Establishing a household budget....anyone good at it?

by onlycurious 21 Replies latest jw friends

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  onlycurious

  We are going to be building our first home this Fall or next Spring. Kind of depends on the finances because all the prep work with the septic, utilities and retaining walls has really put a dent in our savings.

  In the meantime, I did a little quick analysis on our spending habits and found that we spend on average about $1000.00 on food a month for a family of 6. One of them is a baby.

  So, we need to bite the bullet and draw up a budget because this is ridiculous!

  So, can anyone offer advice on the simplest way to do this? We save a house payment every month so that isn't a problem, but we obviously can cut back on a few things.....like food expenses.

  Any real help would be greatly appreciated as I don't even know what 'normal' is for food cost. I just buy it.
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  averyniceguy

  I think it would be good for you to take a look at www.cheapskatemonthly.com
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  jayhawk1

  we spend on average about $1000.00 on food a month for a family of 6

  My family spends about $500 per month for food and there is 3 of us, so your food bill seems about right. I doubt you'd be able to cut more than $100 from that. There could be one way to cut the food budget...

  Oatmeal or Malt-O-Meal for breakfast

  Hotdogs or balogna for lunch

  Some sort of cassarole for supper

  Repeat every day until you could just die from the lack of variety
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  onlycurious

  Thanks for the website. I will check it out.

  As for the bologna and casseroles, my hubby would have a stinkin' fit! He actually is a meat lover and often cooks his own meals because he gets in late and prefers to cook for himself. I actually cook well and this offends me but that is another story.

  When he ranted and raved about the food bill I thought to myself, "Quit buying beer, wine and $60-$100 worth of meat in huge lots!" I didn't say it though because he needs to figure it out for himself.
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  jayhawk1

  Oh boy, a fight is a brewing...
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  JeffT

  Actually for a family of 6 big lots of things makes sense. Get a Costco membership and a freezer. It looks funny but half-gallon bottles of ketchup makes sense if you're going to use on every month. Buy family packs of meat, put in the freezer and use it! Plan meals a week at a time so you know what to thaw ahead of time. Running to the store all the time chews up a lot of unnecessary money.

  Find a financial planner, a good one will help you start budgeting your money and investing in small amounts. If he does his job right it will turn into larger amounts. I see you're in Washington. PM me if you want a recommendation. I don't think my family's planner is taking new clients but he probably knows some one that wants new people.
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  JWdaughter

  I am sure you use plenty of common sense just keeping it down to $1000! Some things I have learned to do-never pay more than $2 (or so, I will go up to $2.16) for a lb of cereal. The kind you like will be on sale, stock up then. Stock up on coffee, TP, deli meat(freeze in smaller or sandwich size portions) Laundry soap can be super $ or super cheap-depending on sales. Stock up when cheap. Cheap cuts of meat-chuck roasts and all will cook slowly all day and taste SO good and tender at night. Buy chicken breast in bulk when $1.99 or so a lb. Whole chickens can be very inexpensive. I clean and rinse them right after buying them and cook or freeze immediately. If they are clean and ready to go, it is SO easy to roast quickly and not be tempted to spend too much on 'easy/quick' food. Check out who has the best deal on milk. It can be worth it to go to more than one store (best limit it to 2 or you use all your time shopping). Spaghetti sauce is often had for .79-99 cents for a big can. i put a few frozen meatballs in it (ok, I nuke them quick first) for the meaty people in our family, the rest of us have it w/o and it is a cheap meal.

  Some things go on sale cyclically-take advantage of them, be aware of the good deals.

  Know what a good deal is! Don't be fooled by endcaps.Sometimes they are great deals, sometimes they have a great deal mixed in w/no deal at all and it fools us! Careful.

  If you have time, the least processed food is best for the family and the budget. Wash your own veggies, cut up your own chickens. Learn good substitutes. Try to only go to the store one time a week. If you need milk/bread later in the week (things I can't freeze for my crowd) send in a kid with explicit directions and the right amount of money. I have found this keeps ME from going in there and buying things I don't need/want/afford. That way my midweek 'pop into the grocery store' doesn't turn into a YUM, that looks good feast to the eyes.

  OH, most importantly, plan menus and shop with a list.

  And if hubby likes to cook, involve him in it, and have him cook enough for everyone on some nights and save and reheat for the next day. Save you from the cooking, plus, if everyone is eating the same thing, it will save money, unless he is eating filet mignon.
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  avidbiblereader

  I have found that the budget part of living isn't hard, 2+2 always =4, the biggest expense in a budget is

  Miscellanous, the one that never hits the budget monthly and always changes depending on timing, needs or WANTS.

  abr
• 

  Crumpet

  I'm brilliant at drawing up a budget - its the sticking to it that is the hard part.

  Taking alcohol out of the food bill can make a big difference.

  Making your Sunday roast go further can be helpful too. If I cook a roast chicken on a sunday then it makes chicken sandwiches and salads for the next day, and then a good stew or soup with vegetables and pulses added the following day.

  Buying in bulk can be good - get you BOGOFs when you can but dont be tricked into buying things you wouldnt normally or aren;t a family favourite. If you have a market near you - this is a good place to get masses of fruit and veg for a fraction of supermarket prices.

  Cut out junk and snack food and only keep a very small amount in the house. Let the kids use their pocket money for sweet treats rather than have it on the budget.

  Dont but shop prepped baby food - liquidise your family meals - this is a good way to get your baby's tastebuds acquainted with proper food and can actually stop them being fussy when older.

  Good luck with your house purchase! Hope you will be very happy!
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  greendawn

  In the UK for someone that lives in a city with many supermarkets there are usually good deals due to stiff competition, offers like two for the price of one and many other reductions. There are also smaller supermarkets that permanently offer their own brand name products at much lower prices while not compromising the quality. In addition anything prepared at home is much cheaper than the corresponding ready made items at the supermarkets and above all from take aways. And as mentioned above a freezer helps because buying in bulk or a lot of something when on a big reduction offer saves a lot of money.