Budget Ideas…
I think this is one of the tougher blogs I’ve written because it’s kind of boring, kind of personal, and no one wants to talk about money. However, it’s probably one of the biggest worries for a lot of people. My dentist regularly posts on social media about the connections between dental/oral health and the health of the rest of your body. One recent post is about facial pain and how it could be attributed to sinusitis, cluster headaches, tooth abscess, and other possibilities. [Check them out if you want to learn more: on Facebook at K&K Dental Studio!] It got me thinking about the relationship between our finances and our health.
Our mental wellbeing is going to be stressed if we are anxious about paying bills, making it to the next paycheque, etc. I think stressors on our mental health then impact our bodily health. Negatives to our health, impact our whole lives. So do positives. And tackling outstanding budgetary concerns can help open you up to other positive aspects of life, such as getting out of the house and enjoying fresh air and nature.
So, if it seems so simple, why is it so tough to accomplish and write about? I think it’s because money is such a touchy subject. I sometimes wonder how we can put a dollar amount on one person’s contribution to society over another’s. Truth is, we do, and in some situations, I totally understand. This blog is NOT going to talk about those philosophies, though. This blog is about how I am going to look at my own budget this year and what tools/tricks I’m hoping to use to help me.
These are my ideas (or I’ve got them from articles, other people, etc.) and how I’m going to use them. There may be some that work for me, others that don’t, and others that require adjustments along the way.
In my neck of the woods, we are facing some serious food cost increases from the pandemic and inflation. That means I have to be smarter with my grocery budget. What follows are how I go about building my grocery list:
1) First, I don’t shop without a list. It’s far too easy to buy unneeded items or buy on impulse – Haagen-Dazs, anyone? By having a list, and making myself stick to it, I’m more able to control what I spend.
2) I set a budget – I’ve been buying weekly and have now decided to try bi-weekly. I get paid bi-weekly and think this might provide an opportunity for even greater control and savings.
3) I look at the weekly flyers for menu ideas. (I do NOT drive all over chasing bargains, though. I look at the flyers of my regular shops – with the cost of fuel, driving to many different stores is going to cancel out any savings I might get from the flyer.)
a. So, menu ideas. This is another big one. I don’t set myself a daily menu, per se, I set myself choices for the week. That allows some flexibility. I might have spaghetti in my plan and don’t want to force myself to eat it on a day that doesn’t feel like a “spaghetti day”! I think you know what I mean. When you go through the flyer, you can see what your best deals are and build your grocery list from it, keeping in mind that you will probably have a couple of nights of leftovers. Using your leftovers for a meal, will also help keep costs down.
4) I don’t over-buy items that I don’t use a lot. For instance, my cereal was on sale for 2/$8. Individually, it was $4.99. Now, if I only went through that cereal box once every four or five months, it wouldn’t make sense to spend the $8 for two right now when maybe that extra $3 can be put toward something else that I need. Since I regularly buy it, doing the sale makes sense. But I’m very careful to read the full print. 2/$8 is going to be in bigger, bolder font. It might say $3.99 each in small print – don’t be fooled. There’s no savings there. Same with items that come in four versus two packs. Before you buy the four pack, look at the two pack for a comparison price. You might be surprised. It isn’t always cheaper to go bigger.
5) When it comes to the dry goods that are often the most expensive items, I try to buy when on sale and not buy just because of a sale. Does that make sense? If facial tissue is on for a great price but I already have 20 boxes at home, then do I really need to buy more? Maybe if I was a family of six and suffering colds, but on my own? Not likely. 😊
6) My last trick, and one that’s tough for me, is to NOT shop between planned grocery days. I do allow for a stop if I run low on milk – but that’s it! Again, just because it was a tough day does not mean I NEED ice cream! It’s so easy to just grab something for dinner if I don’t like my choices at home. This will take work!
Okay, so that’s the grocery end of things.
Some other ideas, I’m following for this year include taking a breath before buying ANYTHING! Do I really need it? Is it “essential”? Do I already have something that would work in its place? Buying for the sake of buying is a terrible waste of money. I’m currently sorting out what I brought with me in the move. I have a section of a spare room put in use as a “holding pen” for the unwanted items. Before I give them away or sell, I want to be sure I don’t have a need for them somewhere else. There is no point in getting rid of something and in a couple of months, realizing I actually needed it. In most cases for me, that would be in terms of a storage solution. When my son was young and I was just building our home, I used a lot of baskets for storage. They were attractive, functional, suited the space, and most importantly, inexpensive. I must have chosen well because here I am years later with tons of baskets!! I use them for everything from blankets to mittens.
