Budgeting Archives - Page 2 of 3

How To Stop Overspending

June 8, 2021 By: Sweet Frugal Life8 Comments

Overspending Triggers and Solutions.

Some days I feel like my spending habits are right on point. I am sticking to my budget, spending wisely, and stashing lots of money away into savings…….But then, I have other days when I just STRUGGLE and completely forget how to stop overspending!

I find myself shopping impulsively, buying things without even checking the budget and using a “I want it, so I get to have it” mindset. Does ANYONE else have this happen????

Obviously I know I shouldn’t spend this way. Yet, I tend to ignore the voice of reason and spend.

I have learned that these overspending urges are usually the result of a trigger. SOMETHING going on in my life (usually emotionally for me 😉 ) that causes me to want to overspend.

True Story….

The other day I got that urge to SPEND. Like, really really spend. I wanted to buy decorations for my home and I wanted to buy myself a few new shirts and I wanted to go out to eat and I wanted to take my daughters on a back to school shopping spree.

Fortunately, I was able to stop myself from spending this time, but I found myself wondering “What caused this spending trigger? Why am I feeling the sudden urge to spend, when I know better?”

In this particular moment I was feeling frustrated; frustrated by my budget, and frustrated with the amount of money I am “allowed” to spend each month.

I just wanted to throw the budget in the garbage and show that budget who’s boss. I wanted to prove that I can spend what I want and when I want!

Related: How to Make a Zero Based Budget

This is not healthy! I need to be friends with my budget! I knew then that something needed to change.

As a parent, I tend to always budget money for my kids instead of budgeting money for me. Which I am HAPPY to do for them, but I was limiting myself to much. I realized that when I am to limited, I get tempted to spend.

So, I decided to change my budget. Next month I will be budgeting more money for my personal spending money. I am hoping that by doing this it will eliminate that trigger and will help decrease the spending urges.

We all have different spending triggers and recognizing these triggers is the first step in learning how to stop overspending.

Today I am going to share with you a few overspending triggers and and the solution to go with it! I encourage you to pick out a few of your personal spending triggers and come up with a solution to help you overcome it.

How To Stop Overspending

The first step to stop overspending is to recognize what triggers you to spend money. Here are a few suggestions of situations when you might be tempted to overspend.

1. Spending Trigger: Boredom

Maybe your spending trigger is boredom. You might find yourself stopping by stores or browsing online just because you need something to fill your time. You are using shopping as a form of entertainment, rather than as a means of buying things that you need.

Solution:

The best way to stop shopping for entertainment is to find a new (cheap) hobby. Find something that will fill up your spare time and give you a sense of purpose. If you need some accountability, ask a friend to join you in this hobby.

A few cheap hobbies include: running, biking, walking, painting, sewing, crafting, reading, baking, etc.

You could even turn your hobby into a side hustle and have it make you money! Here are a few side hustle ideas to get you started.

2. Spending Trigger: Lack of Confidence

Many people shop because they are struggling with a lack of confidence. You know the phrase, “keeping up with the Joneses” is a real true sentiment. It’s so easy to look at your neighbors, friends, and others around you and feel like you want to dress like them, look like them, and have what they have.

Unfortunately, this feeling of trying to keep up causes us to overspend and buy items impulsively. If you find your confidence growing with each new purchase, this might be one of your triggers.

True Story:

Many years ago I went shopping with my sister in laws on Christmas Eve. They had a few items they still needed to buy for Christmas, so I joined them at the store. I had all of my Christmas shopping done, but was going along for moral support.

Well, as they shopped and I watched what they bought for their kids, I started feeling insecure about what my kids were getting that year for Christmas.

So, I started impulsively grabbing this and that, trying to keep up. I began lacking confidence in my previous gift choices, and so spent more than I should have.

Solution:

It’s so important for all of us to develop true self confidence. We need confidence that doesn’t stem from the size of house we live in, the clothes we wear, or the amount of things we own.

Try reading a few self help books from the library to help you learn more about growing your own confidence.

The next time you want to buy something ask yourself, “Am I buying this because it will make me feel better about myself or because I need it?” This self reflection can really be helpful in making smart money decisions.

3. Spending Trigger: Shopping as Therapy

Do you find yourself at the store on the day you are feeling upset or emotional about something in your life? This is one of the most common shopping triggers.

Shopping can give us a short sense of euphoria, making those really tough emotions temporarily disappear.

Solution:

Find a new way to deal with your emotions. You might want to go for a run or walk. Or maybe call a friend and vent to them for a few minutes. Turn on the TV and watch your favorite movie. Find something to help you get through the rough moment, that doesn’t involve spending.

I have found when I am feeling emotional a nice long hot bath really helps me relax and forget about the stressful day.

Related: 9 Ways to Kick The Emotional Spending Habit

4. Trigger: Jealousy

Do you get jealous when you see things that your friends or family members are buying? Or maybe all of the social media influencers you follow seem to live a “better” life than yours, so you buy what they have to try to keep up?

I think most people feel like this from time to time, and it is a very similar trigger to lacking self confidence.

Solution:

Honestly, I think the first step to combating jealousy is to develop self confidence in yourself. While you are working towards this it’s totally OK to distant yourself from the friends you are jealous of.

I have totally unfollowed friends and influencers on social media before because their posts were making me jealous and tempting me to spend.

Try to find a few frugal friends to lean on when you are feeling weak. Use these frugal friends as your examples of a beautiful life.

5. Spending Trigger: Sales

One of my personal biggest spending triggers is sales. I LOVE a good sale. But, if you are buying something just because it’s on sale, you are using sales incorrectly!

Solution:

One of my frugal rules is: There Will Always Be Another Sale. Always. This is important to remind yourself of often. So, the next time you are tempted to buy something because “it’s such a good deal,” remember that there will be another good deal. There is no reason to buy something and overspend in your budget just for that one deal.

Another great tip is to delete your e-mail from all store databases. This means they won’t be sending you the flashy emails announcing each and every sale. If you don’t know about the sale, you won’t shop at the sale! Problem solved!

6. Spending Trigger: Friends

How many times has a friend invited you to do something that would cause you to overspend on your budget?? I think this happens to everybody at one point or another.

It’s hard to say No to friends. We don’t want to hurt their feelings or have them take it the wrong way….so often we end agreeing to do things that we can’t afford.

Solution:

Be up front with your friends. Tell them your spending limits and the activities that you will be able to or won’t be able to participate in. Kindly ask them to stop inviting you to the activities out of your budget. But then, in return make sure you invite them to frugal friendly activities so they understand their friendship is important to you.

I truly believe if they are a TRUE friend they will respect you and your budget limits.

In Conclusion

Every single person on this planet has multiple spending triggers. We all experience these temptations. However, it is up to us to figure out how to stop overspending and ignore the triggers.

Fix Your Budget After a Day of Impulse Shopping

How To Stop Impulse Buying For Good

How NOT to Be Frugal

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I hope this helps you to know how to stop overspending.

What is an Emergency Fund, FAQ

May 2, 2021 By: Sweet Frugal Lifecomment

Today I am explaining exactly what is an emergency fund and why you need one.

One of my most asked questions is, “What is an emergency fund?” This is such an important question that I wish everyone would understand more. An emergency fund is something that every single person needs and I want to help you understand how to get one.

I know that it’s not fun to plan for financial emergencies, it’s much more fun to plan for the fun expenses (like a new car or big house).

However, the truth is that nobody ever regrets having an emergency fund….but I know many who regret NOT having one.

This article is answering all of the most asked questions about emergency funds, so you can start making one for yourself.

What is an Emergency Fund?

Not sure what an emergency fund is? It’s simple really. An emergency fund is money you have saved and set aside to be used in the case of an emergency.

This is money that you won’t touch unless you really have to. It should never be used for fun things, weekend vacations, etc.

Who Needs One?

Everyone needs an emergency fund (yes, everyone)! It doesn’t matter if you earn a million dollars a year, or are deep in debt, you should have money saved for emergencies. Don’t ever fall into the belief that an emergency won’t happen to you. Emergencies can (and will) happen to anyone at any time.

The amount in the fund will look different to everyone, based on circumstances and needs, but the fact that we all need, one stays the same.

Why Do I Need An Emergency Fund?

You need an emergency fund because it gives you a safety net for any financial burden that might arise. This could be a job loss, large medical costs, or unexpected home repairs.

If you already have planned ahead and saved money for these hard moments, have this money saved and set aside the burden will be lessened. We have used our emergency fund multiples times! We used it when my husband suddenly lost his job, when I had a medical emergency, and during an unexpected move.

