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How to Make a Budget for Your Household and Family

How to Make a Budget for Your Household and Family

Making a budget for your household and family can be really overwhelming. As a matter of fact, it’s been said that only about 40 percent of all American households have a working monthly budget. Yet, once you are able to come up with a monthly budget, you will realize that it is really worth it. Coming up with a budget that you could possibly maintain in the long term is also the same as building your wealth, while also helping yourself to be out of debt and cut down on expenses.

Although I really think it’s worth reading the entire article, this is a summary of the topics that will be covered.

What is a Budget?

What is a budget

Basically, a budget refers to the itemized summary of your income and expenses in a certain period. This list helps you to determine if you still have some extra money left to spend on other things or whether you need to earn more to supplement your expenses. It is usually created with the use of a spreadsheet and will provide for a concrete and organized breakdown of how much money you are earning and how much of it you’re letting go. It is a valuable tool that can help you in managing your money, regardless of how little or how much you are earning.

The Importance of Budgeting

The Importance of Budgeting

Keeping a close monitoring on your budget can help you in many ways. First, it helps you in easily identifying some wasteful expenditures while also quickly adapting to any changes on your financial situation and then achieving your financial goals in the end. Once you see your breakdown of expenses in actual, you might just be surprised at what you can find.

Coming up with a budget is important in fully understanding how things could add up. Moreover, coming up with a budget can help to lessen your burden and your level of stress, because once you have a budget, there will not be any financial surprises.

Some of these are unexpected medical expenses and car problems. If your friends are having a last minute preparation for a vacation, then you will not end up panicking or wondering if you can come or not if you have a budget. Having a sense of financial clarity is very important in order for us to go through life despite of the financial challenges that we have to go through.

Making a Monthly Budget

making a monthly budget

It’s easy to make a monthly budget. Here’s a guide to help you.

  • Determine your monthly income after tax – this should be easy. Make sure to include all other income you have, if you are taking up several jobs in a month. If you’re working on lots of odd jobs and your income is irregular, then compute your average earnings in the past six months to one year.
  • Figure out your monthly expenses – you should be able to properly keep track of all your expenses in a month. This includes groceries, debt payments, car loans, rent, mortgages, student loans, credit cards and all forms of debts. You must also include the monthly premiums you pay for all your insurances. If you’re paying utilities annually, then compute how much is your average monthly estimate.
  • Map it out – after you’ve determined your income and your expenses, the next thing to do is to map it out. There is software that you can use to assist you in coming up with a budget. With this software, you will not have to do the computation manually, after you have inputted your income and expenses. If you’re doing it manually, simply subtract your expenses to your total income and the difference will be the remaining money left for you to spend for other things. In most cases, this amount often goes to savings. We’ve covered this in greater detail later in the article.

The 50/30/20 Rule

The 50/30/20 Rule

One of the most popular methods to budgeting is with the use of the 50/30/20 plan. On this plan, the first thing that needs to be done is to compute your income after tax. After this, review your budget and determine your needs. The amount you will spend under the needs categories, like groceries, insurances, utilities and housing must not go beyond 50 percent of your total income.

Next is the wants. As you know, these are things that are not necessary or those that you can live without, such as a holiday trip, expensive dinners, etc. The rule states that your wants must not go beyond 30 percent of what you are earning. Finally, the remaining 20 percent should go towards your savings and repayments of debt.

When you go for the 50/30/20 rule, try not to take it very literally. The proportions are fine, however you need to keep in mind that your life is not like anyone else. The rule is just basically a framework that you can use as a guide and for you to work with.

After you have reviewed your earnings and expenses and figure out your needs and wants, then that is only when you can come up with a budget that can help you to make the most out of your income. Several years from now, you would still end up falling back on similar rule to help you out with preparing your budget.

What to Include in a Budget

What to Include in a Budget

Figuring out your personal budget categories may not be easy. This is especially true if this is the first time you are doing it. Here are some of the budget categories to get you started.

