So frustrated with our finances right now.

[kamik86]

So I just went through the budget for this week and we over spent by
$100 Last week it was $200.

Now we aren't really in debt. Technically we can afford what we are spending. But we aren't getting any savings. We will manage to have the money for our vacations we have planned and for expenses. But there won't be any real savings. I feel like we should be saving alot more. I feel like the budget we have on paper that both DH and I look at and think should work should be working and we should be saving... but we are always over and the saving covers that.

I am blessed to have a job that pays really well. But I feel we are squandering it. I spent a embarrassingly high amount of money on clothes two weeks ago. My DH spends probably $100 a month on comic books but those two I can deal with because we have our "fun money" accounts and in general manage to stay in them (DH is always a bit in the red but he is one of those people that if you give him $5 he will spend $5 even if he only wanted something worth $2.)

The big problem though is food. We have a budget of $1000 a month for what we call "variable expenses" but really its gas for the car, food, and general household stuff (paper towels, toilet paper, etc). The gas is about $40 a week. Which means we are spending over $800 a month on food. More since we are always going OVER the budget!! Oh and there are only two people we are feeding here.

I feel like we should be doing so much better on this part.

So do people have any tips for me on how to spend less on food? I'm trying to eat healthier too... When I just give up and we eat out all the time we actually do much better... when I'm trying and only doing ok like that week then we really blow the budget. Almost $100 was eating out. Although about $50 was from one trip we always do on Friday's. The rest was littler bits at a time (Subway, Wendy's, Papa Ginos, and panera bread).

Then there was $102.53 in grocery stores... but all in little chunks 6 separate trips.

I guess I just feel overwhelmed. I know we used to spend much less on food 3 years ago before I got this job and yet until I saw it all on paper today I had thought we really did good last week.

 

[richmond282]

How in the world do you spend $1000/ month for the 2 of you to eat? We are a family of 3. I budget $320 a month for groceries and $100 for eating out. We usually stay well under that.

I guess you have to ask yourself: Do you want to do more cooking at home? Where exactly is the money going? If you do want to eat at home, why don't you? Find some recipes you like and fix them ahead of time so all you have to do is heat and serve. Shop the sales. Clip coupons. I don't know where you live, but there are several blogs that match up the coupons and sales for you to help you get hte most out of your money. Good luck!

 

[ilovepete]

I'm wondering what you are buying for food, too. We spend under $300 a month for a family of 4 at the grocery store. Then $100-$200 eating out on the weekends for the month.

 

[ssawka]

Can't really help with groceries, but as far as eating out, take advantage of coupon sites like restaurant.com, groupon, eversave, etc.

 

[Dismom55]

You really do need to sit and make a budget and stick to it. Make putting together meals a together thing as a couple and less eating out. Plan meals, make a list, make a grocery budget and go shopping together and get a handle on where your money is going and pay your savings account first otherwise you will be very sorry in later years, especially later if and when kids come along. This is your time to save for your future. Have fun yes, but keep in mind you will regret not saving for those future years if you spent it all now. It sounds like you spend more in extras than I do my entire budget, pay my mortgage, buy groceries, pay all the bills and put away some for future Disney trips. While I would love to have that kind of money, I can not imagine spending more than $350 a month for food for the 3 of us. (Includes eating at the local buffet). I do not want to sound preachy or grumpy with you, just a word of caution, if you intend to have kids, that kind of spending will backfire quickly and while you are young, I would hate to see you get in over your head and see kids suffer for bad habits made now.

Good luck and really set a budget and stick to it, paying the savings account first. Just imagine how good you will feel as it grows.

 

[poohguys]

We usually try to stay at about $100 a week for 2 adults and a growning (non stop eatting) 11 yr old. We all bring lunch to work/school every day. Get pizza every Friday night for dinner. Plan what you need for the week. Try to plan dinners around what is on sale that week. Use coupons. Our store doubles them if they are under $1. I find taking the caculator to the store with me and adding up as I go along keeps me from buying items not on the list.

Eatting lunch/dinner out adds up quick!

 

[Reddy]

have you looked at your reciepts & see what you are getting that isn't on your list??
maybe make a menu up before hand would help you

I don't see how you are spending that much on eating - there has to be other things in there or you are buying too many quick & easy that go bad quickly things or you are eating way too much

 

[Zhoen]

Step 1- you're already tracking your spending, sort of, that's GREAT!