Every time we have used money from this fund I have felt so grateful we had one it saved, but also developed the desire to save even more. There is no better feeling than having money in the bank. That form of safety is vital to me and our family.

When Should I Use Money From This Fund?

Deciding an appropriate time to use your emergency fund is very important. This is your hard earned money and should only be used carefully and wisely.

Never use your fund for anything other than what it is meant for, an emergency! Christmas gifts, traveling, and taxes are not an emergency, you should set up a sinking fund for these types of expenses.

When deciding if you should use your emergency fund ask yourself these questions:

Is it an Emergency?
Is it Unexpected?
Is it Necessary?

If you can answer yes to all three of these questions, than it is an appropriate time to use your emergency money. If you answered No, than do not use it. Instead come up with a different way to fund your expense.

What If I Feel Guilty?

I’m going to be honest with you, I really struggle using my emergency fund. For some reason it makes me feel guilty.

If you’ve ever felt this way before, know that you are not alone. If you are feeling guilty for wanting to use this money for emergencies, remind yourself that it is OK, this is what the fund is for! You have been responsible in saving money, and it is ok to use this money when the time is right. It is there to USE, when you need it.

But, be sure to replenish the fund after your emergency has passed.

How Much Money Do I Need Saved?

The amount of money needed for emergencies will vary from person to person. A good rule of thumb is to have at least 6 months-1 year of living expenses set aside for emergencies. This is quite a bit more than others recommend, but I would rather you have to much than not enough.

When my husband unexpectedly lost his job, people kept telling us he would find a new one in a few weeks. 7 long months went by before we were finally receiving a paycheck again. Having that emergency fund in place brought us a lot of peace and comfort. If we had only of saved for 3 months, we would have been even more stressed and in a bad place.

What are Living Expenses?

Wondering what exactly you should calculate when deciding on your living expenses? Living expenses are the expenses that you need in order to live and survive. These will include housing costs, utilities, food, clothing, insurance, gas, and any other basic needs.

You do not need to add extras such as traveling, eating out, etc. If an emergency arises you will not be traveling, so there is no need to save for it.

Where Should I Keep This Fund?

An emergency fund needs to be kept in a place easy to get it. This fund is liquid, meaning you can access it in short notice.

I prefer to keep our emergency fund in a savings account or money market account. Whatever you do make sure you do not put this money in the stock market.

In Conclusion

I hope this article helped you to understand everything you need to know about emergency funds! Let me know if you have any questions! I am always here to help!

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Now that you know what is an emergency fund, go set one up!

How To Find Extra Money In Your Budget

April 10, 2021 By: Sweet Frugal Lifecomment

What you can do to have more money each month.

How would you feel if I told you that it’s possible for you to have an extra $300 each month? It will not require getting a new job, getting a raise, starting a side hustle, or selling anything. Sounds pretty good, right??? However, it might require a little bit of time and sacrifice. Would you want to know more details? Well, I’m going to give them to you! Today I am sharing exactly how to find extra money in your budget with these two strategies.

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1. Analyze Your Fixed Expenses

The first strategy to having more money in the budget each month is to analyze your fixed expenses. Your fixed expenses are the item in your budget that you have to spend money on each month and usually stay the same. Common fixed expenses are rent, mortgage, utilities, etc.

I encourage you to look over your fixed expenses FIRST, because these are often the expenses most people think can’t change. But, they can!

Make a list of each of the fixed expenses you pay each month. Once you have made your list I want you to put a star next to the items you believe you can lower.

Here are a few examples of fixed expenses that you might be spending to much money on:

Insurance: The great thing about insurance (and I’m talking ALL insurance, home insurance, car insurance, life insurance, etc.) is that you can shop around to many different providers and agents. First, call your current insurance agent and explain to them that you are wanting to find a way to lower the cost. Ask politely if there is anything they can do to decrease the amount you are currently paying.

Next, call a few different insurance providers and ask them for a quote. After you have a few different insurance quotes you can then make the decision of whether you would like to switch to a new provider, or stay where you are. Either way, the amount you are paying should be decreasing. If your current agent wasn’t willing to lower the rate, it might be a good time to switch to someone new. In many cases you might find the best deals by having your car insurance with one company and life insurance with another.

Cell Phone: A monthly cell phone bill can get expensive fast, fortunately there are cheaper options out there. Look into a few alternative cell phone companies, such as Tello Mobile or Red Pocket Mobile. We have used both of these and were so impressed with the high quality service and super cheap rates.

Related: Frugal Cell Phone Provider; My Honest Tello Mobile Review

Cable TV: Still paying for cable? That’s OK, you’re not alone. But, this is one of the easiest fixed expense to cut. Cancel your cable and replace it with one, maybe two, streaming services. Look into Prime Video, Netflix, Hulu, YouTube TV, Disney+, Paramount+, etc. until you find the right fit for you.

Internet: If you haven’t negotiated the price of your internet yet, I suggest you do so now. If you have been a loyal internet customer, they will usually work with you in lowering the price. All you have to do is ask!

Related: 5 Bills You Should Negotiate

Utilities: Try to come up with a few strategies to decrease your utilities costs. This might include fixing seals on doors and windows, turn your thermostat up or down a few degrees (depending on the season), taking shorter showers, etc.

If you are needing some more tips be sure to check out my two articles; How To Lower Utility Bills in Winter and How To Lower Utility Bills in Summer.

Monthly Subscriptions: What are the subscriptions you are paying for each month? Your subscriptions might include your TV streaming subscriptions, magazines, beauty boxes, gym membership, music subscriptions, phone apps, meal plans, etc.

Choose one, two, or maybe even all of those subscriptions to remove from your budget.

One thing that has helped me with subscriptions is to put them on a rotation. For example, if I currently have a Netflix, Disney+, FabFitFun, and IPSY subscription, I will choose 2 of them to keep and cancel the rest.

After a few months of using the subscriptions I kept I will then cancel those and renew 2 more. I keep rotating my favorite subscriptions so that I can enjoy all of them throughout the year, but only paying for a few of them at a time.

Here is a quick example of what a rotation schedule might look like:

January-June: Pay for FabFitFun and Netflix.

July-December: Pay for IPSY and Disney+.

2. Analyze Your Variable Expenses

The next step to finding extra money in your budget is to reduce your fun spending. After you have examined your fixed expenses, it’s time to look at your variable expenses.

Variable expenses are the expenses in your budget that change month to month.

Take out your list you made of your Fixed Expenses. Now, I want you to add all of your Discretionary Spending categories to the list. Look at each of the things that you spend your money on closely. Put a star next to the items you think you can spend less on.

For example, your updated list might look like this:

Fixed Expenses

Rent
Insurance*
Car Payment
Cell Phone*
Cable TV*
Electricity*
Water*

Variable Expenses

Groceries*
Clothing*
Entertainment*
Gas
Eating Out*
Travel*

In many instances variable expenses are HARD to cut from the budget, because it is usually the spending that makes life a little more enjoyable. I’m hoping to show you a few not so difficult tips for decreasing your fun spending.

Eating Out: How often do you go out to eat for lunch or dinner. Are you constantly stopping and buying a Starbucks or other treat on your way to work?

I challenge you to cut the number of times you eat out a month in half.

So, if a normal week for you includes 5 Starbucks, 3 fast food lunches, and going out to dinner twice, cut that in half to: 2 Starbucks, 1 fast food lunch, and out to dinner once in a week. You can do it!!!!

Groceries: I know that we all have to eat, and groceries are a part of life. But, are there some things you can do to lower the amount of money you spend on groceries each month? I bet you can!

Take a look at my article, 10 Quick Ways To Lower Your Grocery Bill, to find a few tips for spending less. Choose one (or all) of the tips in the article to start implementing into your grocery routine.

Clothing: Another common variable expenses is clothing. If you don’t need any clothes at this time, avoid going to any clothing stores or browsing online clothing stores.

However, if you are needing some new clothing items, shop at discount stores, such as Ross or thrift stores, like ThredUp for the clothes that you need. You can find good quality clothing, for a fraction of the price, if you are willing to change where you shop.

Related: How To Save Money On Kids Clothes

Entertainment: If you are looking for how to find extra money in your budget, entertainment is usually a good place to look. There are SO many cheap ways to entertain yourself and still have fun.

Rent a movie instead of going to one. Check out books from the library instead of buying them. Invite friends over for a pot luck dinner instead of going out to eat.

