Budget Totals for 2010!

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 Spent: $615.47

Total Saved: $438.12 (42%)
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?

Budget totals for Sept. & Oct.

I haven't been posting regularly about my budgeting, but I have been keeping track. For those of you new to my budget posts, this is the first year I've truly kept track of my spending. It's been a struggle, but I'm trying to keep on track.

My monthly budget of $800 includes all groceries, farmer's markets, u-pick farms, clothing, craft stores, dollar stores, office supplies, dining out, pharmacies, and big box stores. I aim for $500 of that to be in groceries and $300 for everything else. At the end of August, I was only over $11.13 and had almost made up for two months of excessive spending.

September was a tough month for me because we had several dinners out with our anniversary and birthdays. Just when I got out of a hole, I dug another one.

Here are my September totals:

• Grocery: $551.00 (saved $319.35)
• Pharmacies: $103.29 (saved $237.37)
• Dining out: $156.19 (saved $33)
• Other: $232.40 (saved $112.36)

Total Spent: $1042.88

Total Saved: $702.08 (40%)

Rebates received: +$13.66

Debt from August: -$11.13

TOTAL: $1040.35

TOTAL OVER BUDGET: $240.35

So did I do any better in October? Here are my October totals:

• Grocery: $622.83 (saved $351.61)
• Pharmacies: $58.71 (saved $245.77--81%!)
• Clothing: $53.00 (son's uniforms on consignment)
• Other: $94.20 (saved $71.67)

Total Spent: $828.74

Total Saved: $669.05 (45%)

Rebates received: +$57.81 (including consignment sale profits)

TOTAL: $770.93

Debt from September: $240.35

TOTAL CURRENTLY OVER BUDGET: $211.28

Though I'm doing better for November so far, I'm not sure I will be able to pull myself out of the hole with the holiday spending on the horizon. I think it's fair to give myself some extra for presents, but I haven't yet set my Christmas budget. I'm totally procrastinating. If you need some tips for setting and staying on budget for Christmas spending, be sure to check out Coupon Katie's posts.

Budget Totals for August

The "uber-savers" out there won't be impressed with my budgeting; so they can stop reading now. However, this is my first year to truly keep track of every penny spent and keep within a budget that's right for our family of five.

My monthly budget of $800 includes all groceries, farmer's markets, u-pick farms, clothing, craft stores, dollar stores, office supplies, dining out, pharmacies, and big box stores. I aim for $500 of that to be in groceries and $300 for everything else. Unfortunately for June and July I went over budget a total of $280. So my goal became to get out of debt by 9/30 by reducing my budget by $140 a month.

Here are the August totals:

Grocery: (3 Kroger, 1 Earthfare, 1 farmer's market, 1 Weigels for milk, and 1 trip to pick blueberries) $325.68 Saved $221.00 (40%)

Clothing: $110.31 Saved $94.02 (46%)

Office Supplies: $31.05 Saved $17.40 (36%)

Pharmacies: $45.10 Saved $197.97 (81%)

Target: $17.79 Saved $12.45 (41%)

Dining Out: $16.16 Saved $7.62 (32%)

----------

Totals Spent: $546.09 Saved $550.46 (50%)

Rebates received: $14.96

Carryover Debt: $280

Amount Over Budget: $11.13

The good news is I almost got out of debt in half the time expected. And I had my highest percentage of savings yet: 50% overall. That gives me some more wiggle room for September because I'll be spending on two birthdays and our 12 year anniversary. Even that dinner I'll be using a coupon because a few days ago, Groupon had a deal for Baker Peters: spend $20, get $50 credit. We've never been there and I'm looking forward to it.

What tips do you have staying on budget? Do you have software that you use to track your spending / savings?

Budget Totals for June & July

Here's a post I've been putting off because I hate thinking about money. There, I said it. I would prefer feeling good about all the money I "saved" rather than think about all that I spent. Too bad we live in the real world where the bottom line is the more important number. So if you need a little prodding to get your budget in order, hopefully I can provide some inspiration or at least lessons learned.