  • Food – we can never survive without food, and thus, this should be on top of your priority list when coming up with a list of budget categories. This includes groceries, pet food and treats, as well as your dine-in and take-outs.
  • Shelter – you cannot go on through life without a roof over your head so shelter must also be given utmost priority. This includes your mortgage, property taxes, rent, household repairs, etc.
  • Utilities – in this day and age, it can be hard to live without electricity and heating. Aside from these, there are also the water expenses, phone, Internet, cable, garbage dues, etc.
  • Insurance – the purpose of insurance is to pay off expenses that you cannot afford but you desperately need to cover. You could raise your deductibles in order to save money if you’ve got a fully funded emergency fund.
  • Clothing – of course, we can’t just go out wearing nothing. This includes your kid’s clothing and everyone else in the household.
  • Transportation – this includes your gas, car maintenance, oil changes, tires and repairs. If you’re commuting, then this category consists of the fare you are spending daily.
  • Medical – even if you’re healthy and you do not have any medical expenses, this must still be included in your budget category.
  • Personal – this includes all your personal expenses, such as haircuts, salon trips, gym memberships, cosmetics, etc.
  • Retirement – it’s absolutely necessary that you secure a retirement plan in which you can depend on, so this must also be prioritized when coming up with your budget categories list.

How To Start Making a Budget in Excel or Google Sheets

The best way to create a budget is with the use of a spreadsheet, Microsoft Excel or Google Sheets which you can find under your under your Google Drive, and it’s completely free to use. Here’s how to go about it, see the bottom of the section for a sample budget we made.

  • Open Excel or Google Sheets and start with a new spreadsheet like this.

blank google sheets

  • Next, type in the months in which you want your budget to cover. Type each individual month along a row of spreadsheet.
  • Place a heading for your income, and below it will be subheadings for your salary, benefits, pension, etc.
  • Next, add up all your expenditures. In the same column that you typed the income types, you need to include the type of expenditures like utility bills, mortgage payment, shopping, savings, leisure, etc.
  • As soon as you’ve got the headings on your spreadsheet, start with the calculations, so once you type in the figures later, Excel or Google Sheets can  easily calculate the totals. To do this, click on the cell where you wanted the total to appear. Then click at the “Autosum” symbol at the menu, in Excel.
  • Click and then drag the cells that you wanted to be included on the total so all the cells are highlighted. Then click Enter.
  • As soon as you’ve got the formula at the first cell, copy the cell and paste it to all other cells that will require similar formula.
  • Now you will have to compute the total amount for the income section and repeat the same thing at the Expenditure section.
  • Again, copy such calculation along the entire row.
  • Finally, you have to add in the figures for your specific income and expenditure, while Excel will automatically compute the totals.

Check out our sample budget that we made with Google Sheets, it is publicly accessible.

sample budget in google sheets

The sample budget shows a lot of interesting things. In the given month, you received 70% less benefits than anticipated, and overall your income was 9.2% lower than anticipated, and you spent 300% more on clothing than anticipated, and the same with medical. In the difference column, a negative number suggests that variable was higher than anticipated, which is a good thing for incomes, and a bad things for expenditures. It also shows at the bottom, that you spent $3,300 more than you anticipated you would.

Where you anticipated having $1,150 more in cash at the end of the month, you ended up spending $2,750 of your existing savings instead, and your total budget was off by $3,900, which shows something went wrong.

Tips for Sticking to a Budget (and saving money)

sticking to your budget

By now, you probably know some ways on how to prepare for a budget. Sure, it may look so easy, but the problem is sticking to your budget and not going beyond it. Here are some tips to help you, and consider learning more about money management.

  • Keep it real – so you have decided to set aside $100 per month to spend on dining out, yet in reality, you are spending about three times that amount. This is a common mistake and is often the reason why a lot of people often go beyond their available budget. If you are really serious about sticking on your budget, then you should keep it real by making a few sacrifices.
  • Consider setting up an auto draft – this is one of the easiest ways to save in order to achieve your goal, if you want to save money for a house or something else. If your bank allows you to set up an auto draft, then go ahead and take advantage of it.  By setting up an auto draft, you will not end up accidentally spending your money on unnecessary things, including a last minute out of town trip.
  • Plan your meals ahead – planning out your breakfast, snacks, lunch and dinner a week in advance is also a great way to stick to your budget and save some money. Instead of merely grabbing whatever looks enticing when doing your grocery, create a list of your meals ahead so when you visit the grocery, you will end up buying meal specific list.
  • Refer to your social calendar and plan ahead – weddings, birthdays, retirements and anniversaries could potentially ruin your budget. To avoid this, it is important that you plan ahead. So check your social calendar and find out what is coming next. If you are planning to celebrate by going on a trip or by giving an expensive gift, then start saving as early as possible.
  • Use a budget buddy – if you have already done everything above, yet, you still find yourself going beyond your budget, you better look for a budget buddy or an accountability partner. If you are married, then you can have your spouse as your budget buddy. If you are still single, then look for a budget savvy family member or a friend who can serve as your budget buddy.
  • Give up your credit card – according to financial experts, consumers spend more if they have a credit card. This is because they will not usually feel the pain of credit card dues until the bill will come a month later, and this may be hurting your credit score. If you think you are not good at making monthly payment or if you feel that you cannot afford to maintain a credit card, then you better give it up and use cash for everything instead.