When I think about the work I still want to do on the house, I find that paint is a cheap way to change things up. When my son was here and wandering around the house he had a good laugh over the number of swaths of paint I have everywhere. He told me that “normal people” tape the paint chips on the wall and decide from there. Yes, I spent $5 on each paint sample. Yes, I’ve taken different colours and swiped them on the walls in different spots around the rooms. Yes, I’m living in a bit of a kaleidoscope of colour right now. And yes, I wish the walls were painted one colour only instead. I have to say though, those samples have been awesome! I consider it money well spent. Not only can I see what the paint really looks like on the walls, I can see it in different spots, in corners, in full light, in shadows, and choose what really suits me. Also, it means I have these little sample pots to use for other projects. I used one when painting the back of my main floor bathroom shelves and another for a table in my bedroom. I’ve even passed on some to my sister to try in her house.
Having said all of that, let me be clear that I haven’t bought random samples. I’m picking those that fit what I think I want in the house and trying them out. In some cases, I’ve changed my mind. Especially in my upstairs bathroom. The wall colour has not changed from my plan, but the accents are completely different. Just wait until I share! Anyway, I digress. Back to budget. Ugh, what a dry topic. My mom suggested I put in some humour – finding it difficult! 😊
An area that can be really hard on people is maintenance – of home and car. It can be so difficult to spend the money when it seems like you don’t have it. And don’t get me wrong. There are definitely times when I don’t have the money. [When I look back at the early days with my son, I remember many nights of sitting on the couch late into the night wondering which bill could be pushed, which couldn’t, what could I afford and what could I not? How was I going to make it to my next pay day? All those questions that I went through I believe, made me a better person, and whether he agrees or not, didn’t hurt my boy at all. Learning to work for what you get, does not hurt anyone.] Anyway, maintenance is something that really cannot be missed. When it is, it has the chance of getting much worse and much more expensive. It’s something I keep in mind when I have to call a plumber or electrician or my gas fireplace guy. It was a steep price, but it got me a clean and fixed gas fireplace and gas stove. I couldn’t have survived this winter without the heat they provide.
The other thing I do to deal with bills, the regular kind, is “book” them for a pay day as soon as I receive them. Whether it’s a paper bill that comes in the mail or an email, I look at the due date. Then I look at my calendar. Whichever pay day is closest to the due date, without being past it, is going to be the day I pay the bill. I put the notification in my phone and on pay day morning, I get a reminder at 8 am of what bills are to be paid. I take a few minutes from my work and I log in and pay them. It keeps me in good standing with the companies and it means the money is gone before I have a chance to waste it. This is something I highly recommend to everyone. It helps especially with the email bills – it is so easy to get bogged down in today’s world and forget. It’s become a habit, now.
I can’t forget the point of all this. The second half. I have a pension with my job, and I want to live a certain way after this career. In order to make sure of that, I also have a retirement savings plan. I will be meeting with my financial advisor next month to review and increase donations. I recommend talking to your own professional when making long term plans. They’re best equipped to provide educated suggestions and help you get where you want to be and when you want to be there. Some areas that I think are more difficult are emergencies. I have savings plans set up to deal with bills that aren’t monthly, for instance, property taxes. While I know that bill will be arriving and I even know when, if I had to pay it from the closest pay cheque, I’d be in trouble. So instead, I have a savings plan for two things: taxes and emergencies. (Emergencies include things like getting the gas fireplace working properly.) I have money taken from my account on pay day that goes into it directly. It guarantees that it will grow and that I always have the money, if needed. So, I don’t really use it for savings in the strict sense of the word.
The last thing I’m doing right now, is taking anything left at the end of the pay period and putting it on any areas where I “owe”. My intent is to get rid of my debt as soon as possible. I can’t consider retirement if I can’t afford to live on my pension and savings. With apologies to my mom for the lack of humour! I couldn’t find a way to make it amusing.
A selection of paint samples, currently in use. They may look small, but they are mighty!
See what I mean? Being able to swipe the “competing” colours in different areas of light, give a much better view. These do not look the same everywhere! When I brought these two colours home, I had a choice made. I changed it based on these swaths of colour. Which would you choose?
I’m cozy, even in -20C, with a well maintained fireplace and stove.
Happy St. Valentine’s Day, tomorrow!
Who doesn’t like pink? Changes coming soon!