This year's goals:
- Spend less. Alot less. (over $500 less)
- Save up to purchase the following items for cash
- computer
- bed
- truck repairs
- Begin (and maintain) monthly saving for roof reshingling. (according to the plan, should be able to pay cash for the roof in Sept-Oct 2011)
These things can happen, but on a leaner budget. So, I took the shaver to our budget. ... then the knife. ... then the axe. After an hour, I had our spending down by over $500 monthly. It's going to mean sacrifices, but seeing the goals acheived is well worth it.
Our long term goal is to live debt free (mortgage free too), pay cash for what we want and need, and be able to use much of our income (half or more) for investing and giving. This year's budget will mark the start of some habits that will get us there. It looks like we'll be able to achieve this in 7-10 years. Not bad, especially considering our current debt load and the fact that we just bought this house!
The biggest budget cut was to our grocery bill. I hope to spend $300/month on our groceries. I've been spending $500. I KNOW I can spend less and we can eat just as well or better. It will require alot of planning on my part - meal and menu planning, and paying careful attention to each dollar I spend. It will require NO impulse buying (eek!), and creativity when supplies are low and there's no more money until next shopping day. (I think I can, I think I can, I think I can)
Other items on the chopping block were .. well, everything.
- Childcare
- Vehicle Maintenance
- Medical
- Clothing
- Household (ouch.)
- Entertainment
- Camping / Travel
- Tractor
- Eating Out (Big ouch!)
Okay. That's enough basking. ... and now to the work of it :)
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Hi! Thanks for visiting! I love to hear how you save money and time. Please share your tips, techniques and advice so we can all benefit and, hopefully, help each other to become better stewards of what we have :)