This Easy Budget Hack Could Save You Hundreds Each Month

May 31, 2017

If you’ve ever taken the time to categorize your monthly spending, chances are you had a similar reaction that I did when I realized how much we spend on food each month – disbelief with a side of regret, anyone? It’s just the hubs and I for now, and we are pretty good about eating in, at least compared to a lot of our DINK (dual income, no kids) friends, so I’m always shocked when our grocery spending sometimes tops what I’d expect a family of four to spend.

Food is expensive…

The fact is, food is expensive and who wants to walk around the grocery store with a calculator? There are ways to counteract that by planning your menu around the grocery store sales, buying in bulk, etc., but sometimes life is just too busy, I know. So here’s an easy hack that I learned from my friends Jill and Andy:

The hack…

One week per month, skip the grocery store and instead eat what’s already on hand. Then take the money you don’t spend on groceries and transfer it to your savings account or use it to boost the payment on a high interest rate credit card. The only number you need to know is what you spend each week, on average.

The long-term effect…

This hack alone could boost your retirement savings by over $250,000 if you stick with it over the years or literally shave years off your debt payments if you use it to get out of credit card debt sooner. Plug your info into the Debt Blaster calculator to see the difference.

Get creative in the kitchen…

That’s it! No coupon clipping needed. It may require a little bit of creativity in the kitchen, but I always find it’s easier than it seems – digging out those jars of interesting sauces I impulse buy at Trader Joe’s or finally using that extra cooked orzo I froze feels so good and budget friendly. You can also use Supercook, a website that let’s you input ingredients you have hand, then suggests different recipes. Plus, it helps to clear your pantry, fridge and freezer of food that may otherwise end up in the trash – a double financial bonus!