Believe it or not my husband I have never set up a budget and we are both over 40. Sure we kind of know about how much we can or can’t spend, and what we want to save, but have not ever put it on paper . And we certainly never put saving as a main goal. So we decided, with a lot of help and encouragement from a financial adviser, that it is about time. My husband has some serious bad spending habits, which we knew at some point and time we would need to sit down and discuss, and it was no surprise to either of us. Our worst habit we need to break is not talking about money with each other, we have always avoided it at all costs!! What came as a surprise was how much we (I) spend on groceries. I knew right away that was as area that we could improve on and convert over spending on groceries to a serious chunk back in the savings account. But I found that I too have fallen into some bad spending habits when it comes to groceries. I am sure I am overbuying. We have a freezer full and a HUGE pantry full of food. So the challenge I am giving myself is to plan out the meals and include using items we already have through the summer to save money. Also look for deals and buy sale/coupon items only. I can tell you my first trip back out to the store did not go so great. While I did save a lot (over $120) with coupons and deals, I spent way too much also. I have been reading blogs dealing with saving and smart spending and have gotten a few really great ideas. Now I just need to put it all into action hammer down,. The fruit stand on the corner has opened for summer business and I know I can get fruits and veggies there with cash for a lot cheaper than the store. I need to make that a part of my routine. I really am a frugal person, so I am not sure how I slipped into these bad habits, but I know I can course correct!!
I welcome any ideas/tips anyone has about budgeting, saving money, grocery shopping, or whatever! We need to get on track with this. What do you spend too much money on that you shouldn’t?
Here is one of my vices!