A New Frugal Level

**freedeal** · 05-29-2006, 11:44 AM

I'm going to need help, ideas - whatever you have to offer.

Almost 12 years ago I got really sick. Haven't worked since then and can't go back to work. I have epilepsy and my seizures are not completely controlled. Which means I have break through seizures every few weeks or usually at least once a month - usually more often.

Before I got sick DH was working on his master's degree. He loves to learn and his dream has been to be a history professor. At this point we have only our house and a few thousand in medical bills to pay. Otherwise, we are debt free. We have one son who will be going to college in two years and the other in 7 years. We have college funds set up. Retirement funds set up.

Here is the deal we want DH to go back and start working on his master's again. He will have to start over since it has been so long. We are planning to pay cash for this but in order to do that we will have to really cut our budget. The total for the master's will be about $30000. Maybe a little less. We will have to quit contributing to the college funds. We won't quit the retirement. Anyway, I am going to be looking for ways to slash our budget.

I have never really been "frugal". I know how to handle money and have spent the last year realizing I don't need any more stuff. I am also learning to live on less - gardening, conserving gas, etc. He is going to start in September. The tution will come from our savings but we will need to save more because we don't want to use up our savings.

So I'm interested in any ideas. Also, I know some of you have gone through this. Would love your input. I don't think this will put us in the place that we have no "fun" money but with two boys who are used to going and doing - it will be an adjustment for them.

**miss_thrifty** · 05-29-2006, 12:06 PM

* dont buy it unless u really need it
*always try to get sales prices
* coupons, coupons if u can in your area
* get rid of things u dont really use or need ( extra channels on t.v. or cable, sat.); extras on the phone ; try to use less electric if u can to cut down on bill,; try to make no more then 1-2 a week to make trips to store(gas reasons and less on the things u think u may need), lists are very important to keep check on where the money is spent
* make a list of all your bills,and exactly where it all goes so u know where u can cut in some places , keep track of everything, and ull be suprisee where it actually goes too.
* try not to use C.C.( credi cards) for purchases especially if its not on your list of must haves, and necessities

**starsapphire** · 05-29-2006, 02:54 PM

If he hasn't already, make sure your DH talks to someone at the Financial Aid office at his college for any grants and scholarships that he qualifies for. Scour the internet for scholarships. You may also qualify for educational write-offs on your income taxes, definitely check that out because I know they have them but I cannot recall what its called.

If you know people who have recently gone to college, ask them what classes they took because they may have textbooks he can borrow. I know that they change out textbooks every few years so you have to ask people who have gone fairly recently. I've heard there's good used textbook websites online too.

I'll post again if I think of more

**Lorelei** · 05-29-2006, 02:55 PM

Congratulations on you and your husband following that dream. It sounds like you're prepared for what you need to do.

As for advice, get the kids on board with the plan. They're old enough to understand the reasons behind the belt-tightening and may come up with ideas that suit your family that may surprise you.

If your boys don't yet know how to cook, teach them how. They might enjoy it, and it might decrease the desire to eat out. As you already know, the food budget is the easiest to cut, but with kids in the house... well, it's best if they're helping plan things and offering suggestions for frugal meals and snacks.

**Nada.Leona** · 05-29-2006, 04:07 PM

CREATIVITY!!! Be as creative and open minded as possible. It is very easy to get in the same ol' rut but if you close your eyes and then look at a chore/task/menu/product/decoration another way, you might find a fantastic new use/purpose/technique to try! Rethink everything and anything and you'd be very surprised at what you come up with.

**mommymath** · 05-29-2006, 06:07 PM

Congrats! Be sure to have DH check to see if he can get some work as a grader or TA or tutor -- in some cases at some places, he might be able to get a tuition break in addition to some income.

**ironmaiden** · 05-29-2006, 08:10 PM

I take it he'll be going part-time? How many years will it take?
How much does he make at his current job and is there anything somewhat comparable at the university he could do to get free tuition.
Definitely sit down with the aid office to get every idea possible.
What kind of job will he be qualified for with a master's degree? Is there a way to get that type of job and have the employer pay for the degree?
To be a professor wouldn't he have to go for a PhD?