To make your quest a successful one, work these 10 money management tips into your every day life.

Making a Household Budget

Making a Household Budget

Coming up with a household budget is usually a step-by-step process. But if you do it the right way, then you sure will be able to easily reach your financial goals and live without any worries regarding your finances. Someone who is able to manage their household finances will tend to have peace of mind and is not constantly bothered by money anxieties. Here’s a guide on how you can create a household budget.

  • Set goals – first of all, you need to identify the things that are more important to you and those you cannot live without. From here, come up with your goals, such as paying off debts, saving a certain amount of money, etc. You may have some short term and long-term goals, so identify them. Long-term goals are planning for a retirement, etc. Once you have clearly defined your goals, then it should be easy to start budgeting your household since you already have some motivations in mind.
  • Identify your income as well as your expenses – once you’ve established your financial goals, the next thing to do is to figure out your income and your household expenses. This is the most important step to budgeting for your household because your budget plans will be based on how much you are earning and how much you will be spending.

Identifying your monthly income should be easy, but figuring out your spending might be a bit complicated. A lot of people are not quite clear about where their money goes. Among the most common household expenses are groceries, utility bills, transportation expenses, etc.

  • Separate your needs from wants – the key to successfully managing your finances is to separate your needs from your wants. If you’re not really sure if a certain item is your need or want, then try to do without such item for a certain period of time. If you’re able to live well, then that’s your want. But if you cannot live without it, then that’s a need.
  • Design your household budget – before you start, you need to make sure that your expenses will not be more than what you are earning. To design your budget, start by identifying your income and then list down all your expenses. After which, deduct all your expenses from your income and the difference will be the money left that can go towards your financial goals.
  • Put your budget plans to action – remember that your plan will remain a plan if you will not put it into action. If you are really serious about achieving your financial goals then you should make sure to put all your plans into action. If you think that the money you get to save out of your budget will not be enough to reach your financial goal, then you may need to look for ways on how you can maximize your earnings. You can perhaps get another job or start a small business.

How Much Should I Budget for Food?

How Much Should I Budget for Food

Figuring out how much money you need to set aside for your food can be a bit tricky since food is a necessity. How much you will spend for food will all be up to you, and there’s no right or wrong figure when it comes to this.

You can choose to eat at some fancy restaurant everyday if you want to and also if you can afford to do so. If you are on a budget, then you better stick to preparing your own food at home and minimize your trip to the restaurants. Here are some ways that can somehow help you with determining the right amount that should go towards your food.

  • Determine the right percentage of food from your overall budget – by now you should know how to prepare your household budget, based on your earnings and expenses. From this, determine how much can go towards the variable and the discretionary expenses. Food should fall in this category and obviously, the amount must not exceed the remaining budget you have set aside for variable expenses.
  • Try to compare your food expenses to others who live in the same area as yours – of course, you cannot come knocking on each of the door in your neighborhood just to find out how much they are spending for food. There are online resources that can help you in determining how much the people near you are spending for their food and compare this with your actual food expenses. If you find out that yours is just way too much, then it’s time to look for ways on how you can lower this amount. You can also try asking around your neighborhood for tips on how they budget their food.

As mentioned, only you can determine how much you should spend for your food each day. There are lots of factors that could affect the cost of food and among these is the cost of living in the area that you live in, the type of food that you eat, and many more.

Budgeting in College

Budgeting in College

Setting a monthly budget for college can help to give you a peace of mind. As you know, going to college is expensive these days, so if you don’t plan or budget your finances well, then you could be faced with lots of financial woes in the future. So here are some tips on how to budget in college.

