One of the basic techniques for successful money management is to realize the control WE have over the process.
Our budget includes both fixed expenses and variable expenses. Fixed expenses are those bills we have to pay that are the same amount every month, such as our mortgage payment.
The expenditures we want to concentrate on in this article are the ones we call variable expenses. These are the ones WE can control DAILY and can either set us up for overall financial success or failure. With the right attitude, it can even be a fun process, because we are in control!
Variable expenses can include money spent on food, utilities, fuel, and any others that can "go up or down" with our daily decisions. This is why making wise decisions about buying food can have a great impact on our budget. As we think about the impact, it becomes necessary to consider carefully how much we spend on this expense category.
As homemakers, or who I like to call Chief Domestic Engineers (female or male), it becomes quickly evident the important responsibility regarding the amount we spend at the grocery store and the amount spent eating out. Money in this category can be spent in large portions and spent very quickly.
It is a small pass time of mine to notice what other grocery shoppers have in their carts because I am looking for good ideas for meal planning, and something I might buy NEXT food shopping trip, because it is not on my list this time. In the process, I can't help but notice others savings potential with just a little tweaking of food buying decisions!
Consider these ideas:
1) If there is some expensive food you really want, instead of buying it every week, consider buying it every other week or once a month, such as a bakery item or special seafood selection.
2) Buy store brands (generic such as Great Value) whenever available. It is a known fact that a lot of the manufacturing plants produce the exact same product on the same assembly line and glue the store brand label on instead of their name brand. Think about if there are only two brands of lemon juice, the store brand or the name brand; who do you think makes the store brand? Yes, 99% chance it is the name brand manufacturing company.
3) Buy everything on sale when you can get it. If you have a supply of that product, then wait until the next sale comes up. Try to anticipate how much your family will use until the next sale on that product, then buy it, and save a lot of money.
Once in a while, I miss guess and have canned goods that have been around for a while and are a month from their expiration date; I donate them right away to the community soup kitchen, so they won't go to waste. It is a good feeling to help.
4) Use coupons when you can, but it is unwise just to buy a product because you have a coupon. It has been my experience that in a lot of instances, it is less expensive to buy the store brand (generic) than to buy the name brand product even with using the coupon. Coupons come in great when there is a product you especially like and you can take advantage of the savings.
Check out our coupon links and see if there is something you can save on. Happy Shopping! Give yourself a challenge to see how much you can save on your regular grocery bill this month.
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Betty Gustin
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