New Year's Challenge

[MarshDude]

Hi All!

Anyone doing any sort of new year's budget challenge? I've been reworking my budget to be able to do some saving for Disney trips. I'm single and live alone, so I was going to try to do the $100/month grocery budget challenge and see how that goes for January.

Anyone doing anything similar?

 

[MomToOne]

I've been budgeting carefully for years, so I really don't have much more to cut - what can be cut/I am willing to cut already has been. But I want to encourage you on the grocery budget challenge - for DD16 and I, I budget $120 every two weeks for pretty much 3 meals a day for both of us (DD and I both pack our lunches every day, and we don't eat out much). I have no problem sticking to that - in fact, I usually come in a bit under. We don't eat steak every night but we eat well enough!

(Note: My budget covers groceries only - paper products, toiletries, etc. I get at different stores and they come out of a different budget category.)

 

[TwoMisfits]

For 2016, I made the goal to only eat out once a week as a family (outside of vacation weeks)...and we 100% succeeded! And we did it without feeling like we went without...

I originally made the goal b/c we have had to tighten the belt more and more the last few years (we decreased cable/internet expenses, reduced gym memberships, did less paid kid classes, have no cellphones save a work one, etc) and I thought this was the easiest area at this point to decrease (we were going out 2-3 times/week for years, since I always had a day off from cooking). I mean, with a big family, with kids who are no longer kids for kid meals, each meal out, even at somewhere cheap like Olive Garden with everyone drinking water, is still $80+ (with tax/tip). And I promised myself that even with this goal, I would not sacrifice my time or my food desires to do it. So, I did tend to rely on one deli-type/prepared/frozen dinner main course (like deli subs, rotisserie chicken, frozen pizza, boneless wings, etc) with my simple fresh sides per week, so I could have a full day off.

It's worked so well, we are continuing this plan into 2017. While we are finally looking at an actual small raise this year, we also now have colleges coming in less than 5 years plus a new car to plan for in 2-3 years (we still have a 2004 car, having replaced our 2008 whose electrical blew up this year - the 2004 has no complicated electrical, thus it's alive and kicking), so I want to make sure all of that new money goes to those items...

 

[Disneyhayes]

We try to do groceries for $250/month for 4 of us. We are going to cut back on eating out and I need to cut back on my random spending

 

[colormegreen]

I'm trying to cut back on eating out. I don't want to say once a week, because we could go three weeks without going out to eat, but then the fourth week it's bad like five out of seven days out...I'm setting a dollar budget of $50.00 a month for my family of four (one which is a baby so really doesn't count), to eat out...my husband can go without fast food, and my kid can too...though he'll ask at times...it's me and lunch at work which will be a challenge...but I want to pay my debt and increase my saving for the down payment of a home.

 

[littlbugmom]

My goal is to save the money I normally spend on driving through Tim Hortons in the morning or some random lunches every week. I will normally spend $10 to $20 a week.

I'm going to:
1) take that money in cash every Monday and put it in our change jar
2) deposit the change jar money once a month into our vacation account

I need this to be tangible. I need to physically put the money into the jar. Otherwise, I'll revert back to my normal habit of not spending it there but turning around and spending it on something else.

 

[tvguy]

Never had much luck with budgeting. If I have set aside so much money for something, I feel like I have to spend it. I have much better luck just asking my self, "Do I really need this?" I sure spend less that way.

 

[Miss Whimsy]

I'm pretty good at eating cheaply at home so I'm thinking of doing a "no restaurant meals" challenge. Except for one thing with friends that is already pre-planned and one trip I'm taking, and that seems like a lot of exceptions to start with so maybe not?

I like the idea of doing a challenge right off the bat though because there's all this New Year's momentum.

 

[Disney_traveler]

I'm looking to keep a paper journal and do "no spend" days and keep up,with what I do spend. I'm going to try to cut back on my shopping. I have more clothes, shoes and accessories than closet space as it is. When I try to go through stuff, I find I still wear it all or it still fits and is in great condition, so no reason to get rid of it. I just need to stop....ouch....let's stick with cut back. Shopping is my hobby and happy place. It's relaxing and fun.

 

[MarshDude]

I've been budgeting carefully for years, so I really don't have much more to cut - what can be cut/I am willing to cut already has been. But I want to encourage you on the grocery budget challenge - for DD16 and I, I budget $120 every two weeks for pretty much 3 meals a day for both of us (DD and I both pack our lunches every day, and we don't eat out much). I have no problem sticking to that - in fact, I usually come in a bit under. We don't eat steak every night but we eat well enough!

(Note: My budget covers groceries only - paper products, toiletries, etc. I get at different stores and they come out of a different budget category.)

Thanks for the encouragement! Today is day 1 of doing the challenge!

 

[MarshDude]

Thanks for all the replies everyone! I've decided to go for it and today is Day 1!

