My husband and I were talking with some friends recently and discovered that they were having financial problems. We were doing our best to help by asking some questions and discovered food spending was a big problem for them. We started talking about some things that are guaranteed to be “budget busters.” I’m going to detail them over a short series of posts. I welcome you to suggest any others I might miss.
Budget Buster #1: Food
If you are struggling with money, the first line in your budget you must examine is what you spend on food. Most people think a car payment or credit card bills are first. Food is where it all starts and what you spend on it will tell you a lot. Food can wreak havoc on your budget in a number of ways. Start your day off with a trip to McDonald’s for an Egg McMuffin or to a donut shop, then you might go to the vending machine at your job or your college for a Coke, maybe you might go to lunch at a restaurant with friends, and then end the day by telling your family, “I don’t feel like cooking,” followed by your ordering a Papa John’s pizza. You just spent about $50 for one day. That isn’t counting what anybody else in your family spent on food during the middle of the day. This type of spending is what you must control. Our family controls our spending on food by eating mostly at home and mixing in planned trips to restaurants. Sit down and plan a list of meals. Plan to eat at home most of the time. Plan only to eat at a restaurant once every few weeks. You will be amazed at the money that you save and how healthy you will feel.
Tags: Budget Busters