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It's not how much you make....but how much you save that makes the difference.

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A short blog about not over-spending...    As today is Saturday....(grocery day)....I'll write about food shopping.

As usual we have our handy dandy shopping list of all the groceries we'll need to get through the week with us.   DO NOT IMPULSE BUY....MAKE A LIST AND STICK TO IT.   The first stop is the bank to withdraw some cash.   Note I say withdraw cash.   Using a debit card or credit card is too easy and by using cash it prevents us from over-spending on items we don't really need.

Before heading to the bank we always do a rough calculation of what the week's grocery bill will be.  As there's only the two of us, I usually withdraw under $75, depending on what's on the week's list.    Except for holiday dinners we never spend more than $75 a week on groceries.   We read the flyers carefully to see what's on sale this week and only buy if it's something we would enjoy having.   Sometimes if it's a really good sale we'll stock up on wanted items.  Just because it's a bargain, doesn't mean you should buy it.

We use cash for most shopping.   It's one method of not being tempted to purchase discretionary items.   Here's an example of how stocking up and wise buying can help.    This week our total grocery bill was  $36.61.  

Your read correctly..    $36.61.   Our fridge and cupboards are never short of anything and our weekly grocery bill is generally under $55.00.

We always buy the best cuts of meat, chicken etc....but cut our intake in half.     Example: One steak or large chicken breast cut in half is enough for two.   We supplement with more fresh or frozen vegetables.   It's much healthier.....and much less expensive and we never go without.   

Meal preparation and presentation is half the battle.  My wife and I love to cook....so every meal is a gourmet delight.   At our house dinner is an event every evening.   Dessert is ok...just cut your normal portion in half.

We find this method also avoids food being wasted.  

Here's another tip.....  Resist the temptation and stay away from fast food restaurants.

 

Good luck. Thanks. David

Duane Murphy
Expert Real Estate Partners LLC - Appleton, WI
Broker- Owner-Real Estate -

David-

Great tips! Also another one that I don't always follow but usually regret is to NEVER EVER no matter what go grocery shopping on an empty and hungry stomache!!! Bad things will result!

Jun 27, 2009 07:48 AM
Matt Listro
National Credit Fixers - Matt Listro - Vernon, CT
Your Credit Repair Expert

Hi David: Excellent Advice.  I have been grocery shopping on an empty stomache and everything looks good!

:)

Jun 27, 2009 07:52 AM
Steven L. Smith
King of the House Home Inspection, Inc. - Bellingham, WA
Bellingham WA Home Inspector

David,

I know exactly what you mean. Often those who live simpler, less obvious lifestyles have far greater networth than someone who makes big bucks and spends bigger bucks, which is a scenario that often goes together.

Jun 27, 2009 07:57 AM
Rita Fong
RE/MAX REAL ESTATE TODAY, Executive Broker 901-488-9590 - Marion, AR
Realtor - Marion Arkansas Homes for Sale

David, that's right.  I always say it is not how much you make, is how much you spend.  Millionare can go broke also if they keep spending like there is no tomorrow.  Thanks for the post to remind us.

Jun 27, 2009 08:00 AM
Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services

That is amazing.  I have not been able to do that good, even with cutting the portion sizes in half!  Good for you.

Jun 27, 2009 08:01 AM
Richard Dolbeare
Inactive - Wailuku, HI
Living the Hawaii Lifestyle

You have found a system that works for you and that's key!  Assuming you keep records of your spending, that means you need to manually enter each item into Quicken or whatever you use.  I track everything and prefer to use credit cards because the transactions can be downloaded directly into Quicken which saves bunches of time. 

Jun 27, 2009 09:17 AM
Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

Do not impulse buy -- this is a GREAT adage.  Should apply to everything - INCLUDING buying a home!!  Thanks for the 'penny saved, penny earned' post!!

Jun 27, 2009 09:45 AM
Eilean Foster
Keller Williams Realty Atlantic Shore - Egg Harbor City, NJ
Real Estate Agent

David, you forgot MY personal favorite - COUPONS!  As I absolutely HATE shopping of any kind, I only shop twice a month, and with my wonderful COUPONS save at least $50 with them each trip! And of course I only buy/stock up on sale items *and there had better be a coupon incentive*!  Keep in mind, manufacturers price the product based on consumer use of coupons!

There are only two 2-legged consumers in my household, so for the 4-legged consumers the purchases are motivated strictly by sales and COUPONS!

And btw...If I don't shop when hungry, the ONLY "consumers" that get supplies are the 4-legged ones! 

*Yes I know, a Woman that doesn't like to shop, and must go hungry in order to buy... mindboggling!*   *chuckle*

 

Jun 27, 2009 11:31 AM