  • Be realistic on your budget – you can start by identifying how much you will be earning each month and then knowing how much you need to spend out of your earnings. Be realistic when it comes to this, because the more realistic you are, the more you will likely to be able to stick to your budget.
  • Identify your needs and wants – when you go to college, you might get overwhelmed by the daily expenses, but if you know how to identify your needs and wants out of the long list of expenses, then you will not go beyond your budget. Your needs should be a priority and only when you have money left you should be spending for your wants.
  • Include a miscellaneous category in your budget plan – identify all your expenses and add them up. Take ten percent out of the amount and this should go towards the miscellaneous category. This is very important because going to college does not only require paying for the tuition fees. There are so many miscellaneous expenses that might come along the way so you have to prepare yourself for this.
  • Savings should be included as an expense in your budget – figure out the amount that you want to save each month then consider this as an expense when preparing your budget. You can set up a separate account for your savings and make sure you transfer money or deposit money to it every month. Your savings can be useful in the event of an emergency.
  • Your budget should be aligned with your financial goals – organize your receipts and billing statements and arrange them per month into a folder. This can make it easier for you to retrieve information if you will need to dispute a certain utility bill or keep track of your spending history. Organizing your receipts and bills will also be useful when you file for your taxes by the end of the year.
  • Try to pay cash for all your small expenses – give yourself allotment of cash monthly, weekly or daily and use this when you need to. Each time you pay in cash, you will end up being more conscious of the things you are spending on than when you pay by credit card or debit card.
  • Review your budget from time to time – reviewing your budget each month can help you with staying on track in your finances. Basically, a budget plan serves as a forecast of what could happen in the future. Thus, you should take time to review and recount what had happened and if you end up overspending or going beyond your budget, try to adjust your budget so you can still stick with your financial goals.

Traveling on a Budget

traveling on a budget

Everyone wants to go on a holiday at some point in his or her life. If you are in need of a vacation, yet your finances cannot seem to bear the weight of a holiday trip as of the moment, then you should look for ways on how you can travel on a budget.

Traveling in a budget is not really as tough as it seems. It only requires careful planning and some savvy solutions. Here are some ways on how you can travel on a budget.

  • Set a fixed amount for your travel budget – booking for your travel without setting any budget in mind can be very dangerous. Cheap fares, various attractions and online reviews on resorts, could tempt you to spending so easily. You may actually end up overspending without you realizing it. Thus, before anything else, you must first set aside how much money you should be willing to spend for such travel. It should be an amount that you are able to afford and make sure that you will not go beyond it.
  • Travel when it’s off-season – if you have a flexible schedule, you could save a lot of money if you travel when it’s off-season.  Moreover, as an added bonus, you would be able to enjoy your travel even more since there will be less crowd at some tourist attractions. Thus, the first thing that you will do when planning your trip is to find out the peak season on the place you are visiting to. Tourist season will normally vary depending on the destination, although in general, traveling in the summer months or when it’s the holiday break could mean paying more on accommodation and airfare.
  • Consider other hotel alternatives – you could save a lot of money if you explore nontraditional accommodation for your travel vacation. For instance, instead of the fancy hotels, you can stay at hostels, vacation rentals, couch surfing or with friends’ home. Hostels are known for offering inexpensive lodging and you may even get to share room with some other travelers if you will choose to book at a backpacker hostel.

Aside from saving money, you also get to meet some friends. Vacation rentals are also ideal for long-term travelers. Websites like Airbnb are a great place to look for vacation rentals. With this option, you will not only save some money, but you also get to experience how it is living like the locals. Staying with friends and couch surfing are also other great alternatives to the more expensive hotel accommodations.

  • Go on shorter trips – whether you’re traveling for exploration or relaxation, you do not really need to jet off for a few weeks just to enjoy a new place. Shorter travel will obviously cost less than going on a much longer trip.

There are lots of trips that you can take on some places near you that will only take 2 to 3 days to explore and will not cost you a lot of money for your accommodation. Remember that a big portion of your travel expense tends to go towards your hotel accommodation so if you can lessen the number of days you’ll be traveling, then you sure will have great savings.

  • Try to book last minute deals – if you cannot afford a lengthy trip, then travel during the long weekend and nab last minute deals. There are websites that will allow you to book last minute deals on flights, attractions and hotels. This might need more flexibility, however, last minute trips can sure make traveling much more affordable.

When trying to nab last minute deals, keep in mind that price may sometimes win out over the destination. Thus, this kind of approach will work well if you are not really picky when going on a vacation.

