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%)

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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?

March Budget: Totals are In

If you've stumbled upon this post thinking you'll find guidance on how to feed your family on $50 a week, you're in the wrong neighborhood. I commend the women like Frugalissa, Gabrielle, and Coupon Katie who routinely hit their budgets of $200 - $400 a month. I, however, have set some realistic and attainable goals that are right for MY family, and at the end of each month, here is where I hold myself accountable.

I've decided to group all the food, household needs, clothing, etc. into one category and set a monthly budget of $800. That includes a weekly trip to Kroger, one trip to Earthfare, weekly trips to Walgreens and CVS, one or two trips to Target, as well as all consignment sales, department stores, craft stores, dollar stores, and any other extras I might splurge on. It would cover fast food and dining out if we ever did either, but those cases are slim. Yes, I once tried to order a burger at Chick-fil-A. Fast food is not my forte.

So since we rarely eat out and my husband takes left-overs for most lunches, I put a lot of time and effort into making healthy, affordable meals. I shop the sales, use my coupons, load my card with e-savers, and work the deals at pharmacies. But I still can't come close to the mega-budgeters listed above. And you know what: that's ok. I'm careful about how I spend our money and I'm keeping track of what I spend where. For that, I've come a long way.

So how did I do for March? I actually went over ten bucks. I could have forfeited that last trip to Target and the good deals on the board games. Or I didn't have to buy the 1000 paperclips for five bucks, but I was thinking ahead. I needed about 200 paperclips for a MOMS Club project, and the larger bin was the better economical decision for the long haul. So yes, I now have paperclips to last me, well, forever, but I can live with that. And since I was $20 under budget last month, I can let this minor infraction slide.

This brings me to one final budgeting issue that was a mathematical certainty at some point. Generally, I've been budgeting by the week, four weeks in a month. In April, I will need to budget for five weeks (including all that I just spent on Sunday). I'm keeping my monthly budget the same; I'll just have to make one week light. Maybe I'll have a "perimeter only" week at Kroger where I only buy produce and dairy. I just made a lot of freezer meals, and I bought two large items that will go into several meals: a turkey and a ham. We'll see.

So the totals: I spent $810.65 ($556.68 primarily to groceries and $253.97 to household goods). Through sales, coupons, and e-savers, I saved $616.07 or 42%. I also earned $40 in rebates.

So how did you do?

Shopping in my Garage

Now that it's Saturday, I can proudly declare that I have succeeded in NOT going to Kroger this week. I know what you're thinking: so what?! But to this deal-addicted maven, it's been a struggle to stay away. A few times I almost talked myself into going by trying to focus on what I could get for free or with the $6.50 in catalina coupons that expire next week. I've been kicking myself for not picking up more Barilla mini pastas when they were 10 for $10. Will the stockpile I have last until the next sale?

I know it sounds crazy, but this is what happens when you start paying attention to prices and a budget. You agonize over the deals you're missing and the coupons that will expire while you stayed away. So why put myself through the torture?

A. I'm committed to staying within a monthly budget. Last week, I went over by $85 and the only way to get back on track is to cut somewhere. With all the consignment sales going on now, it wasn't going to be there.

B. Kroger continued the same sale this week as last, meaning there were no extra deals to entice me. But if you're reading this 3/13, you can still pick up nearly free granola bars today.

C. It was time to examine and deplete some of my stockpile in my garage--from both the chest freezer and pantry rack.

Before I began this experiment, I sketched out a weekly menu to make sure we had enough food. Running out for a fast food dinner was not an option. It became a game of "What can I finish and clear out?" No food source was safe from my rampage: the remaining 3 tablespoons of hummus spread, the last sliver of organic cheddar cheese, the final swig of half n half for my coffee. My goal was to have a mostly empty fridge so that I could clean it thoroughly on Sunday.

Then it was time to take stock of my pantry and reorganize shelves. Bob had commented a few times that we had chips on the verge of expiring and did we really need all this cereal? I checked all the expiration dates, and the closest was May. A few pretzels were slightly past date; so into the lunch boxes they went. I have a lot of cream of mushroom soup, canned beans, and fried onions; looks likes it's time for green bean casserole. Who says you have to wait for Thanksgiving?

We do have enough granola bars to take us through September (when most expire). I also learned that I have way more soup than I'd expected. I had been storing them in two places and then found some extra I'd bought at Sams last fall. I hate to admit we have 23 cans of soup, but they're all good til the fall of 2010. I won't stress about them yet but will not buy any more. I've also vowed not to buy more storage bags until we deplete some of the stock. I have multiple boxes of every size from snack to freezer gallon.

My next focus was on the freezer. I did the same clearing out odds and ends (the last butternut squash soup, three frozen hotdogs, etc.) I also finished off my last freezer meals to make room for the next round. Then I decided it was time to make some duck gumbo, given the stash of duck breasts. My father and brother are hunters and graciously give them to me if I carry on the family recipe for duck gumbo. It's a lot of work (takes two days), but it is so delicious. I made enough for one meal now and 13 servings to freeze. I can't disclose the recipe because it's a family secret, but seriously, who reading this other than my mother has wild ducks to cook?!

So with some fresh veggies and fruit from last week, a few leftover meals, and odds and ends pulled from the pantry or freezer, we were just fine. I'm happy to report I only spent $104.21 this week. Most went for three consignment sales, but I have all the clothes the kids will need for the year. I spent about $15 for food at Earthfare and Weigels. Hey, we needed milk and I couldn't pass up the free organic potatoes good through 3/16; plus, I saved nearly 50% at Earthfare this week! Check here for match-ups good through the end of March. And of course a bit extra for my stickers to stuff Easter eggs. That puts me $10.79 in the black for March so far. Mission accomplished.

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!

Who Says Budgeting Can't be Fun?

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?