or shop based on the sales flyers or clip coupons, but that should be plenty for a family of three, especially now when your child eats very little table food. Buying in bulk (things you'll definitely use!) can be a good... More
Answered By: jen - 4/30/2010
In my home groceries for 3 are $100/week, diaper consumption at that age was $45/mo, toilettries ran about $75/mo, house related stuff (cleaning, trash, laundry soap) ran about $40/mo...So could I do it on $500? I would've had to adjust my lifestyle, but yeah, it's possible. 2 years ago, for two people, I had groceries... More
Answered By: Busy Barbie 007 - 4/30/2010
You could do it with some major budgeting and organization... More
Answered By: km&g - 4/30/2010
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