I recently decided to put effort into following a budget. It’s not that I had that shocked expression that you sometimes see when people check their account balance and it’s not because I’m in huge debt. I simply wanted to see where my money was going and how much of it I was spending on food in particular. I decided to give myself 5 categories – Food, Clothing, Gas/transportation, Entertainment and Other. Surprisingly enough since I started my little budget book I have written down what I spend and each week I’ve managed to come in under budget.
So my question is, do you budget? If so do you have any struggles with your system?
Tricks of the trade? How detailed is your budget?
Any input is appreciated.
Thank you everyone for your comments.
Lisa I agree with you, if you don’t fell like cooking then pop in that frozen pizza and save yourself the expensive delivery! There’s nothing wrong with taking a break once in a while.
Carol, I too have learned the value of a grocery list and use it every week. I even go through all the flyers and then have everything priced matched at Wal Mart. I never realized how much I was spending at the more expensive grocery store but I do now.
Amreen your right, maybe I should start taking out a little something in cash every 2 weeks so I can by myself a treat or two. I deserve it right?
Thanks again ladies 🙂
budgeting has been an eternal struggle for me. one thing that helps is to use cash instead of credit. for “fun items” like coffee, magazines, lunches out, a cute pair of earrings, i always use cash. i take out $100 every two weeks for this purpose, and if i run out then i don’t buy it.
I don’t follow a budget but should. I find it completely overwhelming!
I have attempted to limit the amount of money I spend at the grocery store. The majority of my dollars are in fact spent on groceries. I tend to be a bit of a grocery shopaholic. Luckily I don’t have this same problem with clothing or shoes. I will go to the grocery store for one or two items, and the next thing I know I have spent $60. For me, meals planning is key to keeping my spending under control. I really try to purchase only those items on my grocery list.
Hope this help!
I’ve been following a budget for years now. It started back in the days of being short on money, having young kids, etc. and it’s become a lifelong habit. I think everyone should have and follow a budget. I have a few more categories: housing, fixed expenses (like TV, internet, power, etc.) and I make sure I differentiate between groceries and eating out – you’d be surprised how quickly you can lower your variable expenses by not eating out! We’ll usually pick up a frozen pizza or cooked chicken with our groceries, and then on those nights when we’re dog tired or totally busy or just don’t feel like cooking we have something that cost $8.99 instead of $18.99 (or more!)
I would also recommend having a savings goal…if you’re coming in under budget each month, it’s really fun to have something to put that extra money towards, even if it’s something small like an expensive new pair of shoes.
Good job Lynne, keep it up!