Miss Day Three? Find it HERE.
So, you know what to stockpile and how to make your price list, but how much are you going to spend each month to build it?
How to Budget Your Stockpile
Budgeting is extremely important for all of your finances but especially important for your grocery budget. You do not want to get caught up in the momentum and spend your bill money on your groceries. Nor do you want to spend so much building your stockpile that you neglect to plan for other needs. So, set your grocery budget to include a set amount for building your stockpile.
$Need$ + $Stockpile$ = Total Grocery Budget
As your stockpile grows, you will notice that the $Needs$ amount you require will shrink. You can then use the remainder to go towards your $Stockpile$, debt reduction, or whatever.
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It is important that you spend the stockpile money ONLY on stockpile items. Do not be tempted to use it to go out to eat. Keep it set aside just for your stockpile. |
The best way to stay within your grocery budget is to use the Envelope System recommended by Dave Ramsey. Have one envelope for the needs portion of your budget and one for stockpile portion. Then, place cash in an envelope to help you stick to your budget.
As an added help, fill your stockpile envelope weekly, not monthly. This way, you are not tempted to spend it all in one week. You want to be able to watch the sales on a weekly basis.
Why shop with cash?
While it might not get you a PhD, I truly believe that shopping with cash makes you smarter or maybe it just makes you look smarter. Being challenged to do more with less helps you to make wiser choices. Are you going to spend $4 for a pound of potato chips or use that money to get two pounds of chicken breast?
Shopping with cash also helps you avoid impulse buys. You know that you only have “X” amount of cash and a sudden splurge would mean that you cannot get something you truly need.
Also, it is just more fun to shop with cash. You find yourself trying to stretch $20 as far as it will go. It feels more like a game and can become a (legal) addiction.
NOTE: If you are an IMPULSE SHOPPER, have a separate envelope for your impulse buys. It’s kind of like and allowance. But, be sure that your impulses are worth the price because when the envelope is empty, the fun is over.
Homework ~ Figure out your grocery budget remembering this equation: $Need$ + $Stockpile$ = Total Grocery Budget.
The Online Coupon Workshop continues on Monday. Special weekend homework… find a place for your stockpile!
, I receive a small commission but will not know what you purchased and it will cost you nothing extra. You can even use your gift cards. Thank you for supporting our family.)
