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Miserly Moms - Book Review |
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Book Reviews -
Home and Finances
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Written by Jennifer Thompson
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 Miserly Moms: Living on One Income in a Two-Income Economy, by Jonni McCoy
Before
I got pregnant with my daughter, my husband and I were a two-income
family living in Southern California. I had several months off with my
daughter but felt certain that I had to go back to work when the new
school year started (I was a full-time teacher). I couldn't imagine how
we would have enough money to get by if I stopped working. We would
lose my income, and we would also lose my benefits, which were being
fully paid for by my school district. My husband and I took a leap of
faith, and I resigned from my teaching position. I've had a chance to
review Miserly Moms: Living on One Income in a Two-Income Economy,
and I'm happy to say that we intuitively followed some of her
principles without knowing it and discovering even more ways to get by
on just one income without feeling like we're giving up anything.
The author of Miserly Moms, Jonni McCoy, outlines eleven miserly guidelines:
One: Don't confuse frugality with depriving yourself
Two: Remove little wasters of your money
Three: Keep track of food prices
Four: Don't buy everything at the same store
Five: Buy in bulk whenever possible
Six: Make your own whenever possible
Seven: Eliminate convenience foods
Eight: Cut back on meats
Nine: Waste nothing
Ten: Institute a soup and bread night
Eleven: Cook several meals at once and freeze them
Trying to apply all eleven principles at once, if you haven't been
living a lifestyle like this, can seem downright impossible! I like
what Ms. McCoy has to say about this right in Chapter One: "÷take one
step at a time. Pick one idea and apply it. When it becomes
comfortable, apply another one. Even if you only choose to try a few of
the ideas, you will save. The more ideas, the greater the savings."
It's reassuring to read this, as it reminds us that we can take things
one step at a time and still reap some benefits.
The first principle is more about a change in attitude than it is a tip
or trick. Ms. McCoy gently helps her readers reframe how they think
about cutting corners, eating out less often or making a meal from
scratch. Instead of feeling deprived, she challenges us to keep in mind
our goals - why do we want to save money? For me it helps to remember
that trying to live more frugally allows me to be at home with my
daughter, and that is more important to me than yet another dinner in a
restaurant or another trip to Kauai. In addition, trying to save money
where we can has actually allowed us to save money and take some
(frugal) family vacations!
In addition to explaining what her eleven principles are all about, Miserly Moms
also has sections that help put the principles into action. The book
has roughly 50 pages of recipes and meal-planning; warnings about the
difference between "good deals" and "bad deals" at warehouse clubs
(good deals include spices, batteries and cheese, while bad deals
include plastic bags, paper products and milk); sticking to your budget
during birthdays, holidays and other special occasions; saving money on
baby-related expenses (try store-brand disposable diapers or washing
cloth diapers at home; make your own baby wipes; make your own baby
food); calculating the "cost of working"; tips for working moms (do
your grocery shopping once a month; don't eat out; avoid buying clothes
that require dry cleaning); suggestions for husbands; ten ways to get
children to save; and a whole slew of miscellaneous tips for everything
from photo developing to bank fees.
Before reading Miserly Moms
my husband and I had already started working on principles one (Don't
confuse frugality with depriving yourself), two (Remove little wasters
of your money), five (Buy in bulk whenever possible), six (Make your
own whenever possible) and eight (Cut back on meats). Now that I've had
a chance to read this book, I have more motivation to try and work on a
few more principles, like eliminating convenience foods and cooking
several meals at a time. Ms. McCoy's book has plenty of useful
information to help anyone save more money, whether you're trying to
eliminate one income entirely or merely cut back on expenses to free up
your money for other things.
Copyright 2004
This review is available for reprint.
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