My monthly budget of $800 includes all groceries, clothing, dining out, and big box stores. I aim for $500 of that to be in groceries and $300 for everything else. Since I had a surplus in May, I had a little cushion for June: $867.72. I thought for sure, I'd come under budget, but... sigh...I didn't.

Here are the June totals:

Grocery: $661.31 (saved $337.81)

Clothing: $234.71 (saved $128.33; includes a $50 gift card not yet spent)

Pharmacies: $101.12 (saved $293.59--74%)

Total Spent: $997.14

Total Saved: $759.73 (43%)

Amount Over Budget: $129.42

So did I do any better in July to redeem myself? Well, yes and no. My Sam's Club membership was expiring in July and I allowed myself one more trip to stock up on some of our favorites. Without that trip, I'd have been in the clear. Could've, would've, should've.

So here are the July totals:

Grocery: $688.47 (includes $384.50 at Sam's; saved $194.76)

Clothing: $119.39 (saved $78.66)

Big Box stores: $74.34 (saved $58.01)

Pharmacies: $67.19 (saved $193.92--74%)

Total Spent: $949.39

Total Saved: $525.35 (36%--lower since Sam's Club savings are not factored in)

Total Over Budget: $149.39

Combining June and July, I went over budget about $280. So what happened? Basically, I got busy or lazy or both and didn't keep a close watch on my spending. "I need it" or "It's such a good deal" were my mantras. It's going to be tough making up that deficit in August / September, but I've got to get back in the black.

I'll be more mindful about my totals each week so that there aren't any surprises by the end of the month. If I spend $35 less a week, I'll be out of debt by 9/30. That's not so hard. I have to decide which purchases I can postpone or forgo, and I'll be actively chipping away at my reserves in the pantry and freezer. I'll probably spread out my Kroger runs to do 3 instead of 4 in a month. One way or another, I'll get back on track because this isn't Monopoly money!

What tips do you have for reducing your debt?

May Budget Totals are In

I realize I'm a bit late with this post. Part of me wants to slink away from the responsibility of keeping track of my finances. An even bigger part of me wonders if anyone else even cares. I'm not an uber-saver; nor am I an uber-spender. I think I'm right in the middle and for that, I hope there's some value to sharing with you.

My monthly "discretionary" budget is $800. Usually $500 goes to groceries and $300 to all other spending at big box stores, specialty stores, and pharmacies. This amount includes clothing, gifts, dining out, even berry picking. One line item I've kept separate is entertainment. I'll probably work that in at some point.

With the way the weeks worked out, I am putting some spending at the end of month towards my June budget, like my swimsuit purchase. We were also fortunate to get a few meals paid for my grandparents which are not included in these totals. Since I went over budget by about $100 last month, I decided to challenge myself this month to spend just $700. Here's the May breakdown:

Grocery (Kroger, Ingles, Sam's Club): $500.09 (saved $165.16; note: no way to know what I "saved" at Sam's Club)

Local Farms (two farmers' markets and two trips to pick strawberris): $71.25 (worth every penny)

Pharmacies (Walgreen's, CVS): $57.12 (saved $150.07--pretty proud of that!)

Dining Out: $18.94

Crafts / Gifts: $41.88 (saved $9.60)

Clothing: $36 (uniforms bought on consignment)

Total Spent: $725.28

Total Saved: $324.83 (31%)

Since I received a check for the recalled medicine for $93, I'm going to take $25.28 out of that credit and use the rest towards my June budget. So June's budget will be $867.72. I'm hoping to come well under that, but maybe finally I can stop beating myself up.

Where I saved the most were the pharmacies: 72%! A lot of these items I will be donating to our Couponing for Charity mission. I have $125 worth of products to donate so far. Our MOMS Club chapter will be taking our first collection to the Volunteer Ministry Center, which serves the poor and homeless of Knoxville. I'll also be presenting a program to teach some of their clients how to get these great deals themselves.

This month's savings isn't as high as in month's past, but that's primarily due to a shift in where I've spent some of my money: local farmers, a consignment sale, and Sam's Club which do not document "savings." For me, it's not about the percentages of what I saved, but did I spend my money wisely? I think this month, I can answer a resounding, "Yes."

