household budgeting...

[Maz]

I was just wondering how many of you do household budgeting - by which I mean, you allocate yourself a maximum fixed amount to spend each week on groceries, for example. Do you do this on a regular basis and does it work for you? Does it make you think twice about buying some items? Does it make you more aware of special offers in the supermarkets, etc?

I think I might give it a go and see how I get on - Money seems to be slipping through my fingers at the moment!

 

[ceepeebee]

yeah, we have our planning meeting tonight.... Mrs Ceepeebee is on her last 3 months of maternity leave - so we're having to be bloody careful. I'll probably be on 20 quid a week spends for the rest of the month, to leave a fair amount for contingencies.

 

[Globalti]

We just avoid going to supermarkets where you trundle around picking up all the 3 for 2 promotions and offers, which don't get eaten and end up in the bin. We save money and time by sitting at home and paying Sainsbury's £5.00 to deliver our shopping; it works out much much cheaper.

 

[jamin100]

We started to shop at aldi and can feed our family of 5 on £50 per week.
Compared to the £80-£100 we'd spend on exactly the same things in Tesco / Asda . . .

We eat very well and the aldi stuff tastes the same if not better than from the other supermarkets...

 

[biggs682]

my other half does a good job on budgeting , i sometimes wonder how she does it but she does , and it pays in the long run thats for sure

 

[Doseone]

Monthly budgeting isn't too bad. Our costs for a family of four are pretty fixed each month so we know roughly how much is going to go out and we try and live within our means. What blows it out of the water are the big one off expenses eg last month it was car tax and unexpected car repairs, this month the gas hob has packed up - there's always something

 

[MrGrumpy]

We started to shop at aldi and can feed our family of 5 on £50 per week.
Compared to the £80-£100 we'd spend on exactly the same things in Tesco / Asda . . .

We eat very well and the aldi stuff tastes the same if not better than from the other supermarkets...

interested in how you manage, family of 5 here but consistantly skint . We are defo going to spend very wisely from now on, just about to filter down my bank statements too see where its gone last month but I think I know without even touching excel

 

[simon.r]

...you allocate yourself a maximum fixed amount to spend each week on groceries, for example.

The problem with doing this is being unable to stock up when there are special offers on. Last week at Asda, for example, Branston baked beans were on offer at £1 for 4 tins. I now have enough baked beans to last me until approximately Christmas 2014 Had I been working to a strict weekly budget I wouldn't have been able to stock up.

It's amazing how prices fluctuate. My weekly spend varies enormously depending on the offers available. If there are no offers on what I want it can be as little as £15 for the stuff that doesn't last long (milk, fruit and veg, cheese etc), but it can be £50 or more if there are good deals on things that have a use-by date well into the future.

 

[Arch]

We just avoid going to supermarkets where you trundle around picking up all the 3 for 2 promotions and offers, which don't get eaten and end up in the bin. We save money and time by sitting at home and paying Sainsbury's £5.00 to deliver our shopping; it works out much much cheaper.

On the other hand, I save that £5 delivery charge, and go to Sainsburys, and don't get lured into offers I can't fully use. I don't bulk buy on anything I can't store longterm.

I don't have a monthly budget worked out, I just operate on a "cheap as possible" basis. I do stick to a 'no more than 50p a portion' plan, when it comes to the meat part of my meal.

 

[fossyant]

One tries, but as you say it's the big hits that knock things out.

We shop much more at Aldi, as we've found their 'basics' much cheaper - the veg deals are good. Found the big supermarkets getting silly prices, and if you've got the choice, you spend too much - much to be said for internet shopping - you buy just what you need (we don't bother though).

Glad I don't have the big petrol bills, but a weekend away at the in-laws caravan hits the budget hard - £40 fuel on a weekend (normal fuel use is less than £40 a month) !!

I do spend too much on bike kit - have really reigned that in over the past year though.

 

[gbb]

Budgeting has its rewards in the long term, i'm convinced...
With a young family, very modest wages and the wife at home, we budgeted down to the last pound. Even used to put some by each week for the elctric, gas etc, so nothing (hopefully) came as a surprise. Its boring, you don't spend money frivolously, you watch every pound, but whats yours is yours. Save like crazy for Xmas, sometimes have to take out a loan, that hurts cos you know your'e paying extra for everything, but thats the only time we used to take out credit (generally speaking)

Live within your means...i have a very low mortgage on an ex council house, house is nice but not in such a nice area, not bad, but...the times we've nearly sold up and brought something bigger, more expensive...then hold back, do we really want bigger bills ?, no, live within your means.

After 30 plus years of that, i find myself in the very enviable position of still having a low mortgage, two wages coming into the house, roughly a years salary in the bank (thats amazing in itself considering i dont earn THAT much)...and if i want something, i buy it. At worst, i lend myself the money, then pay it back as if it were a loan.

When my brother was alive, he was a nightmare for money, frequently in the mire. We sat down one evening and worked all his outgoings out, and came to the conclusion he could pay EVERYTHING if he budgeted, but he wouldnt have much left. The downside i said was, youre not going to be able to eat out as often as you do, youre not going to be able to do a lot of the things you do, because you cant really afford it, you couldnt before, you were fooling yourself.

Sadly, i think the majority of people have no idea how to budget properly. It'll be a millstone round your neck all your life if you dont.
Control money, dont let it control you.

 

[Moodyman]

Control money, dont let it control you.

Amen.

 

[Arch]

Hear hear!

And another thing. When you're frugal all the time, it takes much less to feel like a treat. I seem to get as much enjoyment out of a latte and cake in good company as some seem to get from a Caribbean holiday. You learn how to enjoy simple pleasures, and know what's really important in life.

 

[Moodyman]

Hear hear!

And another thing. When you're frugal all the time, it takes much less to feel like a treat. You learn how to enjoy simple pleasures, and know what's really important in life.

Absolutely. Alastair Humphreys cycled round the world for 4 years. In his book, one of his biggest summary comments was how little he actually needed to live for those 4 years and how basics like a warm shower and bed were cherished.

 

[Andrew_Culture]

We buy most of our dry goods from Suma wholesale by chipping in with friends. My god I love the day our share of the order arrives! We get things like dried fruit and beans in sacks and they form a large part of my diet.