  • Travel in a group – if some friends or family members are planning a trip, try to join their group in order to save on your travel expenses. Group rates on flights, accommodations and tours are usually much cheaper, often saving you up to 15% than by booking alone. A lot of group rates offered by some airline companies will usually have a minimum of ten people and will give you up to 10% off the published fare. But this option will require booking several months ahead so plan your trip as early as possible.
  • Sign up for a volunteer vacation – if you will not mind pitching in some of your time as part of your travel experience, then you can sign up for a volunteer vacation. This allows you to travel for cheap and even for free. There may be some instances that you will have to shoulder some of the expenses, but most of the organizations will usually shoulder the cost of your accommodation and food.
  • Define your priorities – so you will not end up overspending for your travel vacation, it would help if you first define what your travel priorities are when planning the trip. If your priority is just to experience a new culture and discover a new place, then you can do all these for cheap. But if you want a relaxing vacation that involves staying on 5 star resorts and spas and indulging on some expensive treats, then understandably, you will have to prepare more money to be able to enjoy all these. So before you plan or save up for your travel, define your priorities and come up with a travel budget.

Consider watching this video on traveling on a budget

Tips for Living on a Budget

Tips for Living on a Budget

We all want to live comfortably. However, we also have some financial obligations to attend to, and as a result, we may sometimes need to sacrifice comfort in exchange of some money.  Yet, living in a budget comes with so many benefits. Sure, you may not yet be faced with some financial challenges as of the moment, but if you are not being careful with the way you spend your money, sooner or later, your bank account will go empty. To avoid this from happening, here are some ways on how to live your life in a budget and prevent any financial woes in the future.

  • Look for a financial budget plan that’s suitable to you and stick with it – you will find that there are lots of financial plans these days that can help you in saving money in the long run. These plans will also help to eliminate your debts and budget on your daily spending. So do your research well and find out which of these plans will be suitable to you, given your income, expenses and lifestyle. Once you found the right financial plan for you, try to live and stick with it.
  • Negotiate at a farmer’s market – it is possible to eat healthy even when you are on a budget. One of the best ways to go about this is to visit your local farmer’s market and you can try to negotiate for cheaper prices especially if you’re buying in bulk. Another way is to stock up on the produce during its season. Freeze them up to be saved for future use.
  • Exercise in nature – if you live in an area that’s near hiking trails, a park or in a beach, then take advantage of these and exercise in nature. You could save a lot of money on your gym membership if you will choose to exercise in your own. Furthermore, you also get to enjoy the benefit of relaxing in nature while you enjoy the beautiful views. You can go hiking or jogging with a loved one, and if you’re lucky enough to live near a beach, then go swimming!
  • Be vocal about your financial limits – there’s nothing wrong with saving money and you can be vocal about it with your friends and other people you regularly hang out with. Sometimes, the reason why we tend to spend way beyond our budget is because we are shy to let other people know that we’re on a budget so they would invite us to eat out at some fancy restaurants. But if you are honest with them, then they will understand if you say no the next time they will invite you out. They might even offer to treat you instead.
  • Buy your clothes at thrift stores and garage sales – if you’re just patient enough to scan through outlet stores, thrift stores and garage sales to look for high-end clothing to buy, then you will surely save a lot of money than having to shop from high-end boutiques and on some shopping malls. Your clothes take up a huge percentage of your living expenses so if you know where to shop for clothes in a budget, then you sure can save a lot of money.

Eating on a Budget

eating on a budget

According to some financial experts, a big portion of your spending tends to go to food, especially when eating out at some fancy restaurants. Thus, if you know how to budget your food, then you sure will not go beyond your budget, and you may end up saving a lot of money in the process. So here are some smart ways on how you can eat out on a budget. Aside from helping you to stay on budget, these tips can also help you to stay healthy.

