New Year New Budget!

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Posted by Heidi | Posted in Budget, Budget Plan, Money Saving Tips, Saving Money | Posted on 01-01-2010

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1245824_48965530Happy New Year!

I don’t know about you but I am so glad 2009 is done!

Do you have any New Year’s resolutions? I like to call them goals so I don’t overwhelm myself or set myself up for failure ;) . I do have some including the usual like exercising more and eating healthier. The biggest goal I have for 2010, however, is to get our personal debt under control. I figure there is no better place to keep track, post, and update this monstrous goal than here!

We have an insane amount of credit card debt and a small student loan to pay off on top of a mortgage and car loans. Yikes! Just writing that all out is humbling and stressful! But, we do want to get on top of it and reduce our debt significantly this year.

So, how to do this? Well we need to reduce the amount of money spent so we can throw the extra at our credit cards. I am so sick of paying interest to these companies who frankly do not give a crap about us. It seems every month we are getting a notice that our credit card interest is going up and our limit is being reduced. Nevermind that we have not once been late in payments in 9+ years and we have always paid off our debt.

The first way I can think of doing this ties into this website: reducing our monthly grocery bill by at least 50%. Typically, for our family of three including two cats and a hamster we spend $400- $500 a month on groceries. This includes all food items and non-food items such as toiletries , pet supplies, etc. So, I want to reduce out grocery bill to no more than $200 a month….Can I do it?

I think I can. I know I can. The concern is can we do it while still maintaining a healthy diet with fresh whole food? I am sure we could live off of Raamen and potato chips but I do not want to feel like sh!t. Eating that kind of food all of the time will ensure that. YUCK.

So, I am going to start posting my plan for sticking to $50 a week for 3 people and 3 pets while eating healthy foods. It seems like a huge goal but the mountain of debt we have is a great motivator! I want to be out of debt more than I want to spend more money on groceries, eating out, etc. I plan to document all of this here while also continuing to post Deals of the Week, coupons, freebies, etc. Wish us luck!

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