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Groceries and money How much to spend?

Budget, Debt, Finances, Food, Frugal, Meals, Saving money No Responses »

Mar 222008

A lot posts I read across the blogosphere have a lot to do with groceries and money. You know, “how much should you spend, how much is too much , what are other people spending” and stuff like that. It is really hard to come down with a definite dollar amount. Food is a need, a want, an addiction and just tastes sooo good. It appears to be that you need to spend as much on food that is required to survive since food is a basic that you can not live with out. But that is not the go ahead to buy the most expensive brands of food either. You have to find a healthy medium. Now before I continue please keep these 2 things in mind; always remember you have to do what works for your family not everyone else, the rule is you should only spend 15 – 20% of your income on food. What methods work for you?

There are a lot of things that need to be considered when setting your grocery budget:

how much income do you have
how many people do you need to feed
do you clip coupons
do you plan menus
do you have other sources for food? Maybe your own garden, free breakfast program at schools, you know someone with a garden?
are you brand loyal? this is not always a good thing. There are some items that I always buy generic: salt, pepper, sugar, cooking oil, flour, pancake mix, panacake syrup, bread, potatoes and applesauce just to name a few.

For our family of 6 we roughly spend $420-$477. So far this is working for our family. I am hoping this will go down if I ever can get started with the once a month cooking. I am a little curious though, what are you spending on groceries?

Reasons I love Guaranty bank

Finances, Frugal, Income, Just had to share, Kids, Saving money, What I'm Learning No Responses »

Mar 172008

I love my bank because it has a pretty good rewards program where we get money back. That is a big plus in my book. Another reason I am showing my bank “love” is because I was going through my mail and found 2 coupons for a free fee reversal. This means if for some reason I have a overdraft, I give the bank my coupon and they erase the $39 overdraft fee! This is just one of those things that I am glad to have in hopes that I will not need it. And I would like to give myself a little pat on the back because we have had no overdrafts since the beginning of the new year!!! (That is a big deal since I used to get 3-8 overdrafts a month.)

I just found out they have a savings plan for kids. I think that is a great idea because while I am learning how to make better money decisions I would like to teach my kids about money right from the start. It is called the

Free & Easy Kids Club Savings Account

By making it fun and rewarding to save, the Free and Easy Kids Club savings account helps teach savings habits that kids can take into adulthood!

Create Great Savings Habits:

Just $10 to open and receive FREE gift: kids can start with what’s in their piggy bank!
Prizes awarded for deposits: Kids receive a prize whenever they make a deposit (one per day please!) so they look forward to saving!
Interest earning: Kids can watch their money grow and learn how interest works.
Monthly statement: Kids get a statement showing how much they’ve saved, which encourages more saving!
Free & Easy Kids Club website: fun activities, games and practical tips for kids and parents on allowance, savings and more can be found at our Kids Club Website!

Flexibility for small and big savers:

Every dollar counts: Kids are rewarded for deposits of just $1 but we hope they save much more!
Automatic deposits: Adults can set up systematic deposits in any amount from their checking or savings account into their child’s account.
No monthly service fees or minimum balance requirements
Any adult including parents, grandparents, aunts and uncles can open an account for the special children in their lives.

I think this will encourage even the youngest member of our family to save. I plan on signing the kids up next week.

A moment of weakness

Finances, Frugal, Just had to share, What I'm Learning No Responses »

Mar 122008

Well yesterday I had a moment of weakness. My husband and I went to OfficeMax because I wanted to look at some clip-art software. I was looking through the software trying to make a decision between 2 when a clearance sign caught my eye. It was not in my direct line of view and it was off to the side but it caught my eye anyway. So of course I just had to take a quick peek. At first I saw nothing that I could use or even wanted. But then I saw it. A mp3 player. And not just any mp3 player but the one my daughter has been asking for since October of 2007. The regular price is $69.00 and it was on sale for $25!!! I just had to get it. My daughter will be 14 on March 26th and I had no idea what I would be able to get her for her birthday that was in our price range. So I had my clip-art software ($9.99) and the birthday gift ($25) and I was ready to go. My husband is in line and I am just looking around, you know at the cameras and stuff then something else caught my eye. It was a mini photo printer regular price $99.99 on sale for $35! I remember seeing this printer years ago wishing I had one. So I rush towards my husband to tell about the deal of a lifetime on a printer. Guess what he said? “Why do you want another printer, don’t you have 3 now?” I just stopped in my tracks. I could not believe he would not let me get this printer. I felt a little embarrassed. I mean why should I have to beg for $35 to get a printer? I actually wished I had my credit cards. I could have just bought it and that would have been the end of it. I was actually quite upset after we left the store. I really wanted that printer. But late last night I started thinking. I really did not need that printer. I have printers at home. One of those is a HP that I love very much. I think what got me was the printer was on clearance. I saw that little yellow sign and felt I had to have it. It would be stupid if I did not buy it. But in my case it would have been stupid if I did by it and I am so glad my credit cards are in the freezer. Over the past few months I have learned a little but I still have a ways to go. I am definitely glad I was with my husband.