When choosing cheaper forms of entertainment, be willing to try new things and get creative. You just might find a few new favorite hobbies!

Related: Cheap At Home Date Night Ideas

Travel: Do you love to travel? I do too! As a matter of fact I love it so much that we consistently contribute money each paycheck into our travel sinking fund.

If I was needing extra money though, travel is something that can be made cheaper. For example, plan a staycation instead of going somewhere. Look for fun (cheap) activities you can do around your hometown so that you don’t have to pay for flights or hotel accommodations.

We love contributing to our Travel Sinking Fund, but if something came up where we needed more money in our budget, this is one of the first things we would cut.

Related: The Best Budget Travel Tips

Finding Extra Money In Your Budget

Now that you have examined your budget closely, and made a list of a few expenses you can decrease, it’s time to put it into action. Look at the items you have placed a star beside on your list. Using the tips I shared above, choose a few of your starred expenses to spend less on this week.

Keep implementing your plan even on the weeks it feels hard. It won’t always be easy to change your spending habits, you will get spending urges! Fortunatly, spending urges pass if we wait, so be willing to wait out those urge and remember your big money goals.

Now that you are spending less in both your variable and fixed expenses, you should have some extra wiggle room in your budget. Make sure to use that money we found wisely, hopefully to pay off debt, save for your future, or another important expense.

You got this! I believe in you!

How To Budget With An Inconsistent Income

Fix Your Budget After a Day of Impulse Shopping

How To Stop Impulse Buying For Good

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I hope now you understand how to find extra money in your budget.

Easy Budget Cuts We Made To Save Over $2500 Each Year

April 8, 2021 By: Sweet Frugal Life34 Comments

What we did to save more money each month.

I am not naturally a frugal person. I was raised by two frugal parents, but I lean more towards wanting to shop and buy all of the pretty things (I’m looking at YOU Target). It has been a huge learning process for me to become more frugal and to realize the value and beauty in cutting back and saving money. Learning my new frugal lifestyle has been over the course of years, and quite honestly, I’m still trying to better myself. Today though, I started thinking about all the easy budget cuts we made over the years, and I was blown away with the amount of money we are saving ourselves just by making a few different lifestyle choices! If you don’t know what to cut from budget, this article is for you! I truly hope it helps you learn how to reduce monthly expenses.

Pack Your Lunch: $1000

Packing a lunch for work, instead of eating out with coworkers, has been our biggest money saver. Every night I pack a lunch for my husband to take to work. A packed lunch doesn’t need to be anything special or fancy. Most days it’s just leftovers from dinner the night before, occasionally he will bring a sandwich.

It’s important for my husband to be sociable and build strong relationships at work. So, a few times a year he will bring some cash to work and go out to eat with his coworkers. There has been a few times he has joined them for lunch, and ordered something small. You can keep these strong relationships, while bringing a lunch from home.

I was so surprised to find out this simple habit is saving us over $1000 a year!

Related: How to Save Money When Eating Out

Change your own oil: $210

The second easy budget cut we made to reduce monthly expenses was to change our own oil.

My husband taught himself how to change the oil in our two vehicles, all it took was watching a few YouTube videos. It takes him less than an hour to do and he claims it’s super easy.

He uses this oil drum to drain the oil. You can deposit the oil for free at most auto parts stores. This is not some natural talent he has, he had to get out of his comfort zone to learn this skill. If he can do it, you can do it too!

Once you master changing your cars oil, consider looking into other car maintenance you can DIY. My husband has changed our brake pads and spark plugs from time to time. Honestly, I get a little nervous when he does it…..but we haven’t crashed yet!

This simple task DIY oil changes saves us $210 a year. It’s not a huge savings, but every penny adds up.

Cut the Cable: $480

A few years ago we decided to get rid of our cable TV. We were actually already on a fairly cheap rate, but we decided we could do without it. There are so many budget friendly alternative TV options available now.

You can sign up for Hulu, Netflix, Disney+, YouTube TV, Amazon Prime and more! I recommend limiting yourself to one or two subscription services. If we join all of them, you’ll probably end up paying more than you were paying for cable!

The best part is, you don’t even need to spend hundreds of dollars on a fancy smart TV. Just invest in a simple, affordable Roku and you can watch each of your TV subscriptions.

We have saved $480 a year by doing this!

Related: The Best Frugal Living Tips You Need to Know

At Home Haircuts: $200

I have been giving my husband at home haircuts for over 15 years now, my son has been getting them since the year he was born. I am not a professional, hair is NOT my talent. I have watched a few YouTube tutorial videos and both my husband and son get very basic cuts. I have made a few mistakes on both of them, but I keep learning and trying. And luckily boys hair grows out fairly fast! 😉

All it took $20 to purchase clippers, and I’m still using the same set 14 years later! You can find a similar pair to ours here: Hair Cutting Kit. This one quick purchase has saved us hundreds and hundreds over the years.

These at home haircuts saves us $200 each year.

Workout at Home: $840

Exercise is important for the human heart, body and mind. However, I have just never been willing to pay $70/month for a gym membership.

So, my husband and I have learned how to get a good workout from home. We go for a run or bike ride during the warm months. We love using free YouTube workout videos (my favorites are Yoga with Adrienne and PopSugar Fitness) at home and have even scored some really cheap used gym equipment that we enjoy on a regular basis.

These at home workouts are a $840 yearly savings!

The Results: $2730

Just by making these 5 easy budget cuts to our lifestyle we save $2730 a year! So, in five years we have saved $13,650! Ten years it will be $27,300! Those little expenses don’t seem like a big deal during the day by day, but over time they add up to be a very very BIG deal.

It really has not been hard to cut any of these things from our budget. We have been living this way for years and honestly never seem to miss a gym membership or cable TV. It has just become our way of life, and it’s a great life! It can be hard to form new habits, but once you do, those habits become your way of life and you often never really look back!

Take a look at your budget and lifestyle. Can you find a few things that you could change in order to save money? I promise the pay off is so worth it!

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How to reduce monthly expenses with these easy budget cuts.

How To Budget With An Inconsistent Income

January 25, 2021 By: Sweet Frugal Lifecomment

How to budget when you have an irregular income.

Have you been trying to budget with an inconsistent income and keep falling short? Do not worry! You are not alone! This is a very common problem that people with irregular incomes experience. When incomes changes from month to month it can be very hard to know how to budget. I mean, if you don’t know how much money you’ll be earning each month, how do you decide how much to spend? I get it, and I am here to help! There are a few tricks you can use to make budgeting with an irregular income not only easier, but possible. Today I’m excited to share my tips to help you learn how to budget with an inconsistent income.

First Things First

Before we get ahead of ourselves, let’s first do a quick run through and how to make a budget. When it comes to budgeting, I recommend making a zero based budget.

Zero based budgeting is really just a fancy term that means that when making your budget your expenses will equal your income. Every dollar you will be earning will have a job, a category it will be put in. This doesn’t mean you will be spending every dollar, just that you will find a category for every dollar in your budget.

This form of budgeting has helped my husband and I find so much financial success and limit our impulse spending. If it’s not in the budget, we can’t buy it!

If you are new to zero based budgeting, or budgeting in general, make sure to grab my free Budget Cheat Sheets below to help you get started!

How To Budget With An Inconsistent Income

There are a few different tricks you can do when learning how to budget with an inconsistent income. I suggest trying a few of these methods out until you find what works best for you and your income.

1. Make your budget based on your lowest expected income.

My first tip to budgeting with a variable income is to make your budget based off of your lowest expected income for that month. It’s always better to have to much money, instead of not enough, right? Right.

When you budget off of your lowest expected income you can be confident in knowing you have budgeted enough money for your monthly expenses. And, if your income ends up being higher, well, than that’s just icing on the cake!

To find your lowest expected income you will first need to review your income statements from the previous year. Compare each month until you find the lowest amount you earned last year.

Use that amount of money as your base income for your budget.

If throughout the month you earn more money than you your lowest expected, you can use that money to:

Pay off debt
Add to your Hills and Valley Fund (more about this below)
Save for retirement
Invest
Save for emergencies
Add to a sinking fund

2. Budget off of the previous months income.

Instead of living off of the amount of money you will be earning this month, live off of your income from the previous month.

For Example:

Let’s say that you earn $5,000 in January, $3,200 in February, and $5,500 in March.

In February you will not budget or spend any of the $3,200 you will be earning. Instead, you will be budgeting and spending the $5,000 you earned in January, and set aside your February earnings. Then in March you will budget the $3,200 from February and save your March earnings until the next month.

