Budget 2010: Updated & Explained
Part of my new years resolution is to keep track of all of my grocery purchases. I want to see where I spend/save the most money. I encourage you to do the same. Each Saturday I will post an updated list.
Let me also explain that my budgeting includes items purchased for my family of four and items donated. I’m in the process of starting a food pantry at our church and will be funding the start up myself.
While they are cheap, we are not a convenience food family. I attended culinary school during my college years and am more than handy in the kitchen which eliminates are need for such “warm and serve” type meals. Our family eats mostly fresh items including lots of organic meats and veggies, therefore coupons or not our grocery bill tends to be a bit higher than other couponers.
Saved: $2798.33 or 70%
Saved: $792.11 or 64%
CATs Earned: $48.75
Saved $352.40 or 85%
ECBs Earned: $59.99
Saved: $481.56 or 79%
RRs Earned : $26
Saved: $23.15 or 40%
Saved: $378.50 or 77%
CATs Earned: $2.50
Saved: $784.42 or 72%
Gift Cards earned: $60
Saved:$163.80 or 85%
Saved: $87.15 or 56%
Gifts, clothing and misc. Spent:
Saved: $658.02 or 76%
Total spent on coupons: $41.90
I’ve received several questions as to how I compute this. Everyone has their own way of figuring their savings. So in short here’s how it’s done.
Most receipts now will tell you how much you saved. This is the amount I use. If it’s not provided I add all of the coupons and store loyalty card discounts and use that for my savings total.
Obviously the total spent if the actual money out of my pocket. I subtract all gift cards, CATS, RR and ECB. (These amounts also go in the savings amounts.)
Once you have these 2 numbers, add them together. Then divide the total savings amount by the total (the combined savings and spent). You will end up with a .XXXXX number. That is the % you saved. I always round up/down to the nearest whole percent.
Let’s say you go to Target and spend $20. The bottom of receipt says you saved $80. You used $10 in Gift Cards. SO you actually saved $90. (or else the $10 would’ve came out of your pocket, right?)
Saved $90 or 69%
Under the Gift, clothes and misc. is included all gifts for b-days, showers etc., the whole families clothing and all other misc items you pick up while shopping, copy paper, magazines, whatever…
The total spent on coupons is what I’ve spent out of pocket for coupons. I sell and trade coupons and try to keep a stock of coupons and cash made to purchase/trade for the coupons I need. I’ve made what I put out to start the coupons so there’s no need to add any cost to the total unless I spend more than I make. Makes sense?