I believe stretching your budget means working with what you have. Besides using coupons–there are ways to make what you have work! Join me for 30 days of stretching your budget–this series is not just about couponing, but using what you have and making it work!
I can’t say I have ever enjoyed budgeting. I am not a numbers person, I just need a number and I usually make it work. If you have not made a budget for yourself, I suggest you do. Budgets help you limit your spending and keep you in track with your long term goals. They also keep you from living paycheck-paycheck.
Creating a Budget requires three steps:
- Identify how you’re spending money now.
- Evaluate your current spending and set goals that take into account your long-term financial objectives.
- Track your spending to make sure it stays within those guidelines.
Need help with a Grocery Budget?
I get this question often: How do I know how much I should spend on groceries? There is no real rule to this. When my husband and I sat down to make a budget for our groceries–we had a number that we could work with and stuck with that. This number stayed for awhile because we found that coupons and cutting down helped us keep it. Until recently (almost two years later) we are now finding that we need to increase it.
Our family of five spends $300 per month on groceries. This is 50% lower than what the USDA feels a family of 5 would need to live off of the “thrifty plan”. Many people have a misconception when it comes to food. They feel that they need to eat, so they just accept that what they pay at the store is what the NEED to do. This is not the case.. I suggest you challenge yourself and find a number you are comfortable with–and set a limit.