Make sense?

Budgeting off of the previous months income can take some practice and self control, but it is a great way to ensure you have the money before you budget for the month.

If you find yourself constantly tempted to spend your monthly income, instead of the previous months, you might want to set up a separate bank account to store that money in until it’s time to use it.

Related: How to Start Budgeting for Beginners

3. Create a Hill and Valley Fund.

A Hill and Valley Fund is one of the most effective ways to budget with an inconsistent income.

The Hill and Valley Fund is based off of the “Hills” and “Valleys” many people with irregular incomes experience. Some months your income will be big, like a Hill; and other months it might be a lot smaller, like a Valley.

Creating a Hill and Valley Fund is a way for you to help even out these variable income months. A Hill and Valley Fund is similar to a sinking fund.

*A sinking fund is a fund you save into regularly, but only use when needed.

The best way to grow this fund is to save some of your excess money during a “Hill” month into this fund, which isn’t always easy, but so important. Then, on the months when your income is low, a “Valley” month, you can use some of the money you have saved.

You can track your Hill and Valley Fund, similar to a sinking fund, within your budgeting programs. Or, set up a separate banking account to keep this savings in. Whichever works best for you!

Stay Consistent

It can be stressful when trying to learn how to budget with an inconsistent income. One of the most important things to remember is to not let that stress deter you from budgeting. Keep working your budget, trying different methods, and using your Hill and Valley fund and you will see success.

Try these three steps when making your next budget, and remember to stay consistent. Consistency is key to living within a budget, no matter how much money you earn. You can do it! I believe in you!

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I hope this article helps you know how to budget with an inconsistent income!

How To Lower Monthly Expenses Today

December 5, 2020 By: Sweet Frugal Lifecomment

Easy ways to reduce monthly bills.

Are you feeling stressed about your monthly bills? The expenses keep coming in yet the income is staying the same? I have been there! I have felt the stress of not feeling like we will ever have any extra money. It’s not fun! I learned quickly, and a little begrudgingly, that in order to eliminate this finance burden in my life I would need to cut some things from our monthly expenses. And guess what! It worked! I was able to eliminate a few things and clear up some extra room in our budget! Here are 11 Things you can do TODAY (yes, do them right now!) to reduce monthly bills and save more money! I’m so excited to tell you how to lower monthly expenses today.

Why You Need To Lower Monthly Expenses

You might be wondering why you should take the time and hassle to lower your monthly expenses. Maybe you feel like you are doing pretty good financially, and don’t want to add any extra stress to your life.

These are legitimate thoughts!

However, I want to present to you a few reasons why the effort and sacrifice just might be worth it!

Pay Off Debt Faster

Do you have debt? Maybe it’s some lingering student loans, or perhaps a few extra charges on the credit card.

You might not realize it right now, but this debt is holding you back financially. That extra money you have to pay towards interest each month is money that you have earned, and you deserve to keep it to use for something else!

Once you have paid off your debts you are able to begin saving, spending, and planning for expenses that are important to YOU! Becoming debt free is one of the best ways to relieve financial burden and finally take charge of your money.

When you cut your monthly expenses you will be able to have extra cash to pay off your debt quicker, putting you one step closer to that sweet financial freedom you deserve.

Related: How To Pay Off Debt Using The Debt Snowball or Debt Avalanche

Save For A Large Upcoming Expense

If you have any large upcoming expenses, such as paying for braces, buying a house, or a new child on the way, lowering your monthly expenses is a great way to save up for that expense.

When you make a few of the changes I suggest below you will have some extra cash that can be used for the big life events that you might have coming up.

Related: Baby on a Budget: A First Time Parents Guide to Saving Money

Save For Something Fun

Another great reason to lower your monthly expenses is to be able to have more money to spend on something fun!

Maybe you like to vacation. If you were able to have an extra $200/month, you could put that money into a vacation sinking fund and in a year you will have enough money to take a small vacation.

This didn’t require earning more money or putting the vacation on the credit card, all you had to do was cut some expenses and use that extra cash for something fun!

Imagine the fun things you have been wanting in life, when you do the work to lower your bills, you are giving yourself a chance to afford the fun things in life!

How to Lower Your Utility Expenses

Lowering your utility expenses is one of the easiest expenses you can cut. It doesn’t require very much extra effort, and can have a huge impact on your finances.

1. Reduce Your Home Thermostat

Consider lowering your house thermostat by 1 or 2 degrees during the day and 10 degrees at night (just pile on those blankets and flannel pjs!). We keep our thermostat set to around 68 in the winter and 78 in the summer.

By making this one simple change you can save up to 10% on your electricity bill! Quick, go lower that thermostat asap!

2. Switch to LED Light Bulbs

If you haven’t switched out the traditional light bulbs in your home for LED light bulbs now is the time to do so. LED light bulbs are more expensive upfront, but through time the savings is huge and well worth the initial cost! This 6 pack on Amazon is a good deal at $17.

The great thing about LED light bulbs is that they last forever! Ok, I might be exaggerating a bit here…they don’t really last forever. But they do last for a very long time! As a matter of fact LED light bulbs lasts 5 times longer than regular light bulbs. This means buying less light bulbs which will save you money (yay!).

The other great thing about LED light bulbs is that they use much less electricity, which brings down the cost of your electric bill. Just one regular light bulb will cost you $15 a year. One LED light bulb will only cost $6 a year. Multiply this number by the amount of light bulbs in your home and you will see a huge savings.

3. Lower The Temp on Your Hot Water Heater

Double check the temperature on your hot water heater. Lower the temperature down to 120 degrees. This is low enough to see a savings in your monthly bill, but high enough that your showers will still feel warm and your dishes will get cleaned. For every 10 degrees you lower your hot water temp you will save your family about 3%.

Related: 8 Ways to Save Money on Utilities This Winter

How to Lower Your Household Expenses

It’s no secret that running a household is expensive! However, there are a few things you can do to help bring down these costs.

4. Switch your Cell Phone Carrier

Shop around to multiple cell phone carriers. If you have been with the same cell phone carrier for a while it might be time to switch. Most cell phone carriers will offer you a good deal for being a new customer, all you have to do is ask!

Your original cell phone provider might even match the deal when they find out your considering switching. Don’t be afraid to negotiate a little!

Last year our family started using Tello Mobile. Plans start as low as just $6 month and we have been so impressed with the coverage.

Related: Frugal Cell Phone Provider; My Honest Tello Mobile Review

5. Negotiate Your Homeowners Insurance

Ask your insurance provider for special discounts on homeowners insurance. Most will be willing to offer you a deal if you bundle with your auto insurance.

You might also get a deal if you have a security system, have retired recently, been with the same company for a long time or updated your home to make it more disaster proof. My motto is that it never hurts to ask! Remember, everything is negotiable!

Don’t be afraid to shop around for different providers while you are at it. You might be able to find a cheaper rate somewhere else.

6. Pack a Lunch for Work

One of the quickest ways to lower your monthly expenses is to stop going out to eat. Eating out regularly is very expensive. I have found it important to make a meal plan each week and stick to it.

If you consistently eat out for lunch while at work, start packing a lunch from home instead. Give your co workers a polite, “no thank you” to the lunch invites and eat a lunch from home.

My husband loves to take dinner leftovers in his lunch. Whenever we have leftovers, we just proportion them into lunch sized servings and stick them in the fridge. This makes it easy to grab and bring to work, and tastes much better than a sandwich!

How to Lower Entertainment Expenses

Another budget category that is easy to lower are entertainment expenses. Entertainment usually falls under the want category, making it easy to stretch a little thinner if necessary.

7. Cancel All Subscriptions/Memberships

Look through all of your monthly subscriptions and memberships. Pick a few (or a lot) of these subscriptions to cancel immediately. You just might be surprised how quickly the extra money adds up from this simple switch.

Don’t forget these common subscriptions/memberships:

Gym Membership (try one of these free exercise ideas instead)
Netflix
Amazon Prime
Hulu
Disney Plus
Magazine Subscriptions
Music Streaming Services
Beauty Box Subscriptions

If this feels like a huge sacrifice to do all at once, try cancelling just one or two per month. This will help you ease in to the change. Just don’t forget to keep canceling something new every few months!

8. Cut Your Cable

Do you still have cable TV? Get rid of it to save an extra $40-60 every month.