I started by looking at grocery store flyers online and planning out meals for the week. The biggest sale that I could find was at Aldi, where 3lbs of ground turkey was on sale for $6! I ended up planning most dinners around having the turkey. The sticky widget in the plan today, though, was that ALDI WAS CLOSED for New Years Day!!! So sadly, no turkey, but I did get the rest of my shopping list at Market Basket. Today's haul is pictured below:

Overall the total was $16.15. I need to go to Aldi to get the ground turkey and a produce item, which should put me right under the $25 mark.

 

[FairestOfThemAll37]

I'm trying to cut back on my Starbucks tab. Unfortunately, there's no instantly cheap way to do this. Cutting back means a heafty up front cost. It's so hard for me to make cuts like that when I won't see any actual savings for about a year give or take. Sigh.

 

[TwoMisfits]

I'm trying to cut back on my Starbucks tab. Unfortunately, there's no instantly cheap way to do this. Cutting back means a heafty up front cost. It's so hard for me to make cuts like that when I won't see any actual savings for about a year give or take. Sigh.

Are you looking to change to a Keurig?

 

[Disney_traveler]

I'm trying to cut back on my Starbucks tab. Unfortunately, there's no instantly cheap way to do this. Cutting back means a heafty up front cost. It's so hard for me to make cuts like that when I won't see any actual savings for about a year give or take. Sigh.

I kinda wish I had that problem.....nearest Starbucks is 45 minutes away

 

[plutosbuddie]

Hi All!

Anyone doing any sort of new year's budget challenge? I've been reworking my budget to be able to do some saving for Disney trips. I'm single and live alone, so I was going to try to do the $100/month grocery budget challenge and see how that goes for January.

Anyone doing anything similar?

I am trying to rework some things out of my budget to add a little Disney magic back in

I think our situations are close.. But I am paying for backcountry flying lessons to become a wildlife pilot.. So it's already on the savings heavy side. Trying to cut out my Starbucks and eating out..

However I think my next (first) solo trip to wdw I wanted dabble in renting DVC points which works out to be a much better deal on lodging!! I can deal with no room service, I'm not messy

 

[FairestOfThemAll37]

Are you looking to change to a Keurig?

I'd have to change to an espresso machine and for me to realistically use it everyday it would need to be at least a semi-automatic machine. Sadly, this is where the high upfront cost comes in.

 

[TwoMisfits]

I'd have to change to an espresso machine and for me to realistically use it everyday it would need to be at least a semi-automatic machine. Sadly, this is where the high upfront cost comes in.

I love grande vanilla cappucinos from Starbucks, but I learned to live with Caribou or Starbucks K cups brewed with bottled natural water (the water I find makes the biggest difference, especially if you have hard water) - I get them on sale for about $.40-$.45/cup, the bottled water is about $.07 (1/2 a bottle) and then add a touch of milk and sugar for a $.55 once a day habit. Not quite as good, but $5/cup vs $.55/cup made me much happier. I now only indulge the Starbucks on vacation and by then, I've usually found a 50% Groupon or gift card deal so it's $2.50/cup...still way too high, but it's vacation...

 

[FairestOfThemAll37]

I love grande vanilla cappucinos from Starbucks, but I learned to live with Caribou or Starbucks K cups brewed with bottled natural water (the water I find makes the biggest difference, especially if you have hard water) - I get them on sale for about $.40-$.45/cup, the bottled water is about $.07 (1/2 a bottle) and then add a touch of milk and sugar for a $.55 once a day habit. Not quite as good, but $5/cup vs $.55/cup made me much happier. I now only indulge the Starbucks on vacation and by then, I've usually found a 50% Groupon or gift card deal so it's $2.50/cup...still way too high, but it's vacation...

I'm pretty sure I've tasted about every K-cup on the market and just can't get past the taste. Even great brewed coffee isn't really the same as espresso; it just isn't a viable substitute for me.

Haha, I've tried and do not usually last a full week before I've caved and back paying retail for my fix. I do appreciate the suggestion.

 

[Iowajes]

I'm doing the Frugalwoods (http://www.frugalwoods.com/) Uber Frugal challenge. Last year we saved 54% of our net (edit: sorry, gross. Not net) income, and I want to keep that number the same or higher even adding in another daycare payment, so we are trying to cut anything we can (though not much low hanging fruit is left).

Was a bit sad this morning when I realized it meant I couldn't get the Target beauty boxes, as they looked great.

 

[Iowajes]

I'm pretty sure I've tasted about every K-cup on the market and just can't get past the taste. Even great brewed coffee isn't really the same as espresso; it just isn't a viable substitute for me.

Haha, I've tried and do not usually last a full week before I've caved and back paying retail for my fix. I do appreciate the suggestion.

We have a counter top espresso machine at home. We set it on a timer so it starts heating up the water when we wake up. It only takes a few moments to make the shots and steam milk in the morning, and saves a ton. Been doing this daily for 10 years.