It has now been one year since I decided to set and follow a budget for the first time in my life. I've never spent excessively, but I've never carefully tracked my spending either. This was the first year I've held myself accountable.
My budget may sound high, but it includes more than groceries: $800 a month for every trip to Kroger, Earthfare, Target, Wal-mart, Sam's Club, Walgreen's, CVS, craft store, bed and bath store, clothing store, farmer's market, and restaurant. It does not include my hubby's trips to Home Depot or Lowes, gas, prescriptions, doctor visits, pet store, or entertainment. I decided to follow the spending I could control and where I could see the highest savings. I might track some of our spending differently in 2011.
Since I haven't posted since my October totals, here are the numbers for November. I did not include any Hawaii vacation spending, as that was from another budget.
- Groceries: $412.73 (saved $189.71)
- Pharmacies: $78.55 (saved $217.17--73%)
- Other: $124.19 (saved $31.24)
Total Saved: $438.12 (42%)
Rebates received: $40.99
Rebates received: $40.99
TOTAL: $574.48
Debt from over-spending in October: $211.28
Total Under Budget: $14.24
Here are my totals for December, excluding some gifts bought online:
- Groceries: $405.92 (saved $283.57)
- Pharmacies: $98.56 (saved $129.93)--half was for Christmas cards
- Other: $109.02 (saved $62.10)
Total Spent: $613.50
Total Saved: $475.60 (44%)
Total Under Budget this month: $186.50
All and all, it's good news for 2010. I had budgeted $9600, I spent $9352.17, and I saved $6602.65 (41%). Some months I went over; some I made a real effort to save. That's how a real budget works. So if you're wondering if couponing is worth the hassle, it saved me $6600 last year and I spent within my means; so you bet 'ya! Check back later in the month to see my budget goals for 2011.
How did you do with a budget last year? Are you going to budget this year? What tips can you share for budgeting?
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