We did this a few years ago and I thought we would miss it (especially the DVR). Fortunately we actually haven’t missed it at all! There are so many other affordable ways to relax and watch TV. A few of our favorites is to rent movies from the library and use Netflix.

Related: What we cut from our budget to save over $2500 a year

Other Ways to Save

Now that you’ve reduced your entertainment, household, and utility expenses there are still a few more things you can do to free up some extra money.

9. Increase Your Auto Insurance Deductible

Consider increasing your auto insurance deductible. This will result in a lower monthly premium, saving you money each month (which is what we want!!).

Just be sure you have enough money in your emergency fund to cover the deductible in the case of an accident.

10. Ask for a Lower Credit Card Rate

If you have any credit card debt call these credit card companies and ask for a lower monthly interest rate. Most companies will be willing to honor this request if you have been paying on time each month.

I know this can be a scary phone call to make, but really the worst thing they can say is, “No”, right???

Related: 5 Bills You Should Negotiate

11. Sell Clutter Around Your Home

Use your clutter around your home to make a little extra money! Take an hour today to sort through your home and use a few online platforms to list a some of your clutter for sell.

My favorite quick-to-sell place is Facebook Marketplace. Most items I list for sell on Facebook sells within a few hours. Use this extra cash to help pay for your bills this month.

Try to make a goal to sell a 2-5 items every month. If you have any debt this is a great way to get this debt paid off a little faster.

Related: 10 Items In Your House You Can Sell Quickly To Make Money

In Conclusion

You do not need to implement each of these ideas into your life immediately, just pick a two or three to do today and then pick a couple more to do tomorrow.

These small simple changes will make a big difference over time.

Liked this article? Be sure to pin it for later reference!

I hope this article helped you get some ideas about how to lower monthly expenses.

How to Start Budgeting for Beginners

September 7, 2020 By: Sweet Frugal Life4 Comments

Your Budgeting Questions Answered!

I receive so many messages on a daily basis from people wanting to learn how to start budgeting, but they don’t know how to take that first step. It is always so amazing to me when I see others who want to improve their life and financial situation. This isn’t an easy thing! It can be scary trying to make such a big change into the unknown. There can be a lot of questions when you first start budgeting and I want to answer some of those for you.

Disclosure: “We are a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for us to earn fees by linking to Amazon.com and affiliated sites. As an Amazon Associate I earn from qualifying purchases.”

How do I start budgeting?

The very most asked question I receive on Instagram is from people wanting to know how to start budgeting. I think one of the hardest parts of most new habits is starting. It is always hard to take that first big, sometimes scary, step in a new direction. I have three suggestions to help you get on the right track for a successful budget.

1. Make A Zero Based Budget

I recommend making a Zero Based Budget. This is a budget where your expenses and income will be the same, in short…..you give every dollar a job to do within the budget. This does not mean you SPEND every dollar, it means that it has a purpose and place within your budget.

If you are new to budgeting, it might take you a while to figure out just how much money to budget for each category. This is normal! A budget is fluid, meaning it is always changing.

I had about a year of FAILED budgets (no lie) before I finally learned what works for me and my family.

A great resource to get started is my Free Budget Worksheet. Grab it by signing up below!

2. Track All Expenses

Once you make your Zero Based Budget I recommend tracking all of your expenses throughout the month. Yes, this means writing down every.single.thing you spend. Even that $1 pack of gum. Write it down and track it!

Tracking your expenses keeps your budget accurate, and gives you a great window into your spending habits. By tracking your spending habits, you will be able to see what areas you are over spending in and areas you could cut back. This is crucial knowledge!

3. Check Out Dave Ramsey

I highly recommend everyone new to budgeting, frugal living, or paying off debt read the book, The Total Money Makeover by Dave Ramsey. This book changed my life and was the one thing that put me on my path to frugal living and mindful spending.

Check it out from your library, borrow it from a friend, or order it from Amazon. No matter how you get it, just read it. Dave Ramsey uses easy to understand terms as he explains exactly how to fix your financial situation.

What is the best way to keep track of day to day spending?

Ok. So now that we understand it’s important to track spending, let’s talk about exactly how to do that!

Truth is, there are many different ways to track spending. There is no right or wrong way to track spending, the most important thing is that you stay consistent. Here are a few options to try:

1. Excel Spreadsheet

When we first started budgeting my husband put in hours (and hours and hours) making us an excel spreadsheet budget. It was full of details and catered to our spending and needs.

We loved this method. It was free and easy to customize and liked that we could make it exactly how we needed it. However, it was very time consuming to make and upkeep.

2. Budgeting App or Software

After using the excel spreadsheet for a few years we moved on to a computer budgeting program. It was seriously the best decision ever.

We have been using the You Need a Budget budgeting app for about 10 years now and have never looked back. It is so user friendly and very affordable! I love that you can download the app onto your phone and update it as you spend.

A few other great apps available are Every Dollar, Mint, and Pocket Guard.

3. Paper and Pen

There is nothing wrong with tracking expenses with old fashioned paper and pen. As a matter of fact, I know many who prefer budgeting this way.

When tracking spending it is important to stay consistent. Pick a day of the week, schedule a time, and develop a routine for tracking your spending.

How do you use cash envelopes?

Cash envelopes are a great way to limit your spending and stick to your budget. I always recommend them to anyone who consistently is going over budget. Plus they are so easy to use!

Just make your budget, and then get out enough envelopes for your spending categories. Label each envelope, “Clothing”, “Groceries”, etc. Stuff the envelope with enough cash to cover your budgeted amount.

As you go throughout the month, use the cash envelope to purchase items in each category. Once the cash is gone, your spending for the month is done!

Related: Have More Money With The Cash Envelope System

How do you make a grocery budget?

First, I want to remind you that grocery budgets will vary greatly! There is no secret amount or right/wrong way to budget for groceries. Food prices vary in different parts of the world, and different families have different needs/diets.

It will take some trial and error to find the right grocery budget for you. A good rule of thumb is $120/person/month. So, a family of four would have a budget of $450/month. However, if you find yourself needing more in your budget that’s OK. Make your budget work for YOU!

How do you save money on groceries?

Groceries are one of the biggest expenses for most budgets. But! I have learned a few ways to ease this burden!

1. Meal Plan

The number one way I have found to keep those costs low is to meal plan. Plan out every meal you want to eat for the week. As you meal plan, write out your grocery list, and stick to this list while you shop. Having a plan reduces the temptation to impulse shop and eat out.

2. Walmart Grocery Pickup

Another fantastic way to stick to your grocery budget is to use Walmart Grocery Pickup. It is completely FREE and you get to shop at home (in your PJs!) and then pick your groceries up at the store. You don’t even have to get out of your car!!

The thing about Walmart Grocery Pickup is that you are able to watch your cart total on the app as you shop. If you find you are spending more than your budgeted amount, just delete a few items from the cart! So easy! So helpful!

Related: 10 Quick Ways to Save Money on Groceries

What are the easiest cashback apps for frugal beginners?

I’m always getting asked about the best cash back apps. And, I love answering this question because cash back apps are one of my favorite things ever!! I mean you get paid to buy things you would be buying anyways! It just doesn’t get much better than that!

Here are a few of my favorite:

1. Ibotta

Ibotta is the cashback app I have been using the longest. It’s easy, straightforward and always has a few rebates available! Sign up using this link for up to a $20 sign up bonus! Whoo!

2. Fetch Rewards

The easiest cashback app ever is Fetch Rewards. Fetch Rewards takes less than a minute to use, and rewards you with points for every receipt. These points can be redeemed for gift cards to your favorite places (Target and Amazon!!). Try it for yourself here and use code FETCH2K to get 2,000 bonus points!

3. Rakuten

Another very easy app to use is Rakuten. Rakuten gives you cashback when you shop online at participating retailers. I never buy anything online without first checking the Rakuten website! Sign up today and get $10 bonus when you spend your first $25!

I share more details about cashback apps here!

What should my budget look like? What is normal for our family?

When you are learning how to budget it’s important to remember that no two budgets look the same, and that’s how it’s suppose to be.

My normal will be different than your normal. What I spend on groceries, will be different from what you will spend on groceries, etc. This is one of my favorite parts of a budget. You can customize it and find something that works for you personally!

With that said, I do recommend following Dave Ramseys budget percentages. These aren’t the law, but I do like that it gives me a basic number to shoot for.

What can you do when you cut back, budget and still don’t have enough money?

I loved this question; because it is so relatable and a very real situation for many of us.