**freedeal** · 05-30-2006, 06:40 AM

Thanks for all the encouragement. I am going to write a list of all of our expenses and see just where we can cut. I guess the real question with all frugality is how much are we willing to cut?

Originally Posted by ironmaiden

I take it he'll be going part-time? How many years will it take?

What kind of job will he be qualified for with a master's degree?

To be a professor wouldn't he have to go for a PhD?

Sorry, I should have said. He will keep his current job. He has flexible hours (at least flexible enough should he have a class during his normal hours he could leave). He will work full-time do school part-time. It will take 2 1/2 - 3 years for him to complete his master's degree.

With a master's degree he could do one of two things. One is he could go teach at a junior college and work on his PhD or he could stay in his current position and just work on his PhD.

Yes, to be a full professor he will need a PhD. Which he will have eventually.

He will be 47-50 when he finishes - so he would be able to spend the rest of his life doing what he loves. He is one of those people who doesn't see the need to retire so I could actually see him at 70 still teaching. He has read most of the textbooks for his degree. He loves history and would go to the student bookstore and just buy the textbooks and read them. He would order other's doctoral thesis and read them. This is definately a history man who needs to be teaching history. For nearly 20 years he has been a family counselor dealing mostly with schisophrenics (I can't spell).

I am sure he doesn't qualify for need -based financial aid. As for merit based - he has been out of school way to long to get that. He did have a full scholarship for undergraduate many years ago (we both did) so when we got out of college we were debt free.

I really think the hardest part will be the kids. I'll admit that I have spoiled them a lot. They are very good kids and really don't ask for alot but when they ask it is for something big. For example, my younger son hasn't asked for anything for a long time but he has been looking at small sailboats (very small) and a sunfish (which is a really small sailboat). This is what he wants. My dad lives on the lake a few miles from us and he wants to keep it there. It is things like that we have bought - paid for with cash. We never buy it immediately. They do research or whatever and then we look for the best deal. But $1000 for a sunfish will just not be in the budget with tution. Oh yes, and the new laptop that my older son wants for his birthday. I think those will be the hardest things for us to deal with.

**Puffy** · 05-30-2006, 03:08 PM

We went through this two years ago, DH, now 47, was driving two hours one way to complete his masters so he could teach. We found that some of his required classes were offered by the college over the internet which was great with the not so great winter driving. We were elligible for Stafford Loans which were great too, no payback until after he graduated and the interest rate is locked at 2.9%, the rates are higher now, think around 6% but the tax advantage continues. i would suggest that you speak to your accountant as to which way to write the classes off, if it is to learn something required by his job(does he teach now?) It could be a better write off on the Schedule A. Every family is different but that is an important point to find out before college starts. As for the kids, they'll adjust to the lack of money when they realize that now is "Dad's time" for college and that theirs is not too far away. Mowing the lawn is a great way for kids to earn their own. I had two nephews that worked summers at the YMCA and were paid reallllllly well.

**Telephus44** · 05-30-2006, 06:21 PM

First, I think that you should really ease into trying to live "more frugally." You don't need to try every tip at once, just pick up a few here and there instead of trying to dive into it headfirst overnight. I think families make the adjustment better when they can do it gradually.

That said, there's been a lot of good advice posted. I found that when I was trying to cut back, that the easiest thing for me was to start with the fixed expenses and bills - cable, phone, car insurance, etc. Did I need call-waiting? Could I increase the deductible on my car insurance? At least for me, this was the first step and an easy one to take since it has the most immediate gratification.

**staceyy** · 05-30-2006, 07:05 PM

Are you able to get disability due to your seizures? My sister has epilepsy and I recently contacted The Epilepsy Foundation on her behalf. I was surprised to see all of the assistance they provide. They help people get jobs, have free job training and help with the filing of disability claims. They also have websites with forums where members support each other.