April Budget: Totals Are In

In case you're new to my budget posts, I'm not one of those women who can feed their family on $50 a week. I'm muddling through with a budget for the first time in my life, but I'm holding myself accountable. My monthly budget of $800 is relatively high to most couponers because I include all my "discretionary spending" on groceries, household goods, clothing, crafts, restaurants, fast food, and home stores.

For the month of April, I gave myself the added challenge of an extra week (5 vs 4) but keeping the budget the same. My shopping included 5 trips to Kroger, 2 to Target, 1 to Earthfare, 1 to Ingles, 4 to CVS, 5 to Walgreen's, 2 to Bruster's Ice Cream, 2 to Home Goods, 1 consignment sale, 1 pizza delivery, and 1 date night with my hubby (expensive but totally worth it).

In the spirit of full disclosure, I am not including the generosity of my visiting mother-in-law who paid for one dinner out for the family, toys for the kids, and some clothing for me for an early Mother's Day present. I also didn't include a few freebies I enjoyed (such as free coffee and ice cream on tax day).

Here's the break-down:

The bulk was spent at the grocery stores: $659.26

Dining out took second place: $90.10 (and that was only twice for dinner and twice for ice cream)

Pharmacies: $76.95

Target: $45.05

Gifts / Clothing: $23.16 (actually I spent $85.26 but I made $62.10 from the consignment sale; so that was factored in)

Total Spent: $894.52 ($94.52 over budget)

On a more positive note, through sales and coupons, I saved $585.15 or 40%. Coming into the last week, I had $70 in my budget. I thought I could eek out $20 at Target, $10 at pharmacies and $40-$50 at Kroger. I was wrong. My perimeter shopping went way over what was expected, and I found a few extra good deals at Target. I also bought some more gifts that I had planned to wait til May to buy.

So what should I do now? Say oh well, I'll try to do better next month?! Not me. I'm giving myself another challenge for May. I'm going to take off $100 from my May budget and see if I can come in at $700. I'll think twice before ordering pizza or stopping for ice cream; dining out really eats into a budget fast. I'm starting to get choosier about what deals I buy at pharmacies. And I hope to shift more of my spending to farmers' markets and away from big box stores. My goal is to spend less on packaged foods and more on fresh. I do a pretty good already, but I can do better. We'll see.

How does your budget compare? Have you found any of my experiences helpful to you?

Budget Update

As much I typically don't like discussing money, I'm willing to lay it on the line for the sake of keeping me on track and accountable and hopefully helping someone else who may be new to budgeting. The totals for February, my second month of budgeting, are in: I came just under budget and saved 40%.

However, I learned a few things about my spending and have adjusted the budget to meet them. Originally, I had set aside $150 a week for groceries (I know, an exorbitant amount for you Uba-budgeters). I've since learned that $125 a week or $500 a month is reasonable for four trips to Kroger, one trip to Earthfare, and hopefully two trips to farmers markets starting in spring. I suppose that's not terrible given that we never eat out.

I had originally budgeted $50 a week for the other household spending: Walmart, Target, Walgreens, and craft stores. I've since decided to bump that number up to $300 a month ($75 a week) and include clothing and consignment spending. There should be months that I come well under that number but when you and your son need a new pair of sneakers and you have five birthday parties to attend, that can blow the budget quickly if you haven't built in some buffer. I'd rather be reasonable in my expectations and come under budget than always beating myself up for going over.

So the totals: I spent $779.83 (out of $800 budgeted) and saved $512.89 (40%). Of that total, $496.57 went to groceries and $283.26 went to household goods. That doesn't include the freebies I wouldn't have gone for otherwise (like the Chick-fil-A breakfasts). I got $10 in rebate checks which goes towards next month's budget, I stock piled a number of gifts, and I bought several board games I'm looking forward to playing with friends. We'll see what March brings. And for those of you out of state, we have a pretty high sales tax in TN (about 9%) and that really adds up when you're budgeting. No sympathy? Darn!