My first piece of advice is to keep your head up! You are NOT alone! There are so many dealing with similar struggles. I strongly believe that together, we CAN help each other reach our financial goals. Reach out to facebook groups and instagram accounts that discuss this issue. Surrounding yourself with others in this situation should give you the strength, support and ideas to help get you through it.

When you have done EVERYTHING you can think of and the money is just still NOT adding up, that means it’s time to take more extreme actions. Here are a few ideas to take when you need to be “gazelle intense.”

Related: How to Cut Your Budget; When There is Nothing Left to Cut

1. Sell items in your home

Look around your house for items you don’t use very often. Sell these to earn a little extra money. My goal is to always earn about $50 each month just by selling my clutter. It’s possible!

10 Items In Your House You Can Sell Quickly To Make Money

5 Places Online To Sell Your Clutter and Earn Cash).

2. Start a side hustle

Try to find another way to bring in extra money. A side hustle is a job you can do during your free time. Here are a few side hustle ideas you can do at home.

3. Make some sacrifices

Look through your budget one more time and find a few things you could cut out to have more money. Could you stop going out to eat, or maybe you could switch cell companies to lower your phone plan, could you cancel your TV subscriptions or maybe not going to the movie theater?

I know that each of these can and will take a huge sacrifice, but remind yourself that the sacrifice is temporary.

4. Earn more money

Consider asking for a raise from your current employer. If you have been working at the same location for over a year, many employers will consider giving you a raise. It never EVER hurts to ask! Just ask politely and confidently.

If a raise won’t happen you might want to make a job change. Begin searching around for a job that will pay better and still make you happy.

5. Downgrade

If you are in desperate need of more money and none of the other suggestions will work for you, you might want to look into downgrading in a few areas of your life. This might mean trading in your car for a cheaper model or moving into a more affordable home.

I understand it is NOT easy when the money just ISN’T there. ESPECIALLY when you feel as if you have sacrificed again, and again and again. I get it, I have been there! Keep your head up. Keep trying. I believe in you!

In Conclusion

I hope this article answered all of your questions about budgeting and gave you the tools you need to know how to start budgeting! Feel free to reach out if you have any other questions. I’m always happy to help!

Remember that learning to budget takes time, and that’s OK! Don’t give up if you fail the first few times…..keep trying and keep learning.

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I hope this helps you understand how to start budgeting for beginners.

How To Stop Impulse Buying For Good

May 29, 2020 By: Sweet Frugal Life7 Comments

10 tips to help you stop impulse shopping today.

Let’s talk impulse shopping. Truthfully?? This is something I have always struggled with. Do I budget? YEP! Do I love to save money and watch my bank account grow? ABSOLUTELY! Yet, I STILL impulse shop! (you win some and lose some right???) A few years ago I made a few changes to help stop this bad habit. Through time, and a lot of practice and fails, I have finally been able to control myself more at the store. If you can relate to this, well you’re in luck! Because today I am going to share a few tips to help you learn how to stop impulse buying.

1. Admit you Have a Problem

The first step to quit this bad habit is to admit that you have a problem. Many impulse shoppers try to rationalize their impulse buys. These phrases sound a little like, “Oh, but it was on sale, so it was a smart buy,” or “It was something that we really needed anyway, so it wasn’t really an impulse buy.”

The truth is that these phrases are only excuses. We make up excuses to hep ourselves feel better when we know we messed up!

The next time you buy something on impulse, admit to yourself what you did. Don’t make up an excuse or explain the buy away. Impulse shopping doesn’t make you a bad person, it makes you normal….but that doesn’t mean it’s what is best financially.

You must admit you have a problem, before you will ever be able to change.

2. Recognize your Triggers

Now that you’ve admitted you might have an impulse shopping problem, it’s time to decide what your spending triggers are.

Is there a certain store that you leave buying more than you should have (this would be Target for me!). Or maybe when you are feeling stressed you spend more than you want to. Pay close attention to your spending habits and make a list of a few of the triggers that tempt you to shop.

Related: Overspending Triggers and Solutions

3. Find Alternatives To Shopping

The third step to curing impulse shopping is to find alternative activities to help keep you away from your spending triggers.

If shopping at Target tempts you to overspend, shop at Walmart instead (this is what I had to do!!)

If you shop when you are feeling upset, find a different activity to help you work through those emotions.

If you follow a really cute, sweet blogger on Instagram, but her posts about darling clothes on sale make you want to spend money….unfollow her!

Do whatever it takes to find something to keep you away from your personal triggers.

Related: 9 Ways to Kick The Emotional Spending Habit

4. Leave the Cards at Home

Ditch your credit and debit cards and instead shop using cash. This is the best way to make sure you don’t overspend.

Decide how much money you want to spend at the store, put that much money in an envelope and leave EVERYTHING else at home.

You will need to pay close attention to everything you put into your cart, because you literally can’t afford to buy anything that costs more than the cash in your wallet.

Related: Have More Money With The Cash Envelope System

5. Make a List

Never go to the store without a premade list in your hand. Commit to buying what is on that list, and NOTHING else (even if you pass by the cutest shirt….and it’s on a huge discount….just keep on walking!). This has saved me so many times! For some reason if it’s written down, I am much better at sticking to my goals.

6. 48 Hour Rule

Give the 48 hour rule a try the next time you want to impulse buy. It’s super easy!

Just set a dollar amount (mine is $50) and commit to waiting at least 48 hours before buying anything above that amount.

This will give you time to make sure you REALLY want this item. Most of the time when I wait 48 hours, I tend to change my mind and realize that I didn’t need the item after all (funny how that works huh!).

The 48 hour rule also gives you time to shop around, and see if you can find a similar item at a cheaper price.

When you wait to make a purchase you are giving yourself time to separate emotions from logic, or want vs. need. This is so important when learning how to stop impulse buying.

7. Give Yourself Splurge Money

Be sure to include “splurge money” in your budget. Splurge money is money for you to spend however you WANT! (yay! I love splurge money!)

Your splurge money will give you that sweet little taste of freedom in spending. This can help curb a lot of your spending temptations.

The amount you budget for splurge money will be different for everyone. If you have a very tight budget, your splurge money should be a smaller amount. If your budget has some wiggle room perhaps you could give yourself more money. As always, do what’s best for YOU!

8. Walk Around With Your Shopping Cart

This suggestion might seem a little silly, but it works for me!

Whenever I get tempted to impulse buy something not on my list, I grab it anyway and put it in my cart. I don’t head right to checkout, but instead browse around the store for a while.

After 20 minutes or so, when it’s time to leave, I look at my cart and the items I stashed in there and ask myself, “should I really buy this? Do I have money in my budget for this item? Is it something I need? Could I wait and budget for it later and come back and buy it?”

Because I gave myself that time to walk around with it in my cart, my voice of reason come back and I usually decide to put the items back where they belong. Try it!

9. Use a Spending Buddy

Find a friend who has similar financial goals as you and use each other as someone to talk to when tempted to impulse buy.

A few years ago I had a good friend who agreed to be my spending buddy. Whenever I would find that one item I thought that I just HAD to have, I would call my friend. I explained to her what I wanted and she would ask me the important questions about if I really needed it, could I find something cheaper, etc. And, I would do the same for her in return.

My spending buddy was so great at helping me spend less. And because I KNEW I would need to call her before I bought anything….it made me second guess my impulses, I only wanted to call her for important things!

10. Forgive Yourself

This is one of my very most important tips! We are all going to make mistakes, change is HARD…..and perfection is IMPOSSIBLE!

Remember to forgive yourself when you overspend and impulse buy. Use these mistakes as an example to learn from. Make a plan about how you will be do better next time, and then MOVE ON.

In Conclusion

If you are struggling with overspending and trying to figure out how to stop impulse buying, try out a few of these tips. The most important thing is to remember to keep working at it. You won’t cure your shopping problems over night, but through time, patience and effort you can form new habits.

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Remember to just say no the next time you are tempted to shop on impulse.

10 Quick Ways to Save Money on Groceries

May 17, 2020 By: Sweet Frugal Life8 Comments

The best ways to money on groceries.

Groceries is one of the biggest monthly expenses in most households. And, unfortunately food prices continue to rise every single day. The good news is that this is one of the expenses that can be lowered, it just takes a little extra effort. I’ve been learning how to save money on groceries for over a decade now. It has taken a lot of trial and error, but I have finally found a few tricks that work.

I am a member of online affiliate programs. I may be compensated by purchases made through links in this post. All opinions are my own.

