When was the last time you took a good hard look at your finances? There’s a chance that if you’re like most folks, the post-holiday bills have started arriving. This is often a time when our financial state gets a rude awakening as the bill is literally due after our holiday spending.
There are all kinds of reasons we decide we need to save money – or quit spending so much. It may be that you need to build an emergency fund or pay down debt. You may be looking at your kids and counting the number of years it will be till they’re looking at college. You might be thinking ahead to your own retirement years. Or you may want to save for that dream vacation.
At our house, the need to re-examine our financial status came last fall. We got word about a significant (I mean heart-stoppingly significant!) increase in our health insurance premiums and deductibles. The sticker shock necessitated a new look at our budget.
However, like most people, many of the budget items are beyond our control. Expenses like car payments and rent or mortgage are pretty much set in stone. And while we can take steps to save money on our utility bills, there’s only so much play there. We can cut back on the electric and heat bill, but considering everything we already do to save energy, there won’t be significant decreases to be found there.
But we all need to go through the process of examining – and acknowledging – how we spend our money if we want to find areas to cut.
Some areas where you can save money include:
- Eating out, drive-through, and take home meals: this can add up to lots of money that you’re sometimes not really aware you’re spending.
- Entertainment: even things like those cheap movies can add up in a hurry.
- Gasoline and car expenses: can you cut unnecessary trips or carpool?
- Clothing: I know how hard it can be to resist that really great basic item especially when it’s on sale (because we convince ourselves that by we’re really saving money by buying it now).
- Activity expenses: do you have memberships or automatic withdrawals for services you no longer use? A quick perusal of your bank or credit card statement may remind you about some money that’s slipping through your fingers for no good reason.
- Personal grooming: Can you save some money by skipping the professional manicure, pedicure, or salon visit and doing your own at home – at least occasionally?
Each of these areas has potential to put money back in your pocket. They do require some sacrifices though because to save money in these areas, we have to give something up. I know – yuck. Who wants to feel deprived if they don’t have to?
So is there a way to get your budget under control and reduce expenses in order to save money?
The best part is that you really don’t have to feel deprived to do it.
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For us, the budget item we can control the most is our grocery spending. The decisions we make in the grocery store – and before we even get there – can make a huge difference in how much comes out of our bank account.
I can hear some of you now. “I have teenage boys and they eat a ton!” or “My hubby refuses to eat rabbit food. He’s a meat-and-potatoes man” or (my personal favorite) “I am NOT using scratchy toilet paper!” I’ve been up close and personal with all of these realities so I definitely get it.
But it is possible to feed teenage boys, keep a picky husband happy, and not irritate your bum while saving money at the grocery store.
How do you do it?
- You plan what you’re going to cook (or have someone else cook) for the week.
- You actually follow the meal plan. This allows you to plan how to use leftovers and keeps you from throwing rotten food in the trash. Think of that (formerly) green head of lettuce as a bunch of dollar bills. You wouldn’t toss those it the trash!
- You pay attention to sales. And when something is on sale, you stock up. You try to never pay full price for items that regularly go on sale.
A few years ago I made a trip to the grocery store to stock up on chicken breast and toilet paper. Both were on sale at a terrific price and we were a family of 5. On my way towards the check out counter an elderly lady passed me and took a very obvious look at what was in my basket. I could see the puzzled look on her face and then she asked me why I was buying so much toilet paper and chicken and nothing else. I replied that I would take the chicken home and put it in meal-sized packages for freezing because my family would definitely get around to consuming it all and that I liked to buy when things were on sale. She looked at me like I had lost my mind. So I looked in her cart (well, it was only fair!) and she had one little package of chicken, one can each of green beans and corn, and a couple of other assorted items. She was obviously only buying what was going to be needed immediately. She didn’t say anything else but it was obvious that she thought I was strange.
Funny, but she didn’t get around to asking about the toilet paper.
- You pay in cash or take a calculator so that you don’t spend more than you’ve budgeted. I find that when I take actual real money, I am very conscious of what is going in the cart.
- You shop when you know you’ll have time to compare prices and won’t feel rushed. I know that one is hard, but it really does help because there will be price differences even in the items you need that aren’t on sale.
- You don’t shop for brands. Okay, I’ll admit that there are some products where the brand label really is the best. We’ve got some definite preferences that we feel are worth the extra cost (toilet paper definitely being one of them!). But for many – many – items, the generic or store brand is just as good as the popular brand.
- And of course, you shop from a list.
One thing that has helped me get even better at saving money is the Grocery Budget Makeover. I’ll admit that my first reaction when I learned about it was, “I’m already a good shopper!” And I am – but I learned to be an even better shopper and planner after I took the course. I figure anything that helps me save money is a worthwhile investment – and I saved more than the price of the course in my first week at the store which made me super happy!
Registration is currently underway for the Grocery Budget Makeover through Jan 8, 2017 with a new class starting on Jan 9. If one of your goals is to tame those finances, the grocery store is a great place to start!
I’ve got a new printable I’d love to send you (current subscribers – I’ll send you the link in the next email). My Savings Goal will allow you to track how much money you’re saving towards a specific goal that you’ve set. There’s something about a visual reminder that is so motivating!
And if you liked this post, please share it with your friends on Facebook or pin it to your favorite Pinterest board. I’d appreciate the shares and I love being able to help someone.
Since grocery shopping can be such a chore, I’ve picked out a few items to make it just a little simpler.