Food
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Food needs to be the first line item you need to have on your budget!
Why?? Well, you and your family need to eat every day!
When you pay groceries first, you won’t have to worry if you will have enough money towards the end of the month for food.
There is nothing worse than getting to the last week or two of the month and realizing you have no money left that you can buy food with and the panic that rises.
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So, how do you find the right amount to put down for your food expense? If you haven’t started budgeting yet, the easiest way is to look at your bank statements for the last month.
- Total how much you spent at the grocery store over the entire month and this is what you will put down in your budget for food. You can always adjust it later if you need to.
- Now, that you have an amount set aside for food in your budget, the key is to pay for food first. Don’t worry, I am not saying you need to go out and do a month’s worth of shopping at all!!
- When I get my first check, I like to take out the cash and put it in my food envelope.This way, I will have the money I need for groceries throughout the month.
- Once the money is gone, you have to stop spending. One benefit of using cash is you can control any possible overspending.
Utilities are next (and a tip to save on your electric bill!)
Like this post? Check out all the rest in :
- How to Set Up A Budget Series
- Successful Budget Tips Series
Hi! I’m Charissa. I’m on a mission to help hardworking women overcome money struggles and gain financial peace with a Biblical perspective so they can have the freedom to impact their families and communities. Ready to make some changes that will impact your finances in 2020? Click here to get a free worksheet to help you make it happen!