1. Meal Plan

A meal plan is an essential step when trying to save money on groceries. I recommend you browse through pinterest boards, and recipe books to give you fresh ideas of what to cook each week. Write down everything you want to make for the week, including snacks and meals. As you meal plan, make a list of groceries to buy. Take this list with you to the grocery store and only buy what you wrote down, nothing else!

A good meal plan will be written based on what you already have in your pantry and cupboards. Take a few minutes to take inventory of what you already have at home and plan your meals around those items.

Meal planning limits impulse buys and the temptation to eat out. Do not skip this important step!

Related: Start Meal Planning For The Complete Beginner

2. Keep it Simple

It’s fun to experiment and try making a few fancy meals. But, when you meal plan remember to think about the cost of ingredients. Sometimes those fancy meals have ingredients that will cost you a lot of money.

Try simplifying how you cook to save money on groceries. You don’t need to have simple meals every day of the week, but try to plan a few meals each week that are simple and basic.

Here are a few simple dinner ideas: breakfast for dinner, grilled cheese sandwiches, pasta bake, bean burritos, spaghetti, quesadillas, stir fry, etc.

3. Buy What’s On Sale

As you meal plan check the weekly grocery ads to see what’s on sale for the week. Plan your meals around those sales. For example: If chicken is on sale, I will plan a few meals with chicken.

If you have room in your grocery budget buy a few extra of what’s on sale. If you buy it when it’s on sale, you will be spending less in the long run. I like to stock up on snacks, cereal, fruit (buy fresh and freeze for later), and canned goods during sales.

Related: 19 Foods You Didnt Know You Could Freeze

The best way to check ads is by using the Flipp App. It’s a completely free app to use and very easy to navigate. You will enter your zipcode, select your favorite stores, and then can browse each of the ads. There are new ads each Wednesday.

4. Shop Your Pantry

Before you ever meal plan or even look at the weekly ads, look through your pantry. Take a quick inventory of what you already have. Plan your meals around those items. Turn it into a game and try to come up with as many meals as you can, only using the ingredients you own. This is a great way to use up the items you bought shopping sales.

If you have kids, try to make it fun for them. Tell your kids that you are playing Box Car Children (did anyone else love those books as kids????). During this game they can only eat the food you can find and gather around the house. Kids love this!

Another way I use up my pantry is by having regular YO-YO nights. YO-YO stands for “You’re On Your Own” and is really just a fancy way of saying we are having leftovers for dinner. When I plan Yo-Yo for dinner the family knows we are eating leftovers and whatever can be found in the pantry. Cheapest dinner around!

Related: 25 Items You Must Have In A Frugal Pantry

5. Utilize Cashback!

Take advantage of every cashback app available. It hardly takes any time to scan your receipts and you get FREE MONEY!

If I ever see my husband throw a receipt in the garbage without getting cashback I ask him, “Would you ever throw 50 cents in the trash can? No! But when you throw away a receipt without scanning it first, it is the same as throwing away money.” The small cashback adds up! In the 5ish years I have been using cashback apps I have gotten hundreds and hundreds of dollars back.

My Fave Grocery Cashback Apps:

Ibotta: The first cashback app I ever used was ibotta, and I’m still using it weekly. It’s so easy to use!

All you have to do is shop, check the app for rebates, scan your receipt, and the money is instantly put into your ibotta account. Easy. Peasy. They have a wide selection of rebates, and I can always find something to earn on. My favorite rebates are the “any brand” rebates they often put on items such as milk, produce, pantry items, beauty and household.

*******Sign up for Ibotta with this link and you will get up to a $20 welcome bonus! Yay! This is the perfect way to try it out!***********

Discover Card: My FAVORITE way to earn cashback is by shopping with my Discover Card. I know a lot of people don’t like using credit cards, and I get it! But, for me, this has been the best way for us to earn more money.

In short, when I shop with my Discover Card I automatically earn cashback on all purchases. They give you 1% cashback on EVERYTHING and 5% on different categories that are rotated monthly. (Currently, I am receiving 5% on groceries).

You don’t have to do anything, just use your card and your cashback will grow. I earn around $500 cashback with Discover a YEAR, and all I do is shop like normal!

Fetch Rewards: Fetch Rewards is hands down the easiest cashback app to use! All you have to do download the Fetch Rewards app, scan your grocery receipt, and fetch will automatically reward you with points. It’s seriously that easy!

These points can be redeemed for gift cards to ALLLL of your fave stores (I usually choose Amazon or Target!). One of my favorite parts of Fetch Rewards is that your points can be redeemed for as little as $3 (3,000 points equals $3). This makes collecting the reward quick and fun.

Checkout 51: Checkout 51 is very similar to ibotta. You shop, scan your receipt and qualified purchases and you will get the rebated money instantly in your account. Once you reach $20 in your account you can request your money, same as ibotta. Most importantly, it only takes a few minutes to check for rebates and one minute to scan your receipt. I have made over $50 cashback using Checkout 51!

6. Cook From Scratch

The more you cook from scratch, the less money you will spend on groceries (I promise!). I know how big the temptation is to grab the prepackaged foods at the grocery store. But, if you really want to save money on groceries you need to learn to resist this temptation.

If cooking feels really overwhelming to you, start small with a few simple recipes. Slowly try new things. Don’t let a few failures get you down. I have been cooking almost my whole life and I still make a few flops every now and then.

If you struggle finding the time to cook start meal prepping during the week. Set aside one day each week as your meal prep day. This might be a weekend, evening, or whenever you have free time.

Your meal prep day will be the day you cook up your meat, cut up veggies, and mix up a few snacks. These can all be stored in your fridge to use throughout the week for meals.

Related: Homemade Graham Cracker Recipe

7. Buy Meat on Sale

Meat is one of the biggest grocery expenses. Get into the habit of only buying it when it’s on sale.

One way to get cheaper meat is to buy it in bulk. Look for places selling bulk meat, like Butcher Box, and stock up when they are having sales.

Related: Freeze Chicken in Bulk and 6 Freezer Chicken Recipes

7. Shop Less Often

How many times have you gone to the grocery store for “just one thing” and left with a cart full of food?!?!? It has happened to me more times than I would like to admit! The less times we go to the grocery store, the less money we will spend (I know you’re shocked right).

The next time you feel that temptation to run to the store for one little thing, don’t do it! Instead, figure out how to make it work without buying that one ingredient. Look up a good substitute ingredient, or find something else to make. I promise your bank account will thank you!

8. Calculate Your Spending

Make sure you don’t go over your grocery budget by keeping track of how much you are spending while at the grocery store (before checking out!). Whip out your phone calculator and add up each item as you put it into your shopping cart.

This helps keep you on track so there is no surprises at the checkout counter. If you see you are going over your budget, take some of the food out of your cart and put them back on the shelf.

The EASIEST way to keep track of how much you spend while grocery shopping is to shop using Walmarts Free Grocery Pickup. This is probably the best invention ever. Not only does it save me time and sanity (hello no crying kids in the grocery cart), but it also saves me so much money!

The Walmart Grocery App is easy to use. Just open it up, click the items you want to add to your cart, and then check out when done! You will select a time and day to pick up your groceries at your nearest Walmart. A nice Walmart employee will bring your groceries out straight to your car and load them up for you! It’s the best!!

Grocery shopping this way helps me easily keep track of how much I am spending. Before I check out I look at how much money I have spent, if I have gone over the grocery budget I delete a few items until I get to the right amount. I haven’t gone over budget since I started doing this!

********If you want to try Walmarts Free Grocery Pickup (AKA My Favorite Thing Ever!) you can get $10 off your first order by using this link!

9. Buy Generic

I use to be such a name brand snob (not proud of it) and insisted I would never buy generic. Many years later I am so glad I saw the error of my ways. Most generic grocery brands are just as good as the name brand, sometimes even better! I now wish I would have realized this earlier, we could have saved so much more money!

Try buying less name brand and more generic and you will notice a huge savings on your grocery spending. This is such a simple change that can make a big difference.

Related: 15 Products You Should Always Buy Generic

10. Meatless Mondays

Spend less money on expensive meats by incorporating a few meatless meals into your weekly meal plan. We like to have Meatless Mondays, which is one day every week when I plan a meal without meat. You can set up your meatless days however works best for you.

I have found the best meatless meals are meals with beans, quinoa, soups and pastas.

BONUS

11. Learn from Others

One of the best things I have one for my grocery budget is to study! I read blogs, follow money saving Instagram accounts, and do what I can to study and learn from others grocery tips. It takes time, and it takes a little bit of effort, but it has helped me tremendously!