Step 1b- track it closer. Instead of saying "we spend $1000 and only $160 of it was gas, so the rest must be food", start saving ALL your receipts and really watch it. Put a basket right inside the front door to drop your receipts in and really watch it closely for a while.

I was really surprised to find how much I was spending on entertainment, when I would have told you I was the least entertained, most bored person in the world!

Also, you mentioned that you are on track for saving for goals like a vacation, but your "long term" savings never happens. I'm guessing that's because you either don't have a number planned per paycheck or because you are planning to set aside "whatever's left over" and there isn't any. Perhaps you might consider making your long-term savings the mandatory, pay-it-first savings, and use the "whatever's left over" for your vacation? That way there's a fun reward for meeting your budget, and soon. It's hard to resist the new clothes now to save for a retirement that you can't begin to really imagine...

 

[rachel09985]

We are kind of like you. Same age and we can afford everything but we aren't saving ANYTHING which is sad and embarassing. I am like you husband- I will spend all of the money I have even if I shouldn't.

I feel for two people it is honestly cheaper sometimes to go out for dinner than to cook and especially to cook healthy! We dont drink but do eat out a lot. We go for happy hour though- that is what I would consider, just going for happy hour and getting an appetizer as your meal.

 

[Mommee]

$100 at the store
$100 eating out
$600....where?

 

[ekatiel]

I would recommend breaking up your "variable expenses" budget into smaller sub-categories. For a month or two, save all your receipts and track how much you spend on different items. Then, set a reasonable budget for those items. For the items you mentioned, we have about four or five different budget categories: groceries, gas, restaurants, home maintenance, and a miscellaneous fund (usually stuff we need from Walmart that's not in another category or stuff I have to pay for at the kids' schools, etc). Also, it helps to have the savings drafted out of the account each month-- you can't spend what's not there!! I think you're going to be surprised when you save receipts and see where the money's going. It may not be on food at all. Good luck with figuring it out! --Katie

 

[kamik86]

Step 1- you're already tracking your spending, sort of, that's GREAT!

Step 1b- track it closer. Instead of saying "we spend $1000 and only $160 of it was gas, so the rest must be food", start saving ALL your receipts and really watch it. Put a basket right inside the front door to drop your receipts in and really watch it closely for a while.

I was really surprised to find how much I was spending on entertainment, when I would have told you I was the least entertained, most bored person in the world!

Also, you mentioned that you are on track for saving for goals like a vacation, but your "long term" savings never happens. I'm guessing that's because you either don't have a number planned per paycheck or because you are planning to set aside "whatever's left over" and there isn't any. Perhaps you might consider making your long-term savings the mandatory, pay-it-first savings, and use the "whatever's left over" for your vacation? That way there's a fun reward for meeting your budget, and soon. It's hard to resist the new clothes now to save for a retirement that you can't begin to really imagine...

We do have to follow it better. The worst ones are the walmart and target stuff that I can never remember what I spent on by the time I go to do the budget at the end of the week.

There is definitely other stuff in there. Starbucks coffee. A little table we got for outside when we grill. all toiletries and cleaning items. So there is other stuff in there.

One of the problems on food is that we will buy stuff and then I'll get stuck at work late and by the time we get home no one wants to cook or we are really hungry and don't want to wait until we drive 45 min from the area of the office THEN start food so we get something out. Of course then we end up with wasted food we bought for the week because it goes bad.

 

[rachel09985]

If you have an iphone, or maybe any smart phone, download mint.com. It is a great app to track and i started using it but stopped

it brings in all of your payments through debit card and categorizes them, allthough not that great.

 

[QVCshopper]

Do you save any money, such as in a 401k (especially if you have an employer match)? I think it's important to do that, and you also want to have an emergency fund because something always comes up.

I think you both should write down your goals: house, family, car, etc. and see how much you want to save each month to get there. Just because you have money doesn't need you need to spend it.

 

[QVCshopper]

One of the problems on food is that we will buy stuff and then I'll get stuck at work late and by the time we get home no one wants to cook or we are really hungry and don't want to wait until we drive 45 min from the area of the office THEN start food so we get something out. Of course then we end up with wasted food we bought for the week because it goes bad.

To stop the waste, switch to more frequent, smaller food shopping trips. I don't keep much in my fridge, and there are five of us. I have about a week's worth, maybe less, and I freeze meat and take it out in the morning. But, I have o say we waste very little. We don't need huge stockpiles--there are five grocery stores within a few miles of my house.

