I have a confession. I've never really set a budget and stuck to it before. I've always been "mindful" of my spending but never disciplined. I decided to change that in 2010 when I set a budget for groceries and household goods. Based on previous spending, I allowed myself $150 a week at Kroger and Earthfare and $50 a week anywhere else (Target, Wal-Mart, Michaels, Walgreens, etc.). That's $800 a month, which many may consider high, but hey, this is my budget.
I saved all my receipts and tallied the savings they calculate on the bottom. I'm happy to report that I came in $152.52 UNDER budget for January and I saved an average of 41% through sales and coupons. That's a whopping $443.32 I did NOT pay! That number is somewhat inflated because I'll never pay full-price at Walgreens but that's still pretty good I think. And I've bought a number of organic or green products, which are typically pricier. But one of the reasons I'm budgeting and clipping coupons is so that I can afford healthier foods for my family and greener products for the environment.
If I come in under budget again in February, I'll adjust my groceries to $125 a week. The truth is I get kind-of giddy at saving money and calculating my savings. This budget thing may be fun after all.
How do you compare budgeting?
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