Thursday, June 26, 2008

My New Grocery Budget

I have decided, after considering it, that I need to cut down our grocery budget drastically. After seeing how much it has gone up and thinking about what I buy now and what I used to buy, I have decided that I am sure I can chop it down considerably. As a starting point I am going to challenge myself to keep below £250 for the next 4 weeks.

This should be pretty easy as I have just bought new toiletries, nappies, pull-ups, washing liquid, dishwasher tablets and olive oil so there should not be any big purchases. I am going to see how well I can get on by using up things in the cupboard, cutting down our extravagant spending, reducing the quantity we eat and shopping around for bargains. I need to buy bread, bananas and milk today so finding the cheapest source within walking distance of the house will be a challenge.

Hopefully by the end of my four week challenge I will be able to reward myself by using the difference between what I normally spend on groceries £550 and whatever I spend in the four weeks on paying back some mortgage!


Jay said...

I too LOVE my olive oil, but what I have done is to buy a cheaper groundnut oil as well so that I am not using the olive oil for every job....

Rachel said...

That is a great idea, I will certainly keep it in mind when I start to run out of oil again. I am also using a lot less lately, due to me trying to lose weight, so that has helped keep the cost down!

Xinfinitum said...

Hi Rachel,

This week I ran an analysis of our spending budget. I keep track of everything via Quicken and my own specially designed spreadsheets.

I made another spread sheet in which I took the yearly totals and sorted them from the highest to lowest amounts spent over the last four years.

Eliminating several expenses that we are subject to (forced, slavery) that are not normal for most people, I found, to my surprise that Food was the highest single expenditure.

The most expensive was totaling all Auto expenditures together, auto fuel, maint, insurance (not including the actual cost of the car when purchasing).

Then came Property Taxes and then Heating Fuel to heat the house.

But as far a single line item Food was the most expensive.

I wish you success in reducing it.
I think in my next house I will have to have a vegetable garden or start a chicken ranch.

Take Care,

Rachel said...

It is amazing how much food costs can really add up. I am growing some vegetables this year with a view to growing a lot more next year once I know what grows well.