Oh, and go into Walmart or Target with a list and stick to it. Otherwise, don't go there for recreation until you can control impulses--I like to look at their clearances, but have walked out with nothing quite a few times.

 

[kamik86]

$100 at the store
$100 eating out
$600....where?

The 100 eating out and 100 at the store were last week. $800 is for the entire month.

I few mentioned retirement savings. That is taken out of our paycheck directly. I have over 26K in savings already (at 25) and my husband has a retirement account too (his has less though).

It is saving for a house that we haven't been able to do.

 

[kamik86]

To stop the waste, switch to more frequent, smaller food shopping trips. I don't keep much in my fridge, and there are five if us. I have about a week's worth, maybe less, and I freeze meat and take it out in the morning. But, I have o say we waste very little. We don't need huge stockpiles--there are five grocery stores within a few miles of my house.

We have tried to do this in the past but I find that we never remember to take the stuff out the night before and if we take it out that morning that it isn't fully thawed in time.

Small trips have the problem of sometimes causing us to buy more then we meant to.

 

[ekatiel]

We have tried to do this in the past but I find that we never remember to take the stuff out the night before and if we take it out that morning that it isn't fully thawed in time.

Small trips have the problem of sometimes causing us to buy more then we meant to.

Have you ever tried a crockpot? Some of my favorite recipes don't even involve defrosting (I am HORRIBLE at remembering to defrost)-- you just throw frozen chicken or pork chops in there with a couple of other items, and you've got dinner made! Also, I try to stay out of Walmart and Target. I even buy my Laundry detergent, etc at the grocery store. I know it costs a bit more to buy them there, but I actually save money by keeping my butt out of Walmart !! --Katie

 

[QVCshopper]

The 100 eating out and 100 at the store were last week. $800 is for the entire month.

I few mentioned retirement savings. That is taken out of our paycheck directly. I have over 26K in savings already (at 25) and my husband has a retirement account too (his has less though).

It is saving for a house that we haven't been able to do.

You're doing good with retirement then. You just need to find a way to reign in your spending--I like the receipt way mentioned above and the separate categories.

I like finance and budgeting--we paid off our house by the time I was 30--just over five years ago. Mostly we did that by staying well below our means. Neither my DH nor I make what I'd consider a high income, but we can stretch a dollar and it's a fun daily challenge. Use coupons, food plan--maybe cook on the weekend, just do without. Save now before you have kids; I hardly spend anything on myself now and between housing stuff and cars and children, it's trickier now to save. I'm glad I started when I was 22 and first married.

 

[cornflake]

This all sounds like a problem with impulse behaviour more than anything else.

You buy stuff but don't remember what, buy food but don't remember to take it out and then are too hungry to wait or don't want to cook...

First, stop taking cards with you, ANYPLACE. Switch to cash only for a while and see where it gets you. Set a budget, say $150 a week for ALL food and shopping items, in cash, in an envelope, and neither of you are allowed to take anything else out. Take like, $20 each or whatever for incidentals and go on a bigger shopping trip together or plan a bigger trip and one of you goes and takes the cash you need, no more and NO CARDS.

Whenever either of you spends anything, the receipt for it goes back into the envelope that the money came out of. ANYTHING. If you buy something at Starbucks, the receipt goes into the $ envelope. If you buy a candy bar from the vending machine, write out a little 'candy bar from vending machine, $.75' and put it in.

Also, do stuff like buy a pack each of individually packed plain nuts or small packets of trail mix or granola bars or whatever, and stick them in your cars. If you get out of work hungry, have a little packet of nuts (Trader Joe's and lots of other places sell these, they're like an ounce or so in individual packets) or a small granola bar to hold you until you get home and make dinner.

Plan your first shopping trip with a week's meals in mind. You don't have to plan each meal if you don't want, but get stuff that's versatile that you can use for a bunch of things that you like.

As for stuff at Target or whatever, before you go in, make a list of what you NEED.

If it's not on your list, tell yourself you can still buy it - in 24 hours. Wait and see how little of the crap you remember and want after the day has gone by.

Start with just CASH. Also, for savings, take the issue out of your hands. You have retirement savings because it's automatically deducted before you can touch it. Find a vehicle like Betterment or some other such thing and set an automatic monthly deduction from your checking accounts, each of you. Even if it's $200 a month, or $100 every two weeks, it'll add up quickly and if you stick to the all cash thing, you'll have the overage anyway.