One of my favorite blogs to follow is Money Saving Mom. She gives realistic advice to help moms (and anyone!) save money. I actually just bought her BRAND NEW ebook Slash Your Grocery Bill: 25 Tried and True Strategies and was so impressed! She goes over 25 of the best methods to save money on groceries, giving details and easy to follow instructions.

I actually had no idea you could freeze baking mixes until I ready this book (it’s shared in tip #16!). I am planning on whipping up a few baking mixes today and sticking them in my freezer for later use.

The best part is she has the book on sale for only $8.50! Don’t waste any time and download Slash Your Grocery Budget today! It is full of so much money saving goodness!

In Conclusion

I know you save money on groceries! Try a few of the tips in this article, the more you try, the more you will save. The most important thing is to never quit. It takes constant effort to spend less at the grocery store. I know you can do it!

Want to see exactly how I grocery shop each week on my $500 grocery budget? Check out my YouTube video below!

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I know you can save money on groceries with these strategies.

What Are Sinking Funds? Everything you need to know!

May 9, 2020 By: Sweet Frugal Life6 Comments

Wondering what is a sinking fund? I’ve got the answer!

I get asked a lot, “What are sinking funds?” And I love answering this question because sinking funds are my favorite part of budgeting. They give me the freedom and control to make a plan and treat myself on something fun.

For example, my husband and I really like to travel. We don’t do it a lot, but it is a conversation we are always having. The secret to being able to travel while on a tight budget? Sinking funds!

Do you use sinking funds in your budget?? If you don’t use them yet, I strongly suggest beginning immediately! They have enabled me to save up for the things we want, and the things we need; and they allow me to enjoy spending GUILT FREE. Seriously, the best!

What is a Sinking Fund?

A sinking fund is a smart way of saving money for planned future expenses. You contribute a small percentage of your income into the sinking fund each month. This gives you the ability to pay for the large expenses without having any stress; the money is ALREADY there!

For example, we use a sinking fund to save for our Christmas expenses each year. We know that December will be an expensive month, so we save a little bit of money each month into our Christmas Sinking Fund, and when the time arrives, we can easily pay for everything.

Related: 20 FREE or FRUGAL Family Christmas Traditions

What types of Sinking Funds should I have?

Sinking Funds will be different and unique to each person and situation. Any known expense that you feel you should save up for, is a Sinking Fund. A few examples of sinking funds are:

Christmas
Vacation
Home Repair
Taxes
Car Maintenance
Clothing

Is this my Emergency Fund?

No, no and no! Your Emergency Fund is for emergencies ONLY! An emergency is an UNPLANNED expense.

A sinking fund is for all of those other expenses that arise, the ones that you know are coming and know will be expensive.

Example:

I KNOW that Christmas will come EVERY year, so I save for it through my sinking fund. I KNOW that we want to take our kids on a vacation in a couple of years, so I have a sinking fund to save for that large expense.

Related: What is an Emergency Fund

How much should I save?

The amount to save into your sinking funds will depend on your income and what you are saving for. The best way to determine this number is to write down your goal amount, divide it by the number of months until you will need that money, and then you have the exact amount to save each month.

Example:

If we wanted to spend $1000 on Christmas and we started saving in January we would compute the equation: $1000 divided by 11 = (about) $91. So, now we know that we need to save $91 every month to have our Christmas fully funded by December.

Do I need to save a large sum each month, or make smaller contributions?

I encourage you to put money into your Sinking Fund with every budget that you make. Budgets are made at different intervals, usually depending on preference and pay period. I make my budget monthly, so I deposit into my sinking fund once each month. If you budget weekly, deposit money into your funds weekly.

Where do I keep my Sinking Funds?

You will want your money saved in a place that will be readily available. Do not put these funds into the stock market. A regular savings account or money market account is best. I know of a few people who prefer setting up multiple savings accounts for each individual Sinking Fund. Check with your bank about opening up multiple accounts, my bank charges for each account, so it just wouldn’t be worth it to me.

We decided to keep the funds all together in one savings account. This is where an excellent budgeting program comes to play. I use YNAB for budgeting and it allows you to set up certain categories as Sinking Funds. This makes it possible (and so easy) to be able to track how much each fund holds at all times.

If paper and pen is your thing, go with it! You can easily track your sinking funds using my Free Sinking Fund Tracker. Download it, along with 4 other free printables below.

How is a Sinking Fund different than a Savings Account?

It’s not really. I use my bank savings account as a place to store my emergency fund and all of my sinking funds. The biggest reason to use a sinking fund is to encourage you to save with intention and purpose.

Scenario 1:

Johnny saves $100 every month into his bank savings account. He is proud of his regular savings and dreams of one day having enough for vacations, a new car, or any emergencies that may arise.

After one year Johnny has $1,200 saved. He needed to make repairs in his basement bathroom and used the entire savings account to cover the costs for those repairs.

Scenario 2:

April saves $100 every month into her bank savings account. She uses YNAB (or any other budgeting program) to save this money into separate sinking funds. Monthly she puts $50 into her emergency fund, $25 into her new car fund, and $25 into her vacation fund.

After one year April has $1,200 saved. $600 is in her emergency fund, $300 in her new car fund, and $300 in her vacation fund.

April now has possibilities. She can use her emergency fund to begin repairs on her basement bathroom, or wait a few more months to help that grow a little more.

The Lesson

When you save money using sinking funds you are are giving yourself options and control over your savings. You are making it possible to save for large expenses, without having to juggle all of the other costs that can get in the way. Think of sinking funds as a budget for your savings account.

Related: How to Cut Your Budget When There is Nothing Left to Cut

In Conclusion

If you aren’t using sinking funds in your budget, I highly suggest you start now. It opens up a whole new world of saving possibilities! Make sure to grab my free budget printables below to help you get started.

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Now that you know what is a sinking fund, start making a few today!

« Previous Page

Overspending Triggers and Solutions.

True Story….

How To Stop Overspending

1. Spending Trigger: Boredom

2. Spending Trigger: Lack of Confidence

3. Spending Trigger: Shopping as Therapy

4. Trigger: Jealousy

Solution:

5. Spending Trigger: Sales

6. Spending Trigger: Friends

In Conclusion

Related Articles:

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I hope this helps you to know how to stop overspending.

Today I am explaining exactly what is an emergency fund and why you need one.

What is an Emergency Fund?

Who Needs One?

Why Do I Need An Emergency Fund?

When Should I Use Money From This Fund?

What If I Feel Guilty?

How Much Money Do I Need Saved?

What are Living Expenses?

Where Should I Keep This Fund?

In Conclusion

Related Articles:

Pin This Article For Later:

Now that you know what is an emergency fund, go set one up!

What you can do to have more money each month.

1. Analyze Your Fixed Expenses

2. Analyze Your Variable Expenses

Finding Extra Money In Your Budget

Related Articles:

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I hope now you understand how to find extra money in your budget.

What we did to save more money each month.

Pack Your Lunch: $1000

Change your own oil: $210

Cut the Cable: $480

At Home Haircuts: $200

Workout at Home: $840

The Results: $2730

Related Articles:

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How to reduce monthly expenses with these easy budget cuts.

How to budget when you have an irregular income.

First Things First

How To Budget With An Inconsistent Income

1. Make your budget based on your lowest expected income.

2. Budget off of the previous months income.

3. Create a Hill and Valley Fund.

Stay Consistent

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I hope this article helps you know how to budget with an inconsistent income!

Easy ways to reduce monthly bills.

Why You Need To Lower Monthly Expenses

Pay Off Debt Faster

Save For A Large Upcoming Expense

Save For Something Fun

How to Lower Your Utility Expenses

1. Reduce Your Home Thermostat

2. Switch to LED Light Bulbs

3. Lower The Temp on Your Hot Water Heater

How to Lower Your Household Expenses

4. Switch your Cell Phone Carrier

5. Negotiate Your Homeowners Insurance

6. Pack a Lunch for Work

How to Lower Entertainment Expenses

7. Cancel All Subscriptions/Memberships

8. Cut Your Cable

Other Ways to Save

9. Increase Your Auto Insurance Deductible

10. Ask for a Lower Credit Card Rate

11. Sell Clutter Around Your Home

In Conclusion

Liked this article? Be sure to pin it for later reference!

I hope this article helped you get some ideas about how to lower monthly expenses.

Your Budgeting Questions Answered!

How do I start budgeting?

What is the best way to keep track of day to day spending?