  • Purchase fresh produce that is in season and then freeze it – fresh produce is always a great idea if you’re trying to live a healthy life. Unfortunately, it can get a bit expensive. If you’re in a budget, the best thing that you can do is to purchase fresh produce ahead of time, during in season. You can then stock them up and freeze them for future use.
  • Avail of discounts and plan your meals accordingly – if your local supermarket offers a discount card where you can avail of exclusive sales privileges, then you better sign up for one. Instead of buying based on the weekly meals you have planned, try to plan your meals around the products that are currently on discount.
  • Buy the less expensive meat – just because you are on a budget does not mean that you can no longer eat meat. You can still go ahead and enjoy some slices of meat, but always look for the less expensive ones, such as chicken thighs instead of the chicken breast. You can prepare meals based on different cooking methods, such as slow cooker, so that tougher meats could become juicy and tender.
  • Prepare meals out of whole grains and beans – quinoa, brown rice and freekeh, are among the less expensive ingredients to include in your meals, yet, they are tasty and can make for a healthy meal for the family.
  • Always plan and prepare your meals ahead – whether you are having veggies for the entire week or for your lunch or dinner, it is always a good idea that you plan and prepare in advance. This is not only a great way towards eating healthy, but is also a great way to stay on budget.
  • Keep your pantry and fridge organized – leftovers are great, however, they defeat your purpose of trying to live within your budget. A great way is to label your leftovers and keep your pantry and fridge organized in order to help minimize any food wastage.
  • Repurpose your leftovers – if you do not want to eat similar meals over and over again, then you may want to repurpose your leftovers instead. Repurposing leftovers means coming up with an entirely new meal out of the leftovers. For instance, you can make sandwich out of your poached chicken leftovers.
  • Visit your local farmer’s market during the end of the day – depending on the area where you live, your local farmer’s market may be able to sell their local produce at very low prices at the end of the day. So if you want to save money on fresh produce, try visiting your local farmer’s market during the end of their operating hours, where you will most likely be able to score great deals on fresh produce.

Grocery Shopping on a Budget

Grocery Shopping on a Budget

Budgeting for your grocery is actually an art, a kind of skill that not everyone are lucky enough to have. Income, time, life situations, preferences, seasons, store availability, life situations and others could get in the way and might make you go beyond your available budget. So to help you with, here are some tips on how you can do your grocery shopping without going beyond your available budget on groceries.

  • Keep track of what you could spend for a certain month – before you can decide on a budget for your grocery shopping, you must first have a realistic idea of what you will usually be buying when you go grocery shopping. If not, then you may end up spending more on food and drinks than what you can actually afford. Start by tracking down the groceries that you are spending for in a month.
  • Set a budget each month but make a plan each week – track your income monthly so you get to also track your grocery bills for each month. It is much easier to stick to monthly grocery bills, instead of doing it weekly. On the other hand, it’s equally important that you plan your meals weekly in order to minimize eating out, which eats up a huge amount on your income.
  • Determine your priorities – there may be certain items that you will prioritize for your wellbeing, like basic whole foods and fresh foods. By the end of the month, you can give up fringe items before you cut out on priority items like juices, tea, desserts, optional toppings, etc.
  • Avoid eating out – eating out is the number one factor that could ruin your monthly budget. So as much as possible, avoid eating out. Or better yet, schedule eating out every once in a while. Perhaps, you can do it once or twice in a month, or maybe during the time when you receive your paycheck. If you love delicious food, then go online and research the recipe and try to prepare it yourself in your own kitchen. You sure can save a lot than eating it from your favorite restaurant.
  • Plan your variety – you should vary your grocery list in order for you to appreciate your food even more, thereby minimizing any chances of eating out. Some people could eat ramen for the entire month just to save money on groceries, but of course, this is not the same for everyone. What you can do instead is to create a plan ahead of some budget friendly meals that you can prepare.
  • Keep a list on your fridge – you should have a running list on your fridge and jot down items that you will need as soon as you run out of them. This is an important tip but can surely make a huge difference on your grocery runs that may end up ruining your budget.
  • Stock up during sale, but be careful not to overstock – when your local grocery is offering huge discounts and sales, then take advantage of this opportunity and stock up with as many grocery items as you can. But be very careful not to be overwhelmed with the sale as you might end up stocking more than what you actually need.
  • Take time to compare from one grocery shop to another – taking the time to visit at least three grocery stores is really worth it. This allows you to compare prices of products from one shop to another. Sometimes, we choose to shop at the nearest grocery store not knowing that it actually has the most expensive products. You might be better off traveling a bit more and looking for grocery stores that sell products at a lower cost. Even if the difference on the price of one product is only a few cents, but since you will be buying these products in bulk, you could end up saving up to a hundred dollars!

Aside from the tips above, there are several other tips on how you can save money when you go grocery shopping. Remember that your grocery expense takes up a huge chunk off your income. Thus, if you could find ways to lower your grocery spending, then budgeting would be so much easier.

Budgeting Tools You Need to Know About

Budgeting Tools

I am a very big fan of you learning to either make a budget in Excel or Google Sheets as I believe you’ll truly gain a better understanding of your economy that way, but alternatively you can use various budgeting tools like YNAB or Quicken, and if you search online, you can find